Senior Housing and Assisted Living Asset Management
Haven Senior Living has identified a vacuum within the senior living industry. This vacuum is caused by a lack of experienced operators with a mission to advocate on behalf of owners.
Haven Senior Living fills this vacuum with its unique alternative asset management services, acting in the capacity of the owner’s advocate. We can provide objective and experienced analysis of contracted management services, conducting research and analysis of individual or multiple communities’ marketing and operational performance with a focus on the impact and effectiveness of contracted management services.
Should an owner decide to engage or replace an existing management company, Haven Senior Living can assist owners throughout the process by vetting alternatives, recommending optimal candidates, and overseeing the transition.
An initial review of the existing contract for management services will be conducted. Review and analysis of community financial performance and comparison to industry norms.
HSL will conduct onsite and in-person interviews with community Executive Directors and other key staff to solicit candid insights and opinions of current performance and factors as well as the community’s relationship and perceptions of the management company (Satisfaction Survey) and effectiveness of same. HSL will conduct either in-person or phone interviews with the management company’s support (regional) staff assigned to the community. Combining all research and information, HSL will provide findings and recommendations specific to the contracted management company’s effectiveness and value being provided.
- Key Metrics which will be measured include:
- Key Provisions and Representations Contained in Contract
- Current Management Company’s Resources and Growth
- Current Financial and Operational Performance of Targeted Communities
- Positive/Negative influences
- Number of Fixed Regional Support Staff Assigned
- Frequency, Duration and Effectiveness of Community Visits by Regional Team
- Number of Communities assigned to Regional Staff
- Product Types and Sizes (spread)
- Geographic range of managed communities (travel time)
- Estimated percentage of Regional Time Afforded to Targeted Community
- Percentage of time spent traveling to communities (goes to efficiency)
- Staffing Ratios (# of communities serviced and # of Regional Operations, Clinical, Marketing, Culinary, etc.)
- Responsiveness and Availability of Management Company to Community
- Estimated Percentage of time spent attending training, company meetings, annual conference, etc.
- Ownership interest of management company in other contracted communities
HSL will provide findings and overall ratings for services being provided and the value being received by the owner. Additionally, objective recommendations will be provided to ownership related to potential negotiating points with the management company for use at its discretion.