There are several advantageous ways
seniors can use rentals in their cohousing community.
Some seniors ask, "Are rentals a source of
income or a growing burden?"
Dallas
Senior/Elder Cohousing
Rentals can certainly be a source of income and possibly even pay the expenses of the common areas and property.
Yet, ask any landlord and you will find out that they can also be a large burden--and rentals are not always profitable.
In addition, some of the profit landlords enjoy is property or rent appreciation over a period of time.
Is property appreciation a goal of seniors?
If it is a goal, is there enough life expectancy for seniors to realistically expect appreciation to be part of their profit? What happens in the meantime?
This website presents some very basic information and questions about rentals. Senior cohousers can start here but should plan to study this situation extensively from outside sources before deciding if it makes sense to become a landlord.
Most senior cohousing is one-story. Yet it is cheaper (per square foot) to build a two-story building (one roof, one foundation) and certainly it is better use of land. In senior cohousing, the top story could be rented or used in later years to house a care giver.
There is a trend in construction now to build retail or office rentals into the housing community--possibly facing the street in front of the houses or on the bottom floor of a multi-story building.
The common house of a senior cohousing community should be one-story unless elevators are included. However, the second story of the common house could be used for rentals now and housing for care givers, a cook, or a chauffeur in coming years.
What happens if rental property is included and management becomes a burden?
A common solution is to hire a property manager. Good property management is pretty much available anywhere.
What happens if retail rentals are included and they are not renting... or property management is not a viable option?
The list goes on...
Senior Cohousing
Hidden Lake Ecovillage
Dallas-Fort Worth
Senior Cohousing Directory
Hidden-Lake
in DFW
Senior Cohousing
in Dallas
Active Lifestyle of Elder
Cohousing
Aging Gracefully in Elder Cohousing
Benefits of Senior Cohousing
Cars, Who Needs Them?
Common Areas in Senior
Cohousing
Costs of Elder Cohousing
Do Rentals Make Sense for Senior
Cohousing?
Ecohousing: Why
Build Green?
Features of Senior Cohousing
Finding a Senior Cohousing
Community
Good Neighbor Information
Hot Spots in Community Decisions
Individual Privacy in Senior Cohousing
Is Senior Cohousing Right for You?
Locate a Senior Cohousing
Community
Make Good Use of Your Common House
Meanwhile, Back at the
Common House
Outdoor Common Areas for Senior Cohousing
Therapeutic Community Gardens for
Seniors
What Kind of Housing Do Seniors Want?
Why Elder Housing?
Seniors and Loneliness
Where
Do Pre-Retirees Want to Live?
Younger Faces
in Senior Cohousing
Senior &
Intergenerational Cohousers Fit
Few Lonely Seniors
in Elder Cohousing
Deciding Where to Live