Updated 17 days ago on . Most recent reply
 
      
Sober living rental
Hi there! My husband and I recently completed renovation on our second duplex. We have it listed to rent and were approached by a new sober living/transitional housing company who is interested in renting it out. My husband and I are both sober and connected to the community so are relatively comfortable with the plan. Some pros are that the company would essentially work as a property management company without the fees, ie they would be first contact point for minor fixes rather than us. The company itself would be paying the rent to us, (assumably) regardless of whether they have the expected number of clients/tenants. They are hoping to scale and would love to partner with us if things work out, which we would love to do as well.
I've listened to a few podcasts with experiences of renting to sober living companies, but was hoping for more personal experiences and pros/cons.
I am a little nervous as this is a new company with no proof of concept just yet (but I am in Indianapolis, a large city with a definite need for transitional housing). I'm trying to look through our lease to decide how to restructure it with the idea in mind that there is no contract with a tenant, but rather the company. I can't run a credit check or background check like you traditionally would. How would I go about evicting tenants or dealing with nonpayment of rent? Will I need to adjust my traditional landlord insurance to reflect the change?
Thank you for any and all feedback!
 



