The COVID-19 pandemic has had a significant impact on every industry. Businesses worldwide have had to pivot and adjust their practices in response to the global outbreak of the novel coronavirus. Read on to learn more about how COVID-19 has stressed the senior living market.
A Unique Opportunity for Investors
The pandemic’s economic fallout has been felt across the nation, with many businesses forced to close due to lost profits. In the senior living market, this presents a unique opportunity for investors. Properties that are in distress may be repositioned, opening the door for new investors to make a move.
Why Invest in Senior Living?
It’s no secret that Americans are aging. In the next 20 years, an estimated six million people will require some form of senior housing, creating an abundance of investment opportunities. The return on investment within the senior living market is statistically very high, with ROIs consistently staying around 13%. Senior living housing offers an incredible opportunity that investors would be wise to take advantage of, especially while properties are available at a reduced rate.
The Need for Senior Living Communities
Baby boomers—and even Millennials—are aging. Seniors are expected to make up roughly 20% of the population by 2029, creating a significant need for additional senior living properties. New trends in senior living, such as a focus on activities and amenities, make senior housing more appealing to families. Residents are treated to an enriched living experience, while family members are relieved of the pressure to become caregivers.
Florida’s desirable climate, low taxes, and lifestyle attractions make it a popular choice for retiring seniors. Investors would be wise to keep an eye out for available properties!
At Innovation Senior Living, we partner directly with investors to offer premier senior living property management services. Our communities include independent, assisted living, adult day care, and memory care facilities located throughout Florida. If you’ve recently invested in a new senior living property, give us a call at 1-800-425-9914 or visit our website to learn more about how we can work together to maximize your investment and improve the quality of care for your residents.