This week, Becker Shareholder Mark D. Friedman, who provides legal counsel to condominium, homeowner and cooperative associations, sits down with Donna DiMaggio Berger to discuss “Housing for Older Persons” communities including their legal requirements for establishment and whether these communities have the same appeal today as they did in the past.
Conversation highlights include:
- Mark discusses the three legal requirements that allow a community to safely classify itself as Housing for Older Persons.
- What is the 80/20 Rule and why do many realtors misinterpret it?
- How long can underage people occupy a unit in a senior housing community before that unit is counted as being non-compliant with the age restrictions?
- What kind of age identification documents can be used for the community census and how should associations handle that sensitive information?
- How to combat fraud when younger purchase applicants claim they will live with someone older for approval purposes only?
- Are senior communities more resistant to recessions?
- The sensitive business of evicting younger people from their homes.
- Housing trends related to the senior lifestyle.
BONUS: What Japan can teach others about living with senior citizens.