Supported Living is a term used to describe a living arrangement where someone has long term support needs. What is key is that the tenancy and care are separate, this separates Supported Living from a residential care home. A Registered Provider or Charity will take a long term lease on a property and then they let the property to the Supported Living tenant.
As a property investor you can let your property to a Supported Living provider on a lease, this means you have a long term tenant and you are creating a safe secure home for a vulnerable person. You do not need to worry about voids. Damages are usually covered and often the provider will arrange maintenance and repairs for you. You do not need to pay a letting agent to manage your property. This added up can mean your return on investment is often higher than if you let it on the open market, you end up with an almost “hands-free” investment property whilst creating a home for someone who really needs one.
Interested? You should be! If you are in property for a long term investment, then this is a great model to adopt. It has been a very well kept secret, held by large pension funds and investment funds. They see Supported Living as such a secure investment that they are still pumping millions and millions of pounds into developing in this sector.
Now at Supported Living Gateway we are making investing in Supported Living more accessible for the average Property Investor. Although there is still demand for big schemes (and we are working with many of these providers too) there is also an increasing demand for individual properties. The move away from institutional care has driven a demand for people who need support to live in the community, with their own front door. This means a whole variety of property is suitable, everything from a small bungalow, a one bed flat, or a 2 bed house. The kind of property you may already have in your portfolio? This puts the investment opportunity of Supported Living within the reach of all property investors.
If you have SSAS pension funds then you can now consider investing your pension pot in the same type of schemes the big pension funds are using. There is a reason the big funds are looking at Supported Living as a long investment and maybe you should too.
At our recent networking event, experts in developing and managing supported living properties shared invaluable insights.
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Investing in homes for children in care is unique and different from regular property investing. It is highly regulated, and you have to go through a lot of hoops, but it can also be very rewarding if done properly.
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Liverpool City Council is looking to the private rented sector (PRS) to alleviate the cost of temporary accommodation to support families facing homelessness which has risen by an incredible 10,000% in five years. This dramatic increase demonstrates that the demand for property, not just in Liverpool but across the UK, has reached a crisis point.
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When entering a supported living arrangement, just like any other business relationship, we strongly recommend that thorough due diligence is essential for both care providers assessing landlords and landlords assessing providers and any other third parties that may be involved such as Housing Associations.
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