Updated almost 3 years ago on . Most recent reply
Renting SFH to group home
Hello Investors, I was contacted by a company that runs an assisted living facility / group home in Phoenix, AZ. They want to leave my SFH and use it to run their facility. This is my first time hearing about this and wanted to connect with fellow investors.
How much higher rent is reasonable to charge given the higher wear/tear? How do you find a commercial insurance in this case? What other things should I be aware of?
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#1 Medium-Term Rentals Contributor
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You have to check the zoning regulations to make sure a group home is allowed. Group homes are a hotly debated topic. There are many variations of them rehab facilities for drug dependent individuals and of course senior housing to mention a couple. Senior housing has many variations. Nursing care or just senior housing. Assisted living facilities in general are three parts; senior living, assisted living where the individual needs some assistance and then full assistance as in dementia areas. Typically dementia is not allowed in a SFH, but you need to check the regulations. Is there an operator to run the facility? Are they licensed? Many questions that need to be answered.