Experience with over 55 communities

[Rick Alexander]

I have 4 properties in an over 55 community. My experience is:

Pros - older folks always pay the rent usually timed when SSN check comes in, never had cause to evict an old lady, small 1000 sq ft Florida bungalows are desirable as a senior rental

Cons - rents are lower than market price, expectations for service are higher (more interactions with property mgmt), gotta keep properties upscale

Overall, I’m happy in this over 55 space. What’s everyone else’s experience?