Converting Rental To Half-way House?
Have any of you seen a successful conversion of a rental into a half way house?
I've read my city's municipal code, and it appears as if a property I saw today could meet the requirements.
Making the property a half way house would maximize income, but I am sure there are many problems to consider. I would need to find someone to manage the property, of course. I'm thinking local psychology graduate students could do well with free rent, especially if I put them on a payroll and simply paid them back what they otherwise would pay for rent in this area. They obviously would need to live on the premises.
Aside from the management, what else could go wrong? What else would I need to consider?
Please feel free to just brainstorm with me. I'm just rustling the leaves to see what falls out. This is a very expensive property, and I could just sit on my cash, but I'd rather make it grow in San Diego if I can....
Thanks,
MarleneM
I learned that my half-way house idea would not fly in the neighborhood I was considering because gang members would be sure to sell drugs/alcohol to at-risk residents.
After talking with the former owner of two half way houses, successful half-way houses typically are properties with lots of bedrooms and are isolated from gang activity.
Gangs have seriously tagged the back four alley-side garages on the property I was considering :-(