Quote:
Originally Posted by andercat
I worry about our (The Villages) compliance with the number of homes occupied by people younger than 55. The Federal rules says that the exemption for age-restricted communities requires that at least 80 percent of the homes be occupied with somebody 55 or older. The law also requires the communities to publicize the age rules and enforce them, and verifying ages at least every other year. If the association fails to keep track of the number of seniors living in its community, or if it fails to do surveys every other year, it could fall out of compliance.
My husband and I had to verify our ages 5 years ago when we moved in, but we have never been surveyed again. I guess they figure we can’t be getting younger.
Are the ages of renters verified? Notice the law does not say that the home must be owned by someone over 55, it says occupied by someone over 55.
I’ve heard folks say that we have over 60,00 homes. 20% of 60,000 is 12,000 homes. Do you think there are that many homes that have no one age 55+ occupying them?
I have spoken to people that buy a second homes and let their adult children (under are 55) live in the home. I have been told by people that they were under 55 when they bought from The Villages and the sales representative knew their ages. Many owners rent to younger people. How can The Villages keep track of the ages of renters that just rent for a few days or weeks? I hope the community does not go below the 80%.
I lived in Sun City West before moving to The Villages. They were very strict about the age of buyers and renters. (No short term renting was allowed. Had to be six months or more.) They checked everyone. About the only exception was if one spouse was under 55 and their older spouse died, the younger spouse could stay. It feels like The Villages is rather laissez faire. I hope I am worrying over a big nothing but compared to where we lived before it seems rather lax.
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I hear Sun City is really nice. What attracted you to TV?
I purchased my first home at age 42. My second at age 43 and am about to purchase my third at age 50.
I don't rent to people under age 55.
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