A developer in Jefferson County, Kentucky is building a 100-unit apartment complex and wants to market it exclusively as a 55-and-older community to be exempt from familial status requirements. Which of the following conditions is NOT required for the community to qualify for the Housing for Older Persons Act (HOPA) exemption under federal law as applied in Kentucky?
Correct Answer
C) All residents in 100% of the units must be 55 years of age or older.
HOPA does NOT require that 100% of residents be 55 or older. The correct threshold is that at least 80% of occupied units must have at least one resident aged 55 or older. Requiring all residents to be 55-plus is a common misconception. The 80% rule allows for some flexibility in occupancy while still qualifying for the familial status exemption.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
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