80/20 55+ housing

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80/20 55+ housing (by Jaycee [OH]) Jun 23, 2016 9:15 AM

80/20 55+ housing (by RR [WA]) Jun 23, 2016 9:34 AM

80/20 55+ housing (by Robert,Ontario,Can [ON]) Jun 23, 2016 11:40 AM

80/20 55+ housing (by WMH [NC]) Jun 23, 2016 11:48 AM

80/20 55+ housing (by BRAD 20,000 [IN]) Jun 23, 2016 1:18 PM

80/20 55+ housing (by JB [OH]) Jun 23, 2016 2:54 PM

80/20 55+ housing (by Jaycee [OH]) Jun 25, 2016 7:47 AM

80/20 55+ housing (by WMH [NC]) Jun 25, 2016 9:16 AM

80/20 55+ housing (by Jaycee [OH]) Posted on: Jun 23, 2016 9:15 AM
Message:

State Specific Question About: OHIO (OH)

How does one apply the 80/20 rule on 55+ housing to a triplex building? Need information on this...thanks --74.215.xxx.xxx

80/20 55+ housing (by RR [WA]) Posted on: Jun 23, 2016 9:34 AM
Message:

Thanks for posting, I was not familiar with the 80/20 part of the rule.

I wonder if your small complex even qualifies under the 55+ rules. There may be a certain number of units before it kicks in.

Going by the hard rule and erring on the side of compliance, I think it is safe to assume that all 3 units (at least 80%) need to be 55+. Do not rent any units to non-55+. Forget about the 20 percent part, because it is optional to allow non-55+ into the units.

An alternative is withdrawing from the 55+ program altogether.

What are your concerns or intentions?

--24.22.xxx.xx

80/20 55+ housing (by Robert,Ontario,Can [ON]) Posted on: Jun 23, 2016 11:40 AM
Message:

Senior tenants will be least problematic as they have respect for the rules. There will be no illegal drug use. Here the only new rental housing that is being built is the seniors rental complexes. The builders have decided to stay away from those on social assistance along with a lot other problem tenants. The objective is to get people who pay the rent on time along not destroying the rental complex. A credit score above the six hundreds is a good starting point. --74.220.xxx.xx

80/20 55+ housing (by WMH [NC]) Posted on: Jun 23, 2016 11:48 AM
Message:

I agree about forget the 20% and go for 100% Senior. At least one 55+ in every unit. --173.22.xx.xx

80/20 55+ housing (by BRAD 20,000 [IN]) Posted on: Jun 23, 2016 1:18 PM
Message:

Jaycee,

The only thing I vaguely remember from a class long ago was the law was based on the parcel of land. Watch for lot lines.

Locally I'd call the Fair Housing office and get a written OK from them.

BRAD --73.146.xxx.xxx

80/20 55+ housing (by JB [OH]) Posted on: Jun 23, 2016 2:54 PM
Message:

Jaycee, If your in Cincinnati, you can call Debra Jeter at HOME. 513-721-4663 She is very good at helping. --24.123.x.xxx

80/20 55+ housing (by Jaycee [OH]) Posted on: Jun 25, 2016 7:47 AM
Message:

thanks JB, I called HOME. The rule is 4 units/100% 55+; larger units can be 80/20 55+. Getting to 100% 55+ will be difficult for owners of smaller units, unless the building is entirely vacant.

Thanks to everyone who responded to my question. --74.215.xxx.x

80/20 55+ housing (by WMH [NC]) Posted on: Jun 25, 2016 9:16 AM
Message:

That's interesting.

One of our properties (it's only a duplex) is entirely Senior right now. Can I keep it that way, I wonder?

I ask because the downstairs tenant is 80 or so, and I don't want to put kids above him if I don't have to? --173.22.xx.xx

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