The market for assisted living and skilled nursing homes is driven by need. On the other side, independent living owners must offer a product that is highly desirable on its own accord.
A recent article from the Dallas Morning News illustrates how the recession has impacted the independent living industry. Simply put, seniors have been willing to wait out the bad times before purchasing their new community home or apartment.
With margins already thin, owners could not afford to "ride out the storm" as their consumers were. Instead, many facilities have drastically reduced prices and are beginning to offer various incentive packages alongside the lease. From restructured meal plans to purchase options, owners are utilizing whatever it takes to increase demand.
Of course this only exists as a temporary fix. Independent living owners must consistently strive to create a community environment where seniors can reside without detrimental financial burden.
Evans Senior Investments
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