Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Ben made some good points as well that these types of properties typical deal with higher maintenance rates and property management can be an issue.

Is anyone familiar with this type of rental property or have any insight of the senior housing market?

I might be overthinking things but how do I analyze a property that has multiple types of renters in the area?

Most property managers consider project management not included in their property management services.

Engaging with tenants to understand their needs and preferences can help in tailoring services and amenities, thus enhancing their satisfaction and loyalty.Key Takeaways:Implement tenant engagement programs to build community and loyalty.Regularly review and update lease agreements to reflect current market conditions and tenant expectations.Diversification of Investment PortfolioDiversification across different types of CRE, geographical areas, and tenant industries can mitigate risks associated with market fluctuations.

Our company also offers full service property management, rehab, etc so a true one-stop-shop for OOS investors.

Similar type properties ( 2BED, 1BA, that are updated/renovated are selling between  $420k -$525k. 

Just the type of feedback I was looking for!

Ask them what it would take to formally change the property type and make sure there aren't any current violations that you will be stuck with later.