Topic: We recently acquired a property and the owner would like to open a daycare.

We recently acquired a property and the owner would like to open a daycare. Has anyone done this at their property, and if so, where did you start to find someone who wants to lease a space to open a daycare? I think its a great concept, just at lost on where to begin, as calling different daycares has lead us nowhere. Since this a new concept to us, we are at loss, and any suggestions would be great!

The child state agency, maybe. We have really tough predator laws when it comes to daycare and distance. I don't know how that would work in a muti-unit space

I would also be talking to the owner to ask what the expectation is when the daycare teachers are out sick or on vacation will you be required to fill in? If it’s anything like my daycare that could be daily.

Where are you located?

Fort Worth, TX

That’s a big question to answer in a FB response. I have done this at an apartment property. It’s not nearly as easy as you’d think, quite difficult. Staffing is the biggest issue. I’ve also done the after school sort of set up, kids can come to do home work, have snacks, crafts - requires limited staff. First question is whether or not you want to change diapers.I sit on the board of the YMCA for my city. Y operates several day care and preschool facilities. I’d be happy to have a phone call with you or email exchange.One option, and might be your best. If you have the space and facility for a day care (there’s some specific requirements for the building) is to outsource or lease the space to an operator, suck as the Y.

Chris Finetto she means leasing to a day care not operating one. Staffing doesn’t factor into that problem although there are lots of others if it is going to be build to suit.

Miles Scruggs - My bad, read too fast. I’ve done most every configuration of this. Best success is to partner or lease to someone or a group that has other facilities. When you do the two parents who are just wanting to offset their own day care costs, they crap out after a year. Or when the operators don’t show up to work and the parents just leave the kids in the leasing office - yes, that happens.

Why wouldn’t you lease out the space to a daycare rather than getting into a business they know nothing about

That is exactly what I am asking, how to go about finding someone to open their daycare onsite. We definitely do not want to be daycare providers! Babysitting residents is enough in our business

I would start with a broker who is willing to market to daycare providers who could lease out the space. WAY too much risk for the property owner / management company to be involved. You are talking about the lives of little humans and are likely not qualified. Insurance also may not cover should something happen as it is not what you are insured/trained for.

The one little tidbit I know about this topic is I have a client who owns a multi family property with a daycare business on the first floor commercial the upstairs tenants may never have pets it’s an insurance issue something to keep in mind not sure if this is just a commercial or multi use

At my last company we opened a day care in the retail space on the first floor. The buildout was very extensive with lots of permits and fees required, but once it was done it was a great concept that really helped sell the community. I would recommend reaching out to a commercial broker as they might have clients that want to open a day care.

Not sure the size of the space that you have available but I would reach out to daycare franchises (The Learning Experience, Kids R Kids, Children’s Lighthouse, etc) and see if they are interested in opening a location in your area. Also not sure if your wanting it to only be for residents or open to public. Think that would make a big difference.

I would definitely go through the state, in order to ensure proper licensing and insurance. The property owner may also be required or encouraged to carry additional liability insurance. This is a great amenity to offer your residents, and even teammembers. I'm interested to see how it works out for you.

Maybe reach out to foundation communities for advise or to be pointed in the right direction. They provide services such as this and are hugely successful in Austin.

Tanesha, what has the leased space been used for prior to your acquisition? How many square feet is it?

I would first confirm a strong solid interest in tenants that would want daycare services and would be willing to pay a premium on a property that had a daycare. If you can’t demonstrate that then it begs the question of why put forth the effort to put it up n place. So many things are done as an idea without data to back up if it is a good idea.

If you go through their multifamily partnership program. It used to be called Pillow

Dear mam,I'm having multiple roles experience