Handicap Accessible Apartments

[Allie Schraeder]

I was talking to a guy at work who's in a wheelchair, and he said he's been looking for an apartment in the area for over a year now.  He'd need a ramp or elevator, wider doorways, and a larger bathroom with grab rails.  Some other features like low countertops are wishlist items for him.  He can't find any landlords willing to renovate for extra money either.  I neglected to ask if there were local organizations that could help with that sort of thing, but I'm willing to bet he's already tried that route if it exists.

It got me thinking that this could be a good niche to get into.  Sure the renovations would be expensive up front, but I'd imagine the rent would be higher to cover that and tenant turnover would be nonexistent.  I'd guess that most handicapped people buy instead of rent to get around this, but that's got to be tough if you can't afford a good downpayment and the reno.  What do you guys think?