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12 March 2024 | 3 replies
The issue with those furnishings is they'll likely only be useful to a senior home.
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12 March 2024 | 2 replies
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 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 to 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 to 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.I know tons of investors who are renting out their properties using this strategy here in Fort Worth.
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12 March 2024 | 1 reply
If you don't have any debt, a 750+ credit score, and income, you should not have any issues being approved for a mortgage.
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10 March 2024 | 9 replies
Example:Late rentUnpaid rentNoise violationUnauthorized occupantUnauthorized petAbandoned rentalAfter creating your list, consider the law and advice from NOLO and build a policy or process for handling that issue.
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13 March 2024 | 11 replies
Which only would leave street parking for the ADU.I wonder how much of an issue this would be for potential renters in LA?
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12 March 2024 | 4 replies
Understanding local regulations and zoning laws is crucial to avoid legal issues.
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12 March 2024 | 5 replies
.- In the case of multi-family properties, sharing a home with two or three other families where everyone knows everyone can create issues if they don't get along as the close proximity doesn't allow for any privacy.Happy to connect with you and speak in more detail if you are interested in Massachusetts!
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12 March 2024 | 5 replies
He still hasn’t moved in because of some medical issues (as per him) and hospital admission etc etc and saying will move March 15th now.
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12 March 2024 | 12 replies
Any issues, suggestions, considerations or anything you want to discuss?