Quote:
Originally Posted by ugotme
It is my understanding that in order to qualify as a "senior residence" there can be no less than 80% ownership by someone age 55 or over. If you fall below the 80% mark, you could become an "open community" which would then have to allow children in (under 19).
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I’ve heard a lot of misquotes regarding the 80% requirement of HOPA, but you got it right.
And to clarify it further, it’s not based on the percentage of population, it’s based on a percentage of homes. For example in a senior community with 1000 homes, as long as 800 of those homes had a resident 55 years of age or older, it would qualify for protection under HOPA even if that community also had 1200 residents under the age of 55.