Our President wants us to have "assisted living"

Sounds like it might be a very complex situation, possibly mixing residential and business activities together, if I am understanding you correctly. There may be a whole lot of municipal code restrictioons that could apply? A consultation with an attorney may be wise before actually doing anything.

Paul T

A number of communities have been set up that offer "one stop shopping" for us "older" people. They usually have a "buy-in" fee up front and higher "rent", or whatever it is called in exchange for the ability to move from "independent living" to "assisted living" to "nursing care" to "hospice".

Yes, you do need a detailed analysis but I would not close my mind on the idea.

Could residents receive assistance in their current units? Then they don't have to move.

Would the HOA receive a fee for units converted for new "assisted" residents?

Does "Medicare" payments play into this?

How does "Obamacare" play into this?

Given the above, is it "premature" to do anything until the "smoke clears"...but the idea that current residents can receive assisted living service where there at is attractive....

Ed

Continuing Care senior living communities can be quite lucrative and can be very attractive to folks looking for that type of lifestyle. However, there are tons of rules and regulations. If you had a health & rehab center that was already on board, that might make it a little better.

If you are already a senior community, it would be a nice perk to your residents, but I'm not sure how you'd retrofit existing arrangements.

Don't rule it out, but don't dive in without doing the research either. Lots of folks out there just looking to make money on the elderly too.

I am no expert. But I am writing this from a large senior community so I have a little experience to share. You have a lot of research to do , as others have wisely mentioned. I think that a full-blown assisted living center sounds daunting. But there are some reasonable perks your community could arrange which would serve to increase your property values. I'm thinking of soft measures such as instigating volunteer phone calls to shut-ins, or maybe coordinated transportation or recreational activities. Things as simple as a neighborhood watch or key share arrangement to prevent accidental lock-outs; whatever you think might make folks feel more comfortable and cared for. Of course if you are a small association you won't have enough active volunteers and everything will fall to the few who are already committed to helping (sounds like you might be on top of that list.) And then again you might already have thought of these things.

While our development is huge, (and so are the assessments) with lots of money and many benefits, including a semi-assisted living section--some of the most popular and helpful programs are provided by our neighborhood volunteers for free. Owners in the areas with established, "welcome wagon"-type schemes report a happier neighborhood, and the local realtors know where those sections are, and recommend them. It may not mean a lot more money for our properties when they do sell, but they never remain on the market for long (as some others do) so we know we're doing something right.