Friday, April 26, 2024
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Industry Voices

Industry VoicesOperationsTechnology

How to Prevent, Resolve Mold Sickness in Seniors Housing Communities 

by Jeff Shaw

By Jim Oliver, co-founder, Natural Home Solutions LLC Hurricane Lee, Tropical Storm Ophelia and torrential rainfall across the country last autumn season have put more homes, apartments and living facilities at risk for leaking and flooding. Water-saturated structures are prime breeding grounds for mold, but there are ways to prevent, detect and remove it before it becomes a serious issue. For the seniors housing market, taking a proactive approach to mold may be a matter of life and death. As we age, our weakened immune system makes it more difficult to fight …

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DevelopmentIndustry Voices

The SHB Interview: Andy Kohlberg, Founder and CEO, Kisco Senior Living

by Jeff Shaw

Former tennis star turns into one of the biggest owners and operators in seniors housing. By Jeff Shaw It would be a massive understatement to describe Andy Kohlberg’s resume as “unusual.” It’s also very short: • Professional tennis player, 1979 to 1988 (final record of 90-100, including one doubles tournament win. His highest ranking was 142nd in February of 1986) • CEO and co-founder, Kisco Senior Living, 1990 to present • Vice chairman, Phoenix Suns, 1994 to present Taking a year off after retiring from tennis at the age of …

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Industry VoicesOperations

Stronger Teams Deliver Better Resident Care

by Jeff Shaw

By Kenneth Gibson and Lindsay Potter Ask executive directors of senior living communities across the country about their biggest challenges and virtually all of them will mention building and retaining strong teams.  A community’s staff is the foundation of our ability to serve residents and their loved ones with the care and compassion that they deserve. Without an effective team, senior living communities won’t reach their potential and could even become mired in dysfunction.  When we were honored to be named the top senior living executive directors in our respective …

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Industry Voices

Evolving Demographics: A Deep Dive into the Shifting Senior Living Landscape

by Jeff Shaw

By Danette Opaczewski As the senior living landscape undergoes transformative changes, one notable trend stands out: the shifting demographics in seniors housing.  On a national level, the U.S. Census Bureau national population predictions project the country’s population trends through 2100. Overall, the Census Bureau forecasts that older adults will make up a larger portion of the population in the coming years, with a median age expected to increase from 38.9 years in 2022 to 47.9 years in 2100.  Zooming into the senior demographic specifically, the percentage of the population age …

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AcquisitionsIndustry Voices

Question of the Month: Opportunity from Distress

by Jeff Shaw

To what extent will there be opportunities to acquire distressed assets in 2024, and what will be the factors? Defaults may be coming By Cindy Hazzard Broker/President JCH Senior Housing Investment Brokerage The failing debt-coverage ratios due to rising expenses, without equivalent resident rate adjustments, may push lenders to enforce loan covenants. This would trigger defaults for many owners, creating a surge in distressed properties.  If pursued, the focus shifts to what discount lenders might accept to cleanse their books, creating prime opportunities for cash-ready buyers. The market could see …

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Industry Voices

Naturally Occurring Retirement Communities: Friend or Foe?

by Jeff Shaw

By Dan Lindberg, Founder & Principal, Applied Economic Insight According to Housing America’s Older Adults, a report released at the end of November 2023 by the Joint Center of Housing Studies of Harvard University, naturally occurring retirement communities (NORCs) house more older adults than active adult, independent living, assisted living, memory care and skilled nursing combined.  The seniors housing sector has many of its own acronyms like CCRCs (continuing care retirement communities), for example, yet NORCs are one we have not paid much attention to. We should. Such communities, whether intentional or not, …

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Industry VoicesOperationsTechnology

Why Digital Reputation Management Is Essential for Senior Living Communities

by Jeff Shaw

By Holly Koch, Director of Marketing Strategy, SmartBug Media If you are in the senior living industry, you’ve noticed a surge in tech-savviness among seniors and their families. The journey to finding the perfect senior living community unfolds online, often starting by doing research on communities and reading reviews to narrow down options.  Recognizing this digital shift, incorporating a reputation management strategy into your digital marketing playbook isn’t optional any longer — it’s a vital component of a thriving community. The shift in senior living marketing strategies Seniors today are more …

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DevelopmentIndustry Voices

Subpar Construction Threatens Seniors Housing Facilities

by Jeff Shaw

Developers and operators must be proactive to remedy defects. By Megan A. Picataggio, Ball Janik LLP A high volume of construction and development can often result in the commercial real estate industry cutting corners, leading to an increase in construction defect claims and litigation. Multifamily construction projects, including seniors housing, are no exception. In order to deliver a high volume of projects quickly and maximize profits, general contractors modify construction methods to meet demand. This often results in poorly constructed projects that contain a litany of construction defects. It is critical …

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Industry VoicesTechnology

It’s Time for Providers, Aggregators to Come Together

by Jeff Shaw

By Stephen Anderson Let’s say the quiet part out loud: providers and aggregators just aren’t friends.  In theory, the relationship between aggregator and provider is mutually beneficial, funneling prospective families right to the doorstep of communities that have spaces to fill. It’s a common and attractive route to growth that’s been proven to work in countless industries. From travel to real estate to insurance, marketplaces for high-value, experiential products exist for a very simple reason: They make the discovery process easier for consumers. A recent Seniorly study revealed that almost …

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DevelopmentIndustry VoicesOperations

Opening a Community Takes More Than Meets the Eye

by Jeff Shaw

Make sure the operator and general contractor work together as residents move in. By Chad Suitonu You, as the owner/developer of a brand new senior living community, just finished the grueling construction effort. Now it’s time to hand the building over to your senior living operator and sit back and make some rent money.  But wait a second — your job as owner is not over yet. You’ll be involved with the project for months to come as the operator (specifically the executive director and facility manager) take over the …

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