At our recent networking event, experts in developing and managing supported living properties shared invaluable insights. Here are some of the key takeaways:
Understanding What Great Supported Living Homes Look Like
The speakers emphasised the importance of having starting with a deep understanding of what constitutes an excellent home for individuals with learning disabilities, autism, mental health conditions, and other specialised needs. Designing properties with this resident-centric perspective is crucial.
Nurture Strong Relationships
Successful supported living projects require collaboration between commissioners, developers, registered providers, and care providers. Building and maintaining positive working relationships between these parties lays the groundwork for creating optimal living environments.
Conduct Thorough Due Diligence
When vetting registered providers, leases, and deal structures, leave no stone unturned. Pay close attention to even seemingly small details that could derail a project and result in lost investments. Working backwards and forwards with all stakeholders, underwriters is essential.
Have Multiple Exit Strategies
As one speaker emphatically stated - the events of 2020 highlighted how important it is to have multiple exit plans for any property scheme you pursue. Do not put all your eggs in one basket.
The Allure of Social Housing
While more complex than general social housing, the demand for supported living is rapidly growing. Social housing properties offer attractive simplicity with typically fewer hoops to jump through, quicker move-in times, and improved financial viability with rising rental rates.
By taking advantage of these insider perspectives shared at our networking events, property investors, and developers and care providers can navigate the supported living sector with greater confidence and expertise. Don't miss out on upcoming events!
Listen to property and care professionals share their expertise and knowledge of working in the Supported Living sector and build new relationships by networking with like-minded individuals
Networking for Property Investers Networking for Care Providers
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