Assisted Living Communities “cutting deals” in the down economy

A recent AP article details that although assisted living is a “need driven” service that providers are are slashing costs, negotiating fees and offering more services, as operators adjust strategies to attract more residents in a tough economy.

The articles cites that the occupancy rate at the end of last year fell to just below 89 percent, down half of a percentage point from the end of 2008. And rents didn’t rise as much as they had in prior quarters, according to data from the National Investment Center for the Seniors Housing & Care Industry.

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