55+ housing or non-age restrictive housing? (Sarasota: renters, HOA, condominium)

[lesliehr]

Will be making my move to your sunny state in a few years and have started my research. I always assumed I’d buy in a 55+ community...but now I’m not so sure. From what I’ve seen ( on the Internet), my preferred beach condo style is NOT age restrictive. If I go this route, should I be worried about short term renters ie, non-residents? I want to meet people and make friends, but concerned that folks won’t be permanent residents. I plan on living there year-round.

Thanks, Debbie

[bbronston]

I think you will find that most beach condo properties will have rules allowing short term rentals but not all. Ask your agent to include in his/her MLS search criteria a minimum rental period that suits your desires. You might not come up with anything at the outset but your agent can keep the search running in the background and you will receive notices in the future if a property becomes available.

[Ladywithafan]

Request a copy of the condominium documents as well as rules & regulations which will explain rental restrictions. Also find out if the property is "warrantable;" if it is not, then you know it's a rental community more so than an owner community.

[lesliehr]

Thank you for replying!

Crazy additional question.....

Will I find other retirees in non-age restrictive communities? Specifically in Sarasota, and the various “Key” areas?

Debbie

[bbronston]

You will almost certainly find retired people in just about every community in the area but you’ll want to evaluate each location on its own merits.

[MattMN]

On the first point, age-restrictions are totally unrelated to rent-rules. Whether 55+ or not, condo or single family home, many neighborhoods will have rental rules. Some are fairly relaxed - owners can do what they want. Others may limit rentals to 3 or 6 or 12-month limits. You'd have to review the HOA rules, but also realize HOA rules can change.

And yes, I bet nearly every neighborhood around here will have retirees. I moved into a newer single-family-home development, and while we have families with kids and other empty-nest couples still working, I'd guess half the community is retirees.