Co. interested in renting my SFH as assisted living home .

Co. interested in renting my SFH as assisted living home .

Florissant, CO · Member since 2013 · 184 posts · 69 votes

Greetings;

Here's a new one? I have a SFH in Milw. WI; my prop. manager has forwarded an email from a company interested in a long-term corporate rental of my SFH "to accommodate the personal care and assistance to permanently placed residents with deficits ranging from developmentally disabled to advanced age." Looks like they want to use it as an assisted living home .

I cannot find much of anything on the web about this group - apparently very local - have 2 other 'houses' in Racine, WI. They are registered with the State of WI to provide these services.

Does anyone have any experience with this? Any red flags? Obviously concerned about MY liability . . Would appreciate your comments while I investigate this further . . it probably won't pan out - my house is not very big . .

Kelly

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  • Property Manager · Big Bear Lake, CA · Member since 2013 · 585 posts · 330 votes
    13y

    Even though they are registered to provide these services, you may need a permit of some sort to use your house for this purpose. Try calling your city or county offices for info.

    You should also call your insurance company to see if this type of operation would be covered. I'm guessing that you will need a special policy.

    Like you said, it probably won't pan out. But, it can't hurt to find out some information anyway, with just a couple phone calls or so.

  • Rental Property Investor · Sacramento, CA · Member since 2011 · 2k+ posts · 1k+ votes
    13y

    @Kelly G. in addition to checking into these detail, it might be a good idea and do a little footwork and the nearest assisted living home to you. Placing a few phone calls to reputable homes might give you some insight as well.

    Best to you

  • Florissant, CO · Member since 2013 · 184 posts · 69 votes
    13y

    thanks for the ideas - no word back yet on the email I sent the company -

    Kelly

  • Rental Property Investor · Atlanta, GA · Member since 2013 · 119 posts · 28 votes
    13y

    Definitely vet them more. Ask to visit their current operations and to view their financials.

  • Investor · Sugar Land, TX · Member since 2013 · 26 posts · 2 votes
    13y
    My grandparents stayed in one for a while. It was nice and clean every time I visited. I would rent to them as long as I had tile floors in most of it. Good luck.
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