Hi - I'm evaluating a 200+ unit senior living facility that has an assisted living component covering 25% of the units. On standard market rate properties I typically figure that you need 1 full-time manager, and 1 maintenance person for every 100 units. Could anyone tell me how much staffing they typically figure for assisted living properties? This is the first assisted living facility I have evaluated, and I'm trying to get a better sense of the standard operating expenses for this type of property. Also if anyone is familiar with any resources online that I should look into, please let me know.
Staffing requirements are going to vary by state. What type of care is provided in the other 75%?
Who will be your operator? It doesn't sound like you have experience managing this type of property.
Ronald - The other 75% is independent living. The property is located in Florida. Modeling in-place management fee of 4%.
@Michael Burke -- Assisted living/Senior housing is fairly regulated in Florida - I'd check with the Florida Dept of Aging - or simply google a similar term - it will get you to the appropriate govt website to read some of their regulations - Independent living shouldnt have much going on with it - your Assisted will -
Thank you Shane! I was able to find some good information on the regulations. I see that you own an assisted living facility in Kansas. Just curious, about how much do you pay per unit for property and liability insurance? The historical financials for the property I'm looking at show an average annual expense of $1,250/unit. I know you're in a very different market, but I was just wondering in general how the insurance expense compares to your traditional multi family insurance expense.
There's a lot of Assisted Living to choose here in the United States. Like me... i choose arkansas assisted living. I believe that the Assisted Living is the one who can provide a 100% care for elderly loved ones.
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