Interested Operators/Service Providers can click on the “Application” tab. This will direct you to a brief 3-minute questionnaire that will provide us with the necessary details and contact information we need to get started. After reviewing the information submitted, we will reach out to you to discuss your goals, ideal location(s) and terms.

Pillar Housing acquires & leases both residential & commercial facilities ranging in size from 5 licensed beds to 100+ licensed beds.

A typical Agreement with a Service Provider ultimately depends on a variety of factors including (but not limited to):

a) market conditions

b) size of the facility

c) location

All Agreements are commercially based and for a duration between 3 -10+ years (depending on the organization Pillar Housing is working with). Pillar Housing would be responsible for all property taxes, property insurance, and initial capital expenditures on the major structures of the property (including the electrical systems, plumbing, roofing, etc.). Operators are responsible for all utilities, landscaping, appliances, ongoing maintenance, etc.

A purchase/lease option is a separate agreement (called an Option Agreement) that corresponds with the lease that allows the operator to have the ability to purchase the facility after a set number of years of faithfully executing the lease agreement (ie: an ability to purchase a 10-bed facility AFTER year 5 of the Lease Agreement). This program is also referred to as “Rent-To-Own,” and is available for select facilities.

Absolutely not. Doing a purchase option is entirely up to the Operator and their Organizational goals.

If an Operator elects to move forward with doing a purchase option, an Option Agreement must be executed. Pillar Housing requires a non-refundable option fee - usually 5-10% - due at the beginning of the Lease Agreement. This fee is non-refundable and is applied towards the purchase price. The future purchase price is based on the total acquisition costs (purchase price + renovation costs), plus a 5% annual increase. After the minimum number of years outlined in both Agreements are fulfilled, the operator will then have the option to purchase the property at the set price according to the agreed-upon terms in both Lease and Option Agreements.

Pillar Housing requires that all potential operators complete an application form and provide financials for their current business(es). Financials include (but are not limited to):

a) last 2 years tax returns

b) last 2 years profit and loss statements

c) pro forma profit and loss statement for the subject property

d) 3 month’s bank statements showing at least 3-6 months of rent payments in reserves.

Personal financials of the Guarantor may also be required.

Yes. However, we may require personal financials (such as paystubs, tax returns, banks statements, etc) instead of business financials. Furthermore, we require that you have at least 3-6 months of rent payments in reserves.

The process of getting you the facility you need can be broken down into 3 main parts:

1.) Identity

2.) Acquire

3.) Lease

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We first start the process by working directly with you to IDENTIFY your organization’s housing goals & needs. This includes the ideal location, style and size of the facility. This is what makes filling out the survey on the Application page so important.

Once terms have been approved, we then work with our team of capital partners, investors and real estate professionals to ACQUIRE/purchase these facilities with you in mind.

Finally, once we have purchased the facility, we then LEASE it to your organization.

All of which allows you to further accomplish your goals with ease and confidence.