Shared Top Border
sdcia_head3.jpg (14795 bytes)
SDCIA Message Board
Sign up Latest Topics
 
 
 


Reply
  Author   Comment  
javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #1 

Anyone here have experience/advice on leasing furnished apartment/homes to the handicapped through the Veterans Administration or HUD, et al?

Pros?   Cons?  Warnings?


__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

chatterweb

Avatar / Picture

Senior Member
Registered:
Posts: 332
Reply with quote  #2 
Quote:
Originally Posted by javipa

Anyone here have experience/advice on leasing furnished apartment/homes to the handicapped through the Veterans Administration or HUD, et al?

Pros?   Cons?  Warnings?



Javipa,

Why don't you just open a Residential Day Care Facility for the Elderly, that way when your time comes to enter a Facility, you can enter one that you already own and operate. 

Just have a Living Trust Set up Accordingly 

Kill 2 birds with 1 stone that way 

__________________
Dogs have owners. Cats have staff.
javipa

Avatar / Picture

Senior Member
Registered:
Posts: 3,380
Reply with quote  #3 
I don't know about a residential 'day care,' since that's not a home.

I've owned board and care facilities before.  Frankly, that's an over-regulated, highly-competitive niche that's not for the feint of heart.  It's like operating a hospital.  That's why I'm not in that niche anymore.

-----------------------------
The reason I'm asking about housing the disabled, etc. is that instead of renting to an individual, you're leasing space to the government, and they fill the beds, and pay for the maintenance.

Speaking of government, I used to rent to Section 8 recipients, which I refuse to do again.  That's a class of clients that I don't want to deal with anymore.  Not to mention the interference from the S8 case workers.  

I've had my rent put into abatement, because I refused to take care of several nit-picking things like popped nails, a ceiling fan pull-chain that was too long for their tastes, a plug cover that was cracked by the tenant, a screen with a corner poked out where their kids were shooting something through the screen, and a punch list that arose from the tenant's abuse of the unit. 

Never mind, I wasn't allowed to ask the tenant to fix those things ...nor deduct the costs from their tiny, itsy-bitsy deposit.  Which later, I wasn't able to collect at all.

So, I politely explained, to the tenant, that I was not going to fix the damages, but if they wanted to fix them, that was great.  Otherwise, this was their notice to quit, and I posted it on their door. 

This tenant, among six S8 tenants I had at the time, was just a hassle.  The tenant did fix the punch-list themselves, and called the case worker to say that everything was completed, and the case worker passed the unit, and I got all the rents again. 

Of course, I live by the axiom, "He who cares least wins."


Anyhoo...


__________________

"Obstacles are those frightful things you see when you take your eyes off your goals." --- Henry Ford "

"149 Ways (Plus One) To Find Motivated Sellers and Get Them To Find You" >>>Click Here To Download 

Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Policy