I just moved into a larger home and am looking to rent out my 3 bed 1 bath starter home. One interested person reached out asking if I would be interested in renting it to her for her to start an adult family home. I am checking with the local municipality to see if this is okay but was wondering if anyone has tried this before? The whole situation is new to me and being a first time landlord I am not sure if this seems like a good idea, even though it does seem like it would have stable long-term potential.
Posted by kev246924
3 Comments
That’s probably going to vary state to state. Where I am, it takes about a year to get fully approved to operate. Many of the people who operate them simply rent the home from an owner who has done all the work to establish it.
Quite possibly your Lender or Insurance Company would potentially not be happy with this.
Is the interested person want to turn it into an assisted living home for adults/seniors?. What state is the property located?.