The following was written by Gene Guarino, founder of the Residential Assisted Living Academy.* He teaches real estate investors how to invest in property and create these residential facilities.
(Part 3 of 3 - Read part 1 here and part 2 here.)
If you’re the owner or the landlord of a single family home, you’re going to be renting that home to a tenant. If the tenant is a Residential Assisted Living (RAL) operator, the renovations you would consider will be different. Remember that ultimately, you’re going to have a long-term, low impact tenant so accommodating them will pay off significantly.
1. Potentially remove bathtubs and create roll-in or walk-in showers.
The reason for this is to have easy access for seniors. By taking out a bathtub and making a smooth entry to accommodate a roll-in or a walk-in shower, you’ve created a safer, more attractive unit. . You may be thinking, “If I take out a bathtub, it’s going to cost me a lot of money to put a tub back in place.” In reality, the drain is the same; the plumbing is still in place. All you really need to do is put the bathtub in and then trim the tile around it, so it’s not a big fix.
2. Add grab bars.
Grab bars are typically in the bathroom, around the toilet and in the shower.
3. Potentially widen the doors.
Guarino suggests focusing on most used doors, such as entries to bathrooms and bedrooms. 36 inches wide is the largest door you can purchase locally. Most homes have 32-inch doors but if you can widen it to 36, it’s an easier entry/exit way for seniors, especially if they have a walker or a wheelchair.
4. Remove carpets and replace the flooring with smooth surfaces.
Carpets are comfortable but can be a trip hazard for a senior. Walkers and wheel chairs don’t move across carpet as easily either. Removing carpets will be viewed as an improved safety feature.
5. Add ramps to outside entry ways.
Some seniors use wheel chairs or walkers and ramps are needed to accommodate them.
Now you know the five most important items when it comes to renovating a home to be used for a Residential Assisted Living home.
About Gene Guarino
Gene Guarino, CFP is the founder of the Residential Assisted Living Academy. Residential Assisted Living Academy™ is an American training organization specializing in residential living center investments. Launched in 2012 by entrepreneur/real estate investor Gene Guarino, Residential Assisted Living Academy™ has trained hundreds of investors, business owners and entrepreneurs regarding this investment option. More information about Residential Assisted Living Academy can be found at www.RALAcademy.com.
*Gene Guarino and RALAcademy are not affiliated with Equity Trust Company or its affiliates. The information provided in this article is for educational purposes only and should not be construed as tax, legal, or investment advice. Whenever making an investment decision, please consult with legal, tax, and financial professionals.