Seniors Housing Special Report
Framework in Place for Seniors Housing Sector to Combat COVID-19 Contagion; Additional Aid From CARES Act to Maintain Operations Through Challenging Time
Pandemic dramatically shifts operations. As the COVID-19 pandemic rapidly evolves and substantially impacts markets and the economy, the seniors housing sector has come under pressure, facing steep challenges. The industry may be one of the hardest hit as elderly populations are some of the most vulnerable to COVID-19, creating concerns that operations might be affected and occupancy could decline. Historically, operators are well suited to manage infectious diseases, though, and have procedures in place that are being enhanced to match the current pandemic. Staffing and supply shortages are a significant hurdle, however, leading some operators to offer pay raises, provide childcare services and adopt new sick leave policies. Some are also tapping into the recently laid-off workforce to fill positions.