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Updated over 3 years ago on . Most recent reply

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38
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David Hansen
  • Investor
  • Toledo, OH
11
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38
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Do (Handicap) Accessible Rental Properties bring more cash?

David Hansen
  • Investor
  • Toledo, OH
Posted

So, do (Handicap) Accessible Rental Properties bring in more cash?  If not more cash, would a tenant stay in the property longer?

Is there a market for accessible rental properties?   Are potential ambulatory tenants reluctant to rent an accessible property?

These are the questions I wonder about.  If the right property came available that would only require a few extra thousand dollars to convert to "accessible", would it be worth it?   

Most Popular Reply

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Marcia Maynard
  • Investor
  • Vancouver, WA
4,335
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Marcia Maynard
  • Investor
  • Vancouver, WA
Replied

If the property is well suited to making it accessible, then I would. Universal design benefits more people than just those with disabilities, so look into what it would take to convert the property. There's a real need for more units designed to be accessible. Good for those with mobility and sensory disabilities. As we age, it's not uncommon to develop some disabling medical conditions. Many seniors want to age in place and make good long term renters. There's real savings in having fewer turnovers. We don't charge any more for a unit that has accessible features, but it widens the pool of potential renters, so all's good.

If you have a disability or are temporarily able bodied, raise your hand. :-)

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