55+ Community Section 8

[Carlo Galluccio]

Hello all,

Does anyone have experience with Section 8 rental properties in regards to 55+ communities?  I am located in the South Florida market, more specifically Palm Beach County.  My focus is Palm Beach and one county north, Martin County.  I am curious if this is a niche market worth exploring and searching for some insight.

Thank you for your time.

[Jason Brown]

It is definitely a niche market because of how limited your renter pool will be. We all look at 55+ communities here in Florida because the price points are significantly lower and it's for good reason.

55+ communities can be sticklers for rules/regulations WAY above and beyond the average HOA. You've got the age requirement which is obvious but then you also have more rental restrictions, holdback periods before units can be rented, and ownership restrictions as mentioned above.

You may try and outperform that by looking for section 8 paying 55+ renters but now you have limited your renters to essentially a niche within a niche.

Could you find something and make it work? Definitely. But in my experience as a Miami condo investor these communities are designed to KEEP investor buyers from leveraging low purchase prices to then rent to the senior community.

Believe me, I would've bought 20 of them buy now if I had found it viable.

Best of luck!