Renting house to assisted living facility owner

22 Replies

Hi

I have been contacted by an assisted living company that is interested in renting my home to use as a small 4 client assisted living home. They currently have another assisted home in a different part of town that they run for 5 years and are looking to add my rental home as a second. I checked them out and they are fully licensed. Contacted my city rental licensing ( i live in one of those cities where landlords are required to have their properties licensed) and was told my only requirement with them was to have the basic city rental license. The tenant who would be operating this would be responsible for all licensing beyond that. I'm wondering if other landlord's have had experience with this and if this is something that has worked out or should be avoided? Thanks in advance for any help

Most (many?) residential landlords require that tenants not operate a commercial activity in the residence, but it all boils down to your objectives and goals. In many places, a "standard" residential district zoning (e.g. R-20) requires use as a 'single family' residence... not 4 people unrelated for a commercial purpose in a single living arrangement. My company treats this activity the same (well, almost) as a Child Care (Day care) center, which is a commercial and licensed activity and not appropriate for our leases of single family homes. Check your local (city) municode to see applicable zoning rules/permitted uses.

Regarding ADA... better make sure you know the rules. You don't want to discriminate in any way against a federally protected class.

Originally posted by @KENDRA J. :

Hi

I have been contacted by an assisted living company that is interested in renting my home to use as a small 4 client assisted living home. They currently have another assisted home in a different part of town that they run for 5 years and are looking to add my rental home as a second. I checked them out and they are fully licensed. Contacted my city rental licensing ( i live in one of those cities where landlords are required to have their properties licensed) and was told my only requirement with them was to have the basic city rental license. The tenant who would be operating this would be responsible for all licensing beyond that. I'm wondering if other landlord's have had experience with this and if this is something that has worked out or should be avoided? Thanks in advance for any help

As long as they have a good track record, it can be a great deal. Since the company will be making money per bed of the house, you can usual get them on a lease higher than FMV rent in your area. Also, most states require at least an annual inspection of the facility by the state in order for the company to maintain their liscense. This means there is a high incentive for them to take really good care of the facility.

From a liability aspect, nothing changes on your part. Have your standard Home/Hazard insurance on the property and your personnal "umbrella" policy for liability.

The company itself will be required to maintain their own insurance and each patient/resident under their care will sign a contract with that company, not with you as the property owner.

I have a 5 br home in Oahu, HI leased out for the next 3 years to a residential assisted living facility above FMV rent.

Biggest thing is making sure that the company does THEIR DUE DILIGENCE in pulling the permits and making any changes to the home in order to comply with the state regulations.

I am looking for a rental property as well, for a residential assisted living or Adult Day Care. I'm considering lease with a 5 yr or 10 yr contract with a option to buy. I can only Speak for myself when I say. It is good to make this type of deal if you have a property that's hard to sell or sitting. My offer was 500.00 on top of the mortgage. So the owner also makes a monthly profit. Abd I do all upgrades and licences

I'm looking at different ways to turn my mom's home into assisted living home? I had to make  her house handicap accessible with the bathrooms and Doors. It's a big house so was wondering how I go about finding a group that runs Assisted Living company I will check out my mom's house see if it's compatible for them.

I have 3 bedroom 2 bath residential home in a nice area on a nice block which all the neighbors have well kept up and clean homes. How would I be able to find an Assistant Care living to rent my property. Any help or assistance would be greatly appreciated. 

Thank you 

I am looking for a 4+ bedroom home to lease for 3 years to 5 years with an option to buy. I am interested in a home that is located within Houston-Katy-Cypress-Spring-Missouri City-Richmond area to turn into a residential assisted living. Anyone that knows a landlord that is interested in leasing let me know.