Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago, 05/01/2019

User Stats

149
Posts
13
Votes
Allen Lopez
  • Rental Property Investor
  • Baton Rouge, LA
13
Votes |
149
Posts

PM wants me to rent out to a sober living home? Thoughts

Allen Lopez
  • Rental Property Investor
  • Baton Rouge, LA
Posted
So I just purchased a house in Louisiana. my PM is offering me to rent out my house with a 5 year contract to a sober living home he manages. Rent numbers look great. Specially a 5 year contract. I no absolutely nothing, about sober living homes. Recommended doing it? any warnings? experiences? So the lease would be with him. At which point, he would stop being my PM and just be the lease holder. The house would have anywhere between 5-7 people. With inspection in the morning, for cleaning, and curfews to prevent people from going in and out. That’s what he tells me. Supposed to be just like a normal contract with just 5-7 people in the house but the lease would be just to him. He is a professional realtor so I would assume the money would be secured. My fear is that 5 years is a long time! If I have to evict them, how does that work? With him being on the lease and they living in the house?

Loading replies...