An assisted living facility can be a great source of income.
If you have a home with several bedrooms, there is an opportunity to convert the house into an assisted living facility (ALF). Before you embark on this endeavor, there are a few things you need to do in order to make it legal. Those things may include getting a license, background checks and more. Though there is some red tape, with a little bit of time and effort, you can turn a house from a single family home to one for several people who need living assistance.
Instructions
1. Check your mortgage (if you have one) on the property to make sure that you can re-zone it to an assisted living facility. There may be fine print in the mortgage contract that either prevents you from re-zoning or would demand payment of the balance of the mortgage in order to re-zone. This can be a huge impediment to starting an ALF.
2. Consult your homeowner's or neighborhood association (if applicable) to be sure that it allows conversion to ALFs. Many do not allow this type of facility, while others may allow it with conditions. If you try to open the ALF, and it is against association rules, it may have the right to not only shut the ALF down but possibly even repossess your home.
3. Apply for a zoning permit that will allow you to convert the property to an assisted living facility. There is a fee involved which varies from state to state.
4. Apply for a business permit to open an assisted living facility. Though the conditions that need to be met vary from state to state, they can include background and credit checks, which could take a while to perform. There are fees involved, and these also vary.
5. Hire contractors to convert the building, if necessary. If the house is already properly laid out for an ALF, you can skip this step. Most homes, though, require some reconstruction to allow for more rooms.
Tags: assisted living facility, living facility, assisted living, assisted living, facility There, from state
