Senior Housing
Among all other factors, seniors consider convenience and accessibility a priority when looking for housing. This is because they are at a phase in life where they want to relax and live life to the fullest as they retire. However, there are other special factors to consider in building senior housing that matter as well.
Some property managers overlook these factors that matter to many potential residents, and in turn, they end up with lesser properties that lose many prospects. Because their perks and amenities suffer, they tend to attract stubborn tenants, especially when the perks and amenities they offer are mediocre at best.
Retirees go through a lot of change at this phase in life. From living a new, independent lifestyle to getting used to senior housing and assisted living — the adjustment period can be harsh. As an accommodating and attentive property manager or owner, you want to make the living conditions for your senior clients as caring as possible but also as efficient as possible. This will also allow you to attract better tenants and grow profits. Senior living property management software comes in handy to do these things with greater ease.
Below are some tips to attract better 55 and older residents.
Seniors always prefer quiet environments where essential facilities are also nearby. They appreciate living in a place with access to these establishments but one that is still peaceful.
Therefore, when advertising your property to these seniors, discuss with them accessible amenities such as health care facilities, recreation areas, grocery stores, libraries, and medical clinics. These establishments appeal to seniors, and this is one of the best tips to attract better senior tenants, especially if they are within walking distance. Making life convenient for seniors is one of the best ways to attract them to your property.
One of the best ways to attract seniors to your property is to make life convenient for them. However, the peacefulness may come from situating your facility somewhere known for being a family-friendly environment.
Aside from the neighborhood, you may also want to consider the architecture of your own property. Elders often have limited mobility and will appreciate not having hurdles to overcome when journeying around the complex. Building ramps everywhere you can (even where not required by the Americans with Disabilities Act or ADA) can help wheelchairs easily navigate through the area.
Add grab bars or anti-slip steps near the toilets, tubs, and sinks. Shorter front steps and flatter driveways can also help the elderly access other amenities more effortlessly. Considering accessible living for the elderly is one of the best tips for attracting better 55-and-older residents.
Safety measures are crucial not only for senior housing but also for all kinds of housing in general. Elderly tenants are more susceptible to slips, falls, and other mobility-related accidents. Thus, it is the property owner or manager’s responsibility to ensure that proper safety measures are in place. Aside from ramps and rails, consider working stair lifts, elevators, brighter lighting, and carpeting where reasonable.
For safety concerning security, your property should also have strong locks, security cameras, and panic buttons to make them feel safer while living in your complex. Retiree tenants are particular when it comes to safety. And one of the best ways to attract them to your senior housing is to ensure the safety of the apparatus as well as of themselves from any security breaches or dangers.
There’s a tendency for elderly tenants to be lonely during their retirement. This makes pets feel great company and emotional support. Thus, it’s a good idea to allow pets into your community. You can, of course, enforce rules for pet care and regulate types of animals and sizes. You can also impose a rule on keeping pets quiet to avoid disturbing the other tenants, especially at night.
Allowing pets in the apartment may attract more senior tenants, as only a few housing establishments offer this kind of benefit to their tenants. This makes it one of the most effective tips to attract better senior tenants, as it will ensure your community is unique.
Aside from the above tips, you also have to be aware of the anti-discrimination laws regarding renting to seniors. This law prohibits the prejudicial or discriminatory treatment of tenants or applicants based on disability, age, familial status, ethnicity, race, sexual orientation, gender, and religion. Thus, based on these factors, you cannot simply evict an existing tenant or deny a potential one.
You also can’t make decisions just because your elderly tenant is physically impaired. This would cause you liability to legal action brought about by the tenant or their family members. Not to mention, it could seriously damage your reputation. Remember to treat your tenants equally, no matter who they are.
Aside from the fact that you’re planning to build senior housing, senior tenants are more ideal than others. First, retirees have a steadier source of income. This means that they pay their rent on time and live within their means more than a college freshman getting their first apartment alone. Many have saved for retirement, paid into 401k accounts, and have government retirement benefits to maintain their simple lifestyles.
Next, older people are more peaceful and make quiet neighbors. They tend to enjoy their time alone and are not fond of throwing big parties and gatherings that could disrupt the whole neighborhood. Almost all of them are out of the years when raising children was something they were responsible for, which means there won’t be disruptive children running around the community every day or crying babies in the middle of the night. Grandchildren who visit will be either adults or supervised by them.
If you’re new to senior living property management, you can count on companies like ExactEstate to make the job easier. Preparing the living arrangements for seniors can take a lot of time and resources. Thus, it would be more beneficial for you to try using tools to expedite the process of managing your property. For instance, you may benefit from ExactEstate’s detailed reporting, powerful customization, and online payment processing. The best part is that these tools are customizable based on your business's specific needs and requirements.
Limit inefficiencies and manage end-to-end transactions more accurately with ExactEstate. You can request a demo to see how our software can give your business a competitive edge among an ocean of competitors. This is one of the best tips for attracting better senior tenants in the future. Don’t hesitate to reach out to us for more questions.