Quote:
Originally Posted by rayschic
The key to the 80% rule is homeOWNERS not homeRENTERS.
When I BUY a home, they apply the rule.
The homeowner can then rent to whomever they want.
I owned a rental home for 6 years here in TV. Many times our home was rented to people under 55. Mostly, they were visiting family that owned homes here.
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That is incorrect. The Federal law which governs 55+ communities applies to occupants, it doesn't matter if they are owners or renters. See the answer to question 21 of the following link.
Edited to add: Question 22 also applies to the topic of renters.
http://portal.hud.gov/hudportal/docu...d=DOC_7769.pdf