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Apricus Senior Living Consultant | Senior Living CommunitiesApricusApricus
386-256-2015
madisongreystreet@icloud.com
Daytona Beach Shores, FL 32118
Apricus Senior Living Consultant | Senior Living CommunitiesApricusApricus

Should You Let Someone Else Manage Your Senior Living Housing?

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A well-established senior housing facility can yield substantial profits and stay in business in the foreseeable future. However, the success of your senior housing facility lies in its management. In textbooks, management has always been defined as “caretakers” of the owner’s wealth. The ultimate goal of management is to increase your health by prioritizing company goals.

But given that senior living is a niche business, should you let someone manage your facility, or is this something you should only do yourself? The best way to answer this question is to understand how senior living facility management works. This way, you can make an informed decision based on facts. 

Senior Living Housing Management 

Like any corporate setting, senior living facility management is managed under the terms of a legally binding contract. 

A management contract is an agreement between two parties wherein one party lets another handle the management of a particular business venture. In other words, you are entrusting your company’s management to a third party. However, the management company (the one who will manage) is bound by the contract regarding the scope of its authority.

As an owner, where does that leave you? You’re still the owner, and you still have the final say on important matters like expansion plans, amenities upgrades, add-on specialty services, and so on. You can also participate in daily management as long as you’re not overriding the management company’s responsibilities.

Senior Living Housing Management | Apricus Senior Living

Benefits of Letting Someone Manage Your Senior Housing Facility

Letting a third party manage your senior housing facility offers several advantages that’ll help you and the business become more efficient in the long run. Let’s explore some of the benefits of getting into management contracts.

More Effective Management

Companies who offer management services equip themselves with the necessary industry know-how and skills to effectively manage their clients’ businesses. Having a management company take care of your senior housing facility is more like a hack. Instead of building your organizational chart, you can hire a third-party management company complete with all the staff and personnel your business needs.

Moreover, hiring them would mean that they’ll be using their experience in the senior care industry that you wouldn’t easily find if you conduct mass hiring for management positions.

Lesser Involvement in Day-to-Day Tasks

By assuming the manager-owner position, you’ll have to devote all your time to your business. You’ll be in charge of day-to-day decision-making, signing and approval of paperwork, personal inspection of your facility, and many more. If you’re okay with that, then don’t hire a management company by all means. 

However, if you prefer your business to be a profit-generating venture, it’s best to let a management company handle the management functions for you. Perhaps, you’ll visit your facility every once in a while or meet with your managers for updates. 

More Time to Look for Better Business Opportunities

As an owner, you have the ultimate role in looking for better business opportunities related to senior care. It means that you’ll be going out looking for new clients, partnerships, or ideas. You can’t do that if you’re tied up with your manager-owner roles. How can you look for opportunities? For example, you can partner with insurance providers or healthcare professionals to attract more clients. As long as it adds value to your offerings, seize it and let it grow with your business.

More Time to Look for Better Business Opportunities | Apricus Senior Living

Making a Decision

We don’t want to tell you to let someone manage your business. Instead, we’ve just provided you with pieces of information to help you decide. Getting a management company is a tough decision to make. It’s like letting a stranger get into your house. But setting that aside, always think the best for your company. As soon as you decide to pursue this, Apricus’ doors are wide open to welcome you in this next step.

Apricus is a consultancy and management company specializing in senior living. We have helped many facilities and communities improve their services and get ahead of their competitors. Give us a call at 386-256-2015, and let’s talk about your company’s future management.

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