It’s a feat to bring a new senior living development on the market…and ensure it produces a return on investment dollars.
For a successful grand opening, you pour your time, energy, and resources into creating a superb community. From landscaping your grounds to furnishing your apartments, you invest in assets that close leases.
But if you neglect a critical part of the development process, your worst nightmare may come true as it does too often with new developments…
Your beautiful building has more apartments empty than filled.
Believe us. At Bild & Company, we’ve seen it happen over and over again, which is why we’re sharing how your senior living development can steer clear of this disaster.
Keep on reading for our tips on avoiding a slow lease-up…
#1 Invest in a Growth Infrastructure for Your Senior Living Development
As a savvy investor, you understand there are investments that empower your senior living development to generate ROI.
That’s why you’ve selected quality construction materials, cutting-edge technology, and a strategic management company.
But if you want to ensure top-line revenue, you’ll need to invest in something just as critical—a revenue growth infrastructure.
To put it simply, a growth infrastructure involves…
- Strategies that establish a connection with prospects and match their needs with what your communities offer.
- Proven systems for turning leads into leaseholders.
- Key team members that drive top-line revenue.
Without a clearly defined plan for driving move-ins, your senior living development is in serious jeopardy for opening day.
#2 Establish Your Revenue Infrastructure…When It Matters Most
While it’s important to invest in a revenue growth infrastructure, it’s equally important to implement strategic systems when they matter most.
You’ll want to establish strategies that close leases long before your community’s grand opening. In fact, the best time to prepare for financial success is before the bulldozers ever hit your land.
Each day you procrastinate on establishing your infrastructure creates extra pressure as your opening day draws closer, and this can create errors such as…
- Hastily conducted and shallow competitive analyses of other senior living communities.
- Superficial marketing differentiators that don’t speak to your target audience.
- Hiring team members quickly…only to find they’re a poor fit for your community.
When it comes to filling beds in your new senior living development, timing is everything.
#3 Choose a Strategic Partner for Your Senior Living Development
To implement a system that drives leases, move-ins, and top-line revenue, you’ll need to select the right strategic partner for your community.
While your senior living management company is an excellent ally when it comes to overseeing your development, you’ll need to recognize its limitations.
More than likely, your management partner specializes in operations—not in formulating comprehensive systems to fill your apartments.
Your best bet is partnering with an organization with niche expertise in senior housing occupancy who can help you…
- Pinpoint what makes your community unique.
- Communicate your community’s value to the right people—long before your grand opening.
- Implement and monitor each piece of your growth infrastructure from beginning to end.
If you’re looking for a strategic partner to help your community meet revenue goals, rely on the expertise of Bild & Company.
At Bild & Company, we’ve used our proprietary systems to empower other senior housing developments to fill empty apartments with residents and achieve top-line revenue growth.
To get a quick look at what we’ll accomplish for your senior living development, download our Blue Sky Roadmap information kit.
Our team is more than happy to discuss the goals you have for your new development. To speak with us personally, contact us online, or call us at 1-800-640-0688 and ask for Liz Simpson.
Together, we’ll establish the comprehensive plan you need to net up and grow.
