Woman using laptop with rising line graph on the screen in a new home
(Credit: Westend61 / Getty Images)

Residents moving into senior living communities are coming with greater needs, according to the latest Executive Survey Insights from the National Investment Center for Senior Housing & Care.

According to responses to the Wave 46 survey, 65% of assisted living operators reported that residents are moving in with greater needs. The percentages are high in other segments, too: in memory care, 53% of operators reported that residents are moving in with greater needs; in independent living, it’s 48%; and in skilled nursing, it’s 50%.

NIC Senior Principal Ryan Brooks said in a blog post that those numbers are driven by delayed move-ins during the pandemic, during which time existing chronic conditions were exacerbated. New residents, he said, now are presenting with more comorbidities or greater need of assistance with activities of daily living.

The Wave 46 survey reflects operator experiences in September and the first half of October.

Also in the survey, the rate of independent living operators reporting an increase in the pace of move-ins rebounded to 43%, compared with 29% in Wave 45. Meanwhile, numbers held steady for assisted living properties (43%), memory care (46%) and nursing care (28%). 

Operators across all service and care segments reported no change in the pace of move-outs — 76% of independent living operators, 67% of assisted living, and 76% each of memory care and nursing home operators reported no change in move-outs. 

Operators dropping rent concessions

Fewer operators said they are offering rent concessions now compared with earlier this year. According to the survey results, 41% of operators reported offering rent concessions, down from 46% in Wave 41 and 47% in Wave 37. Of those offering concessions, the most common form is free rent for a period of time (37%), rent discounts (24%), unit upgrades (18%) rent freezes (8%) and reduced entrance fees (8%). 

According to the survey, only 7% of operators are using rent concessions at all of their properties — down from 21% in Wave 41 and 17% in Wave 37. Among those offering concessions, 50% of operators reported that offering such concessions in up to 25% of their properties, up from 29% in Wave 41 and 20% in Wave 37.

Read more about property and professional liability insurance expenses according to Wave 46 in the McKnight’s Business Daily.