Trends in the Senior Housing Market in 2020

Jeffrey Michael is the COO of the Horizon Realty Group, where he seeks out new acquisition opportunities and oversees management and operational processes. An experienced real estate finance professional, Jeffrey Michael has been with Horizon Realty Group since 2001. The group recently acquired its first senior living community in Chicago.

Senior living is a fast-growing segment of the real estate market, as the independent living market flounders. Investors and operators are increasingly questioning the financial sense of independent living communities that have higher operational costs than active adult facilities.

Food delivery services, such as DoorDash, are intensely disrupting the value proposition of senior living culinary support, as more seniors are starting to appreciate the convenience of ordering meals via mobile phones. In 2020, most operators of senior living centers will likely look to trim costs in their in-house dining facilities and supplement dining choices through food delivery services.

On the other hand, an oversupplied market is preventing many seniors from selling their homes. Many people are reluctant to move to a senior living community before they liquidate their current home, which is stifling demand.

Applying for an Apartment with Horizon Realty

Apartment key
Photo by Sylvie Tittel on Unsplash

The COO of Horizon Realty Group in Chicago, Jeffrey Michael is an experienced real estate investor and property manager. At Horizon Realty Group, Jeffrey Michael oversees the acquisition of new properties and the implementation of operational processes.

If you are looking to rent an apartment and are interested in one of Horizon Realty’s properties, simply get in touch with the company by calling its main office at 773-529-7200. The company has properties across Chicago. A representative will put you through to a local property manager in your preferred area.

The real estate company uses the property management platform RentCafe to cater to residents’ needs, including applying for an apartment. Create an account with RentCafe, then submit an application through it to Horizon Realty’s leasing department. Applications must be accompanied by a copy of your government ID, two recent pay stubs, and a filled landlord verification form. You should also pay the relevant application fees.

Once your application is received, the company’s leasing department will evaluate it. To be approved, tenants must have verifiable income that is at least three times an apartment’s rent. Applicants with bad credit may still be eligible for an apartment if they have a qualified guarantor or co-signer.