Senior shared housing

2 Replies

Does anyone have any experience with senior shared housing? I have come across a company who focuses on one story ranches and customizes them to make them senior friendly and it sparked my interest. The rooms are rented to seniors who prefer not to live alone. With the influx of baby boomers retiring this seems like an interesting strategy. 

I would imagine that in certain areas you need a special type of license or zoning to rent rooms?

Marketing seems like it could be a challenge if seniors have trouble with technology and internet? 

Thanks!

Originally posted by @Jeremy Chaudet :

Does anyone have any experience with senior shared housing? I have come across a company who focuses on one story ranches and customizes them to make them senior friendly and it sparked my interest. The rooms are rented to seniors who prefer not to live alone. With the influx of baby boomers retiring this seems like an interesting strategy. 

I would imagine that in certain areas you need a special type of license or zoning to rent rooms?

Marketing seems like it could be a challenge if seniors have trouble with technology and internet? 

Thanks!

 Jeremy,

I am actually currently looking into this as there is a property near me for sale. It is being sold as a business as it includes the physical property, as well as the license to operate. One deal with two separate transactions. Im not sure of the laws in PA, but in CA there are a number of licenses and requirements to operate. Additionally, you need a full time staff with apx 1:1 staff to pt ratio. Each county within the state is different. I am still researching and very green into this, but the returns are pretty incredible. Looking at 500-1000$ per bed per day.

Hello, I own and manage 70 SFH in the St Petersburg FL area. I have had similar thoughts as to senior shared housing in Single Family Homes. Renting the rooms and possibly tying in services for a part time aid (visiting angels) and meal delivery services (local grocery or Uber Eats). I would think if it is not an assisted living space and like a college room situation, assisted living licenses would not be required. My question is, I assume the number quoted at $500 a day is for insurance covered housing? What is reasonable to charge? Is it worth the effort vs renting the house for $1700 a month to a single renter? I would love to also hear from someone who is already doing this business model and would love to share ideas on how to make this happen.