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13 March 2024 | 17 replies
Quote from @Dillon Cook: Just talk with the seller and ask them prior.
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12 March 2024 | 1 reply
Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate a higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property for standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.
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12 March 2024 | 2 replies
Hi, I was recently reached out by someone who wants to rent my 3 br 1.5 bath and use it as a assisted living facility for adults.
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14 March 2024 | 35 replies
Drip, Keurig, whatever...just have one. 8 - Cooking supplies...you will NEED at least a few pots and pans of various sizes.
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12 March 2024 | 2 replies
I am considering a long-term rent out to a business instead such as a care facility.
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12 March 2024 | 2 replies
You can't have 2 cooks in a kitchen" per se.The best suggestion for a "partnership" would be where one gives the money, the other does all of the work.The one giving the money must know exactly how much percentage or profit he/she is getting and be 100% happy with it.The one doing the work honors the agreement no matter what.
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13 March 2024 | 8 replies
It's a unique facility that serves functional activity such as YMCA.
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12 March 2024 | 4 replies
Put in headphones when you are cooking breakfast and listen at double speed, and it is a great way to learn at an accelerated rate.
13 March 2024 | 19 replies
Too many kids toss them into a sub standard facility or leave them to fend for themselves, which is shameful.Now, I would be on the fence on this.
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11 March 2024 | 7 replies
Purchased from a church that use to use it as a daycare facility.