Shareholder Shawn Rader discusses how assisted living facility corporations could benefit from getting involved with accessory dwelling units, whether it's building them or offering loans and mortgages for them.
On Sunday, February 7, 2021, The New York Times published an article entitled, “Converting Backyards into Family Compounds,” involving the latest trend in assisted living – accessory dwelling units. These are small homes built on the property of existing homes usually in the backyard which used to be referred to with antiquated nicknames such as “mother-in-law suites” or “granny flats.”
While the cost of building such a home for one’s parents is expensive, it is on a comparative basis less expensive than putting one’s parents into an assisted living facility. [Read more]
This is an excerpt from a blog post originally written on Gray Area of the Law.
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