Has anyone leased their units to transitional housing companies?

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Has anyone leased their units to transitional housing companies?

John SilvaPro Member
Member since 2021 · 1 post · 0 votes

Hi all,

Has anyone leased their units to companies providing services to sober living or elderly care services?

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    1y
    Quote from @John Silva:

    Hi all,

    Has anyone leased their units to companies providing services to sober living or elderly care services?


     Yes. You should confirm zoning allows it, then talk to the neighbors to ensure they are OK with it. You have to screen the company to verify they hold the appropriate licenses, insurance, etc. I would also charge a lot more than I would for a residential rental.

    Honestly, I wouldn't recommend it unless you've really studied it and understand how to protect yourself and earn fair compensation.

    The DIY Landlord Book4.7248 Reviews
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  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    1y
    Quote from @John Silva:

    Hi all,

    Has anyone leased their units to companies providing services to sober living or elderly care services?

    Can be profitable ,BUT, my experience as a hard money lender is that there are many companies operstimg in this field that aren’t very stable financially. 
    Private Mortgage Financing Partners, LLC
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  • Charlie CameronBusiness Member
    Investor · Niceville, FL · Member since 2017 · 450 posts · 366 votes
    1y
    Quote from @John Silva:

    Hi all,

    Has anyone leased their units to companies providing services to sober living or elderly care services?

    Yes. We got burned on sober living due to state under regulation switching to over regulation. We won’t make that mistake again. We are all in on assisted living - these homes are so much more needed and in a protected class that once licensed, they’re usually grandfathered in forever. And the demand is only going to increase incredibly over the next two decades due to demographics and lack of supply and building. 
    We have a portfolio of homes we lease to assisted living operators that cash flow on average 3K a month. Little harder to get into but great when you do and find the right operator to lease your home for 3-5 years! Happy to answer questions. 
    The RAL Room Assisted Living Mastermind
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