HOW TO NEGOTIATE WITH ASSISTED LIVING FACILTIES
Senior Housing Solutions
Sep 27, 2024
Florida - Southwest
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The price isn’t always the price at a senior living community. Use these tips to help you get the best price.
1). Time is a leverage. If you are able to move sooner, rather than later, you might have some room to negotiate. Senior Living communities are businesses, and a vacant apartment is a non-revenue producing asset. A quick move-in is a good thing for a community. Conversely, if you are unsure of when you are able to move and/or planning for the future, you should not try to negotiate and wait until you are ready to make a decision.
2). Well-established communities may not have a need to negotiate, especially communities with long wait lists. You can always ask, however don’t be disappointed if you are told “no.”
3). Many things are negotiable, this includes rate locks, monthly fees, apartment upgrades, community fees, and even levels of care.
4). Usually, medical approval is non-negotiable. If someone is denied residency based on their health, it is highly rare that the community will negotiate acceptance.
5). Contractual terms are difficult to negotiate since any changes to the community’s residency agreement may involve corporate legal review.
6). Negotiations are a two-way street. Be prepared offer something on your end.
7). When negotiating, try to talk directly with the decision-maker.
8). Some communities have special incentives if you are able to move within a certain time frame. If you are in a position to make a decision, you should inquire about any current promotions.
9). Do not have a “take or leave it” attitude. The decision to move to this community is bigger than the incentive you are requesting.
10). Seek the advice of a professional. We have years of experience in this business and have relationships with most of the communities in our area and can help you get the best price possible. Contact us at www.seniorhousingsolutions.net to learn more.
- To view the original version of this article visit seniorhousingsolutions.net/how-to-negotiate-with-an-assisted-living-facility/
- Seniors Blue Book was not involved in the creation of this content.
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