Approached by a PM to turn my SFH into a Sober Living Rental: Any experiences?

[Walker Hinshaw]

I am looking for feedback from anyone who has actually rented out a property to a Sober Living company. What was your experience like? What were the pros? What were the cons?

While attempting to rent out a newly purchased five bedroom property, my property manager was approached by a Sober Living company looking to rent out our property. They are willing to pay a few hundred dollars above market rents and would have essentially 0% vacancy since the sober living company would be on the hook for the lease, not the sober living tenants. 

Has anyone actually had real experience with a similar arrangement or know someone who has? How did it turn out?

[Karen Margrave]

I have! My house in Redding, CA has been rented out the last 4 years to Serenity House in Redding. It's a women's home. They have helped over 100 people in the past 12 years restore their lives, and reclaim children from foster care, rebuild families, and return to the job market. 

Unfortunately for them, I have sold my house and we are currently trying to locate another 4 bedroom or more home for them to lease. Our market is extremely competitive for rentals and homes for sale  so I will be putting an ad on Marketplace, seeking an investor to purchase a property and lease to them, as they can pay up to 2500 for a 4 bedroom, and more for higher number of rooms. win/win. 

My experience with them has been great. They take good care of the house, pay the rent on time, and are easy on the house. Plus it makes a difference!