Senior Rentals 101: Guide for Landlords & Tenants

As a landlord, it’s essential to understand your tenants’ needs at various stages of life. As a tenant, living in a safe and comfortable space can make all the difference as you age. Whoever you are, this guide will provide you with resources for what an exemplary senior rental looks like and what you should expect out of one.

Keep reading to learn about different housing types, how landlords and tenants should approach senior housing, and a comprehensive list of resources to help you along your journey.

Types of Senior Housing

Living arrangements at different stages of life vary by person, and seniors are no exception. Different types of housing meet different needs and give tenants the lifestyle they feel comfortable in.

Typically, the two main types of housing for seniors are active and assisted.

Those who don’t need assistance with everyday activities should look for housing conducive to an active lifestyle. For those who need assistance with basic activities (going to the bathroom, cooking meals, etc.), assisted living centers may be the right living arrangement to receive the specialized attention and help they need.

In this guide, we’ll focus on active senior housing and all options available to seniors.

Active Senior Housing

Active seniors are those capable of living independently. Many properties allow for this kind of lifestyle, including:

• Homes for rent: Seniors can find various types of homes for rent, from ramblers to manufactured. This type of housing is usually found in residential neighborhoods and will give you a variety of neighbors.
• Independent living communities: These communities are often apartment buildings or condominiums explicitly designed for seniors with minimum age restrictions of 55+. Some independent living communities have unique amenities like housekeeping or other services that make senior living more manageable.
• Retirement communities: Much like independent living communities, you must be a certain age to live in a retirement community. Some also allow you to purchase your home rather than rent.
• Senior co-housing: Usually based around a common building, this type of housing gives seniors the freedom to socialize with those around their age and with similar interests.

Your lifestyle is one of the key elements in determining the best type of housing for you.

If a senior enjoys being around younger families or those in a different stage of life, finding a home or apartment to rent might be their best option. If they enjoy spending time around other seniors in similar situations, consider the other options discussed above.

A Landlord’s Guide to Senior Rentals

Seniors make great tenants. Many are on fixed incomes, making it easy to pay rent on time while living a quieter lifestyle. (No loud band practice from most of these folks!)

As seniors continue aging, many rent to eliminate maintenance responsibilities and live around similarly aged neighbors. According to Harvard’s Joint Center for Housing Studies, in 2018, 55% of households were headed by those 50 and older, so the need for elderly housing is growing.

Laws to Know

While the Fair Housing Act doesn’t expressly state that it is illegal to discriminate based on age, these terms are included in the broader term of “familial status.” It is not lawful for a landlord to impose specific terms or conditions on an elderly person unless those same terms are enforced on every tenant.

Want to learn more about the Fair Housing Act to avoid catching a discrimination charge? Enroll in the Fair Housing for Landlords course today!

Consider Keeping the Property Pet-friendly

Many seniors enjoy the companionship of a pet and the emotional support they provide. Consider keeping your rental property pet-friendly to entice more seniors to reside there.

If you go this route, you may want to create pet policies to ensure rental units aren’t damaged or have a thorough pet screening before the animal can live on the property.

Boost Safety Precautions

Safety is an essential consideration for seniors when choosing where to live. You can do many things to show you’re prepared to give them a space they feel comfortable and safe in.

Consider going the extra mile beyond the typical safety precautions by installing security cameras, gates around the property, or elevators if the property has more than one story.

Age-in-Place Features

Once a senior has planted roots in a rental unit, their chances of picking up and moving are quite slim. Having features that allow seniors to age comfortably will entice more tenants to your property.

Use the following checklist to make sure your rental units are age-in-place friendly:

By reviewing ADA compliance guidelines, you’ll find other things you can do to make your rental property more age-in-place friendly.

Improve Lighting

Good lighting is an essential safety feature for the elderly. Installing brighter and longer-lasting LED lights while also expanding the windows or increasing the number of windows can go a long way toward preventing accidents.

Help Senior Tenants with Rent Enforcement

Some tenants, particularly those that rely heavily on Social Security Income (SSI) checks and pensions, may occasionally be late paying their rent. If they ask for more time, hear them out or be accommodating by helping them find additional resources and ways to pay for their housing.

If a tenant is consistently late paying rent, consider changing the day their rent is due to better align with their benefits. You could also implement a partial payment system where they pay part of the rent 15 days before their rent is due and the rest on or before the day it’s due.

Don’t Be Quick in Evicting Elderly Tenants

Eviction isn’t a pleasant process for anyone involved. To avoid this, talk with your tenant to get to the root of the problem and devise a solution together.

Some tenants may forget to pay their rent, and a little reminder would help them pay it on time each month. If a tenant has accidentally damaged something and repairs exceed the amount of their security deposit, talk with them about options for replacing or fixing it.

If there are more profound, dangerous issues at hand (forgetfulness to the point of not remembering where they are), contact a close relative and talk to them about this issue.

Request Contact Information for Nearby Relatives

Contact information for a nearby relative or friend can make all the difference during emergencies. When the tenant lives in a different state than their children or other relatives, having the name and contact information of their preferred hospital or doctor is also helpful.

Keep in mind that accidents still happen despite safety precautions, and seniors run a higher risk of passing away in your property. Having the tenant’s contact information is a simple way to prepare for such events.

Understand HUD for Seniors

HUD, or Housing and Urban Development, is a cabinet department in the US executive branch. Their mission is to provide financial assistance for agencies that provide housing for low-income residents.

Landlords and property managers should note that HUD provides interest-free capital advances to finance certain housing projects to support the elderly. There are specific candidates eligible to live in HUD housing. See their website for more information.

A Tenant’s Guide to Senior Rentals

Feeling safe in your place of residence is only part of the story. There are other considerations and things to look for as you begin your senior housing journey. Some specific things to remember are where the rental is located, what services are included in the monthly cost, and what amenities are available to you.

Finding a place that keeps you safe while also fitting your lifestyle and needs will help you age more comfortably and live life more joyfully.

Location is Still Important

Location. Location. Location.

You may have heard it all your life, and this simple moniker won’t change anytime soon. When looking for a rental property, be aware of its location; proximity to local shopping centers, public transit, or parks are all things to consider.

Also, be wary of what types of properties and infrastructures surround the rental unit. Main roads and schools next door may not be conducive to a quiet lifestyle.

Consider What Services are Included in the Monthly Cost

The last thing anyone wants is to receive a bill with a number much higher than anticipated. Be upfront with the property manager about what services they include in the monthly cost and what they don’t. Ask about standard utilities like electricity, water, sewage, or property-specific amenities.

Safety & Amenities

Many senior living centers or apartment complexes offer amenities such as pools, community buildings, or fitness centers. Whether taking a live or virtual tour, don’t be afraid to ask about what safety measures managers take for each amenity and all the different ones available to tenants.

Likewise, don’t hesitate to ask about typical safety precautions taken throughout each unit and the complex as a whole, such as smoke alarms and proper lighting. For those renting with a disability, understand what steps the landlord has taken to make the property ADA-compliant.

Help with Maintenance

When looking for a rental, know the maintenance process and who is responsible for repairs. When a lightbulb burns out, or the faucet is clogged, who will you call to fix it? If there is no designated maintenance person, determine if other staff members are responsible for this or if you will be.

It’s better to have someone familiar with maintenance who can help fix things around the unit. You can also negotiate with the property manager to include this in your contract if it’s not already.

HOA Rules

Homeowners Associations are often present in townhouses and condo complexes. Residents in the community serve as members of the HOA and are responsible for grounds maintenance, community utilities, and the complex’s general finances.

HOAs generally have monthly fees and specific rules for the community. Be aware of these rules before moving in, as the association could fine you for breaking them.

Some HOAs have more strict policies than others, including how many pets are allowed in each unit or what you can and can’t have outside as decoration.

HUD Guidelines to Qualify for Senior Housing

HUD is a US department that helps finance housing associations in support of the elderly. These housing units are meant to provide seniors with a place they can afford.

To qualify for such housing, you must have a small income and someone in your household aged 62 years old at the time of occupancy.

How to Pay for Senior Housing

Many seniors rely on private funds to pay for their living expenses. Some have sold or rented their homes and used that income to cover their housing costs.

Other funds can come from retirement accounts, investments, disability insurance, taking cash out of your life insurance policy (or converting it), or a supplemental Medicare insurance policy.

If these aren’t options for you, government funds are available to those who qualify. Aside from Social Security benefits, Medicare, Medicaid, HUD’s Section 202 program, and the Veterans Administration are also worth pursuing.

What to Look for on Your Tour

Tours of the property are a great time to ask questions and understand what living at a given property is like. If possible, talk with other residents and hear their opinions while checking how friendly your future neighbors may be. Quickly observe to see if the grounds and unit are well maintained. Does the unit have a pleasant smell?

With so much to remember when looking for a place to live, it’s easy to forget things. Use the checklist below as a guide when you’re touring rental units and talking with other residents, and fill in the empty boxes with your specific needs.

Paying for Senior Housing Resources

As you prepare to move into the next phase of your life, look through this list of resources to help you along the process:

• National Council on Aging Economic Security
• AARP (American Association of Retired Persons)
• National Institute on Aging
• Medicare Benefits
• HUD Rental Assistance
• Social Security Benefits

Additional Tenant Resources

• Senior Housing Options
• ADA.gov
• Tenant Rights by State
• USA.gov Moving Guide
• Eldercare Locator Housing Page
• Meals on Wheels Program

Whether you’re a senior looking for rental housing or a landlord wanting to understand how to better serve your residents, this guide will help you reach your end goal.

Visit our property marketing, rental application, and tenant screening pages to learn how to find the perfect senior tenant for your property.