Follow the Curve: Why national trends in Seniors Housing occupancy data should matter to Independent Owners If you even occasionally read any Seniors Housing publication, you would be hard pressed to avoid the topic of the declining industry occupancy statistics published by the National Investment Center for Seniors Housing & Care, Inc (NIC), the preeminent healthcare real estate database and industry advocate. NIC recently released second quarter 2017 data that displayed several interesting points: The largest inventory growth for Seniors Housing in a single quarter since NIC MAP began its reporting in fourth quarter 2005. Seniors Housing occupancy fell to 88.8%, down 50 basis points from the first quarter 2017 and 140 basis points below …show more content…
These changes will find their way into every market – how will independent owners be prepared to react? Absorption and the question of market penetration Much of the decline in occupancy has been attributed to the massive influx of new units brought to the market. Over the previous year, more than 22,000 units were added to the Seniors Housing stock. Of those 22,000 units, only 15,000 have been absorbed to date. The second quarter of 2017 alone brought online approximately 6,000 units – the largest quarterly increase in new units since NIC began collecting data. While stabilized communities (facilities older than two years or if less have already reached 95%+ occupancy levels) continue to show strong occupancy levels (90.4% nationally), the influx of inventory will eventually work its way into affecting occupancy at older stock as newer Seniors Housing residents will have a choice between providers. Capital Listens While acquisition and development capital will always analyze deals on a local level, troubling national headlines relating to low occupancy could cause capital’s purse strings to tighten. Seniors Housing has few publicly available data points, occupancy statistics being one of them. Many investors speculate that we are in the later innings of the investment cycle and all eyes are scanning the horizon for any signs of trouble. Might the recent low occupancy figures be those dark clouds? Institutional
My occupancy levels have been very low over the last 3 years. My home registration is for 20 care of the elderly
For most tenants they have been replaced by Housing Benefit. The sale of Dundee’s council housing to tenants and mass transfers of stock to Registered Social Landlords, have reduced the numbers to approx 14,000 current stock. As the role of council housing has diminished, Housing Associations have been encouraged to take over the limited opportunities for development.
The following is a report on two Residential Aged Care (RAC) service providers listed on the Australian Stock Exchange (ASX), with the purpose of this report being to assess the viability of these companies as an investment option. The companies will be assessed on profitability, solvency, liquidity and value. RAC is relatively new to the ASX, with only a small number of listed companies therefore industry specific standards are not available for comparison. Hotel and Leisure Industries (HLI) have operational similarities and will be use as a substitute for comparisons. RAC is a growth industry with demand for beds increasing by 3% per year. The projections are for an increase of 70,000 beds by year 2022 to meet the forecast
Investors have a number of development options in this community. Since it has remained primarily residential for years, there are many different vacant lots developed. The community's real estate prices are rising, so investors have the option of just buying the lot and leaving it vacant until they sell it.
Two studies are conducted to compare the experiences of seniors living in high-rise public housing to those of seniors living in townhouses with subsidized rent. The first study interviews 40
The New York City Housing Authority (NYCHA) is the “largest public housing authority in the nation” (Developments, 2015). In existence since 1934 (About NYCHA: NYCHA at 70, 2015), NYCHA is a low to moderate income public housing initiative consisting of 328 developments throughout all five boroughs of New York City. More than 400,000 residents benefit from these developments through the receipt of not only apartments but additional services provided by each development and New York City overall. Over recent years the NYCHA developments have been experiencing a reduction in government funding, forcing the organization to re-evaluate strategies addressing maintenance of old buildings (About NYCHA, 2015).
In fact, according to an article by Senior Care Marketer, “The senior care industry is booming and it’s just getting started as the baby boom generation cares for their aging parents and require care themselves as they transition into their own senior years. People sixty-five years and older represent the fastest-growing age group in the United States, and it is projected that the 75+ population will increase 70% by 2025. By 2030, 70 million Americans will be over the age of 65 – that's one out of every five Americans!”(Senior Care Marketer). With that said, there a number of competing firms that are seeking to reap the benefits of this growing industry. Sunrise Senior Living is currently the leading competitor in the senior care industry. However, there are number of other firms that are close behind including Brookdale Senior Living, Emeritus, Gentiva, Odyssey Healthcare, and ResCare.
I have also noticed this is the population who most often isolates themselves from the rest of the residents. They chose to remain in bed, keep to themselves, and not get involved in the activities offered at the facility. It seems they fear being involved in the life of the nursing home means they have accepted their current situation, and they do not want others to think that. I have often heard these residents say things like, “I don’t belong here” or “I don’t want to be around all those old people.”
The aim of the City of Sydney Affordable Rental Housing State Environmental Planning Policy Strategy (SEPP) is to protect existing affordable housing and to facilitate ¬¬¬¬¬new affordable housing in the City of Sydney to provide for social, cultural, environmental and economic sustainability. The key of this strategy is to increase the amount of affordable rental housing in the local area to very low, low and moderate income households; protect existing stock of low cost rental accommodation; encourage a diverse range of housing in the local area; and work with other inner Sydney councils to address affordable rental housing at a regional level. According to the SEPP, affordable housing is refers to housing that does not take more than 30% of a very low, low or moderate household’s income. It defines affordable housing as very low income household as
affordability in the area and create higher density housing with a planned 2,828 new dwellings. It plans to have diverse housing types for all socio economic groups to prevent exclusion and support the economic and social sustainability of the area.
The Topic of my research paper is How to Start Your Own Assisted Living Business. I choose this topic because I have some experience in the health care field. I am a certified Medical Assistant and I wanted to take my education to the next level. The Health care job market is on high demand and is one of today’s most dynamic fields with a wide range of opportunities. I came to realize that the older you get in this country options for housing, health and personal care services become limited.
The Westmount Retirement Residence (WRR) is calculating the cost per resident by dividing the total costs by number of residents. This number is then multiplied by inflation of 5 to 8
The housing crisis that has cast an overbearing shadow within our elderly communities across the United States is by far one of the worst human service issues I have witnessed. Those within the elderly community have somehow become the largest population of people that fill up our homeless shelters, owners of our foreclosed homes, and unfortunately have the least amount of affordable housing developments provided for them to live.
The provision of new social housing was switched from local authorities to non-profit housing associations and some existing properties were transferred to them. Whereas in 1978 32 per cent of all housing in Great Britain was owned by local authorities, the proportion was under 19 per cent by 1995 (Hills, 1998:8). Similarly, the provision of residential care for the elderly is increasingly by the private sector, even where the public sector is the source of funding. In 1974 local authorities supplied 100,000 out of 130,000 residential places for the elderly; by 1995 they provided only 50,000 out of a total of 230,000 ( Evans, 1998 cited by Hill,
I set out to find out how practical it might be for landlords to consider buying and renting out a property with the view that one day they would be able to retire and live in it.