House-sitting pretty - America's Home Caretakers - company profile

House-Sitting Pretty House sitters for America's Home Caretakers have the best of two worlds. They live in homes that normally would rent for $500 to $1,500 but pay a monthly fee of only $150 to $200.

Brian Graves, president of the firm that provides temporary live-in caretakers for vacant houses and condominiums, says it offers a great opportunity for young couples: "They can save the money for a down payment on a house of their own."

But homeowners are the real beneficiaries of his service, for two reasons:

(1) Occupied houses sell faster than vacant ones.

(2) Caretakers protects the homeowners' investment.

Vacant houses are more vulnerable to vandalism and damage from such things as undiscovered frozen pipes or leaking roofs, Graves points out. Vacancy clauses in homeowners' insurance may automatically exclude coverage for such damage if a house has been unoccupied for 30 days or more.

And rates to insure vacant homes are at least four times higher than regular homeowners' insurance.

Graves got the idea for the business during the last economic downturn, when so many houses were on the market, often with absentee owners. He is the first to point out that house sitting is not a new idea, but, he says, it is usually privately arranged. His business is an organized, professional service that provides a live-in caretaker until the house is sold.

The service costs the homeowner nothing. The only fee is a minimal monthly amount paid directly to Caretakers by the temporary occupants of the house. (The homeowner, of course, has to keep up any mortgage payments.)

Graves says he has no trouble attracting reliable people to serve as live-in caretakers: "They are quality people who hope to save a little money and don't mind a little adventure." They are referred to him by churches, colleges, real estate agents and other caretakers. His company thoroughly screens all applicants, who must be bondable, and carries tenant liability insurance on them.

Temporary caretakers average three to five months in a house, although there is no minimum or maximum length of stay.

In return for their bargain housing, they pay the utility bills and keep house and yard in apple pie order. They may have neither children nor pets and must have sufficient furniture to decorate several rooms tastefully. And, of course, they must be willing to move--often on short notice.

His business is "definitely not a get-rich-quick scheme," Graves says. "It takes plenty of hard work." He says the secret is attention to detail and guaranteed performance. Caretakers not only is careful in choosing someone to live in a home, it also regularly monitors the house to be sure the place is being properly cared for. Graves' formula is paying off--he projects net income for 1986 at $100,000.

Graves, who went into real estate after running his own retail music business for 25 years, started Caretakers with two partners in April, 1984. He has since bought out both partners.

The business, headquartered in Redmond, Wash., now serves about 100 homes in the Seattle area and has expanded to include a half dozen associates in satellite offices in Washington and Oregon.

Clients include 20 Northwest financial institutions, which Graves considers an important measure of both his firm's service and success.

Graves says Caretakers has a long-term goal of developing franchises nationally but does not want to move too fast.

"Any new business is very fragile," he says. "We'll have to have all our ducks in a row before we franchise."

But the future does look bright. Graves cites U.S. Census Bureau statistics that almost half of houses sold are vacant six months or more before sale.

That figure represents plenty of homeowners who are potential customers for Caretakers' brand of tender loving care.

COPYRIGHT 1986 U.S. Chamber of Commerce
COPYRIGHT 2004 Gale Group