If you are a property manager looking to add to your repertoire of housing choices, you should consider senior housing property management. There are many opportunities for growth within this niche, including a rise in building projects.
According to Lancaster Pollard, “75 percent of senior housing executives were ‘extremely likely’ or ‘somewhat likely’ to pursue a new construction project within the next year.” The opportunities are high according to this statistic. If you are looking to advance your business, this is it. The properties will need managers.
About the Senior Housing Market
The senior housing market is large and includes several different parts. Some of these parts include:
- Hospice facilities
- Affordable housing
- Independent living facilities
- Memory care facilities
- Retirement communities
And the list does go on. Most of these options can be great option for property managers without specialized training. In recent studies, these facilities are becoming too full to hold potential applicants. This creates a problem for seniors who are looking for housing. In fact, a 90% occupancy rate has been holding steady for some time, however this is trending higher.
It is important to know that according to the executives that were a part of these studies, senior affordable housing will be a leader in the market grown segment for senior housing. Next in line is the Alzheimer’s and memory care treatment facilities, followed closely by independent living and retirement communities.
Senior Housing Benefits
As a property manager looking to change your mindset towards senior housing HOA, you must know that senior housing has changed over the years. They are no longer tough care facilities. Instead, they offer so much more. These benefits include:
- Concierge
- Transportation to and from the facility
- Classes and courses onsite
- Fitness centers and pools
- Parks
As a property manager for a senior living facility, there are many options for you to benefit and give back. At National Property, we understand how difficult it is to make such a big decision. However, we are here to help. Call us today for help with all of your senior housing HOA questions and concerns.
National Property Management Group has extensive experience managing HOAs. Our professional staff is knowledgeable about HOA management in Southern California, serving Los Angeles, Santa Clarita, Valencia, and the surrounding areas. We can manage your HOA properties for you so you have less to stress about. We provide innovative property management solutions that outshine our competitors. There is no property too large or too small that we cannot service.
National Property Management Group
25115 Avenue Stanford A300
Valencia, CA 91355
(661) 295-5966
www.npmgonline.com