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What do you think of this? Have you ever rented to Assisted Living/care facility, or ever ran one?
What kind of risks you can think of? They are willing to pay more and sign a longer contract, so in some ways, it's good for me. On the other hand, I have never done it before (well, there is always a first time for anything, right? )
One particular question - in regular rental agreement I would put down the names of tenants who can reside at property... in this case, what kind of lease would I draw? Their patients might vary, and the ones signing the lease/business owners might not even live there? (only work)
Also, if anyone got hurt while on the property, would I be liable for medical bills? Would I need to carry some kind of insurance for that, or business owners will?
I imagine I should probably ask to see their business license (or even make a copy of it)... what else? Their paycheck stubs from work would also show/prove that they are, in fact, both nurses.
There is huge liability. I suggest that you speak to your insurance agent before you do anything else. He might be able to write you a commercial policy that covers you for a high risk business, or he might not. Or maybe he can and you can't afford it. That's the first place to check.
Is this commercial property? Or a request that a house become a Certified Family Home?
It's a SFH, with potential for duplex.
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Originally Posted by oregonwoodsmoke
There is huge liability. I suggest that you speak to your insurance agent before you do anything else. He might be able to write you a commercial policy that covers you for a high risk business, or he might not. Or maybe he can and you can't afford it. That's the first place to check.
Yes, I was going to call him tomorrow, as well as try to find out more about assisted living businesses in general through local housing authority.
Check with the local zoning office to see if this use is permissible in your zone. You don't want to sign a rental contract then be hit with a cease and desist order from the city/town because a neighbor filed a complaint.
What came to mind for me, is that people may die in the house. They probably won't be left unattended for long, so they'd be discovered quickly, but if there has to be a special crew to come in after someone dies, that could be very expensive.
I live in a senior apt bldg (independent living), but I've heard stories from other tenants about tenants who died here, and it wasn't discovered right away, and a special team had to come from Los Angeles (this building is at the opposite end of CA), and they had to wear special suits, etc., etc. You'd want to be sure any of these types of expenses would be the tenant's responsibility and/or make sure you're insured for it.
The other thing that comes to mind is that it may be difficult to evict them if you ever wanted to, if there are patients in the unit that can't be moved because of their health.
Also, I wonder if there might be odors that would be difficult to get rid of if/when they vacate?
Most CFH must carry insurance, but I would definitely ask to see it.
I am pretty sure they would, and I would make a copy of it.... but was not sure if I should have my own insurance to cover anything that might be left out? (like what?)
What came to mind for me, is that people may die in the house. They probably won't be left unattended for long, so they'd be discovered quickly, but if there has to be a special crew to come in after someone dies, that could be very expensive.
Haven't really thought of that yet... but then again, I am pretty sure a person would be discovered within a few hours, at most. Plus, the cost could be included in lease agreement under "damages to the property", etc.
Quote:
Originally Posted by NoMoreSnowForMe
Also, I wonder if there might be odors that would be difficult to get rid of if/when they vacate?
I rather expect that everything would have to be re-painted, re-carpeted and so on. Fortunately, it would be a long-term lease, so those things would almost have to be done in the end, with any kind of tenants. Larger deposit should hopefully help with that.
Quote:
Originally Posted by NoMoreSnowForMe
The other thing that comes to mind is that it may be difficult to evict them if you ever wanted to, if there are patients in the unit that can't be moved because of their health.
Hmmm... I wonder what the procedure would be in such case...
Properties where someone dies become stigmatized by some. Doesn't matter to me but many people care.
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Please?
