What property types are needed for supported living?
The type of property required for supported living can vary massively, as there’s a huge range of people who may require supported living schemes. Take a look at this article to see what the main tenant groups are.
I speak to care and housing providers regularly and have requests for every type of property you can imagine. People have a preconception about the type of housing that's required, and tend to think about large HMOs and huge old nursing homes, but these buildings aren’t always the most in demand.
The reality is that the type of property needed is as individual as the person who's going to be living in it. We have providers looking for simple one bed flats, maybe for someone withlearning disabilities, but who only requires an hour or two of support each day.
There's an increasing move towards people having their own front door, this is a popular model where each tenant will have their own space and can live independently, with access to 24 hour care when they need it.
Because of this, blocks of flats are always in demand, particularly blocks of one bed flats. This is often popular with providers who're supporting people with long term mental health needs or learning disabilities. They are often looking for blocks for example of eight one bed flats, and they would use one of the flats for a staff hub, and the other seven flats would be let to tenants.
Bungalows are also always popular. A small bungalow works well for someone with more complex needs, who requires some privacy and space. Larger bungalows are also popular maybe for a group of young people with physical disabilities who want to live together but require an accessible adapted property.
HMOs are another desirable property type and are still wanted by lots of providers. Some providers are looking for HMOs with all en suite bathrooms, while others quite like the idea of having shared bathrooms, because they don't want people to become too insular. Often, as part of their support, they want to develop a community feel within the property and get people out of their rooms. Most providers are looking for HMO’s with larger communal spaces.
Property demand and needs vary by region, provider, and tenant type, so it can be very hard to generalise. This is why we always recommend more than one exit strategy to mitigate risk. Finding the right supported living tenant can be a complicated process but the benefits to investors make it very worthwhile.
Supported Living Gateway is a members only property portal and training company specialising in supported living property investment. Our Supported Living Strategy Course gives property investors all the information they need to get started. Our next intake starts on the 28th September, see more details and sign up here.