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Can I Rent Out My Condo While Receiving Medicaid Long-Term Care Benefits?
Can I rent out my condo while Medicaid is paying for my long-term health care? I pay a monthly maintenance fee, but have no mortgage. The nursing home already receives my Social Security, Teamster's pension and VA monthly benefit. Will the condo rent be condidered income as well? (I live in Florida.)
While I can’t give you a definitive answer about Florida, in most states the answer is yes. You can rent out the condominium and contribute the net rent, after costs of maintaining the property, to your costs of care in the facility. To be sure about Florida, check with their Medicaid agency or a local elder law attorney.
For more on how Medicaid treats income, click here.