More senior housing providers are turning to rent concessions to entice move-ins and boost occupancy rates as the coronavirus pandemic approaches its eighth month of disrupting the industry. And an overwhelming number of providers are relying on overtime pay, as well as agency labor, to fill staffing vacancies. These are two of the key findings […]
National Investment Center for Seniors Housing & Care
Covid-19 continues to adversely affect senior housing occupancy, which reached another record low in the third quarter of 2020, according to data released by the National Investment Center for Seniors Housing & Care (NIC). The average occupancy rate across NIC’s 31 primary markets fell to 82.1% – a 2.6 percentage point decline from the second […]
For much of the past 20 years, capital expenditure allocations in senior living have been largely trapped in amber. That has changed in recent years. Faced with aging buildings and competition from new communities and operators, CapEx spends have grown gradually since 2015, and even buildings delivered within the past decade are undergoing renovations, Green […]
Covid-19 is cementing senior living’s place on the health care continuum, as more owners, operators and health care providers join forces to keep residents safe from the virus while maintaining environments where they can thrive and achieve positive health outcomes. In one example of what the future might hold in terms of senior living providers […]
Although senior living occupancy rates are at historic lows as a result of Covid-19, the effect on a market-by-market basis is not uniform. As a result, operators with high occupancy rates are able to withstand continued disruption to operations better than providers struggling with occupancy woes, pre-pandemic. This was among the takeaways from a media […]
Senior housing operators and owners seeking financing at higher loan-to-value ratios are likely to find favorable terms with alternative lenders and finance companies, as banks remain disciplined with their underwriting during the coronavirus pandemic. And among care segments, lending spread differentials between majority assisted living and memory care communities, and skilled nursing facilities, are remarkably […]
Senior living can draw inspiration from other industries for ways to move forward during the coronavirus pandemic — with professional sports leagues among the organizations to keep an eye on. All of the major sports leagues in the United States are attempting to start or finish their seasons in the wake of the crisis, with […]
The coronavirus pandemic has been the “unexpected shock to the economies” that National Investment Center for Seniors Housing & Care Chief Economist Beth Burnham Mace feared would disrupt a boom market in January. The fate of the senior housing sector is to some extent tied to the residential real estate market; people often must sell […]
Despite encouraging signs that the senior housing industry is responding better to the coronavirus pandemic, the virus is not expected to go away anytime soon and will continue to reverberate across the industry for the foreseeable future. Operators will continue to be pressured by increased expenses; grapple with ensuring the safety of residents, employees and […]
With states across the country gradually lifting Covid-19 shelter-in-place restrictions, a majority of senior housing operators expect to resume move-ins within the next 30 days, and move-ins are accelerating at the best rate since the pandemic started. Moreover, the rapid occupancy declines that impacted the industry as the coronavirus pandemic spread across the country appear […]