The Daily Life of a Residential Assisted Living Owner

What is day to day life like owning an Assisted Living Home? 

Well, number one, no day is the same. The reality is what you’re looking for is the manager to take care of business, find the residents, take care of the family, hire the caregivers. The day to day life that you have in your assisted living business is going to depend on how you want to operate. Let me explain to you how I do it because I’m very hands-off in the way I operate. What I do is I find the manager, they are the ones that find, hires, trains and retains the caregivers. the managers are responsible for making phone calls, to bring in people who need the assisted living, do tours, bring them into the home, do the assessment of the residents day to day, and filling in the agreements. 

Do I need to do everything? 

All of that is done by the manager. Some days are more stressful than others, I like my days to go where things are running smoothly and your manager isn’t saying here’s problem ABC, but here are our blessings for today. Here’s who we’re helping today. And when those residents come in and drop off a check for five, $6,000 a month and 10 of them get dropped off on the same day, that’s a wonderful day. So the day to day life will depend on how you want to own and operate this home. We have students all over the country who were doing it hands off, but we have others that are more hands on. They’re in the business on a day to day basis or more hands-on and communication with the manager. I like to find good people who have great expertise, who want to take charge of their situation. My manager is a great example of that where they take charge and they run the operation. They’re handling things on a day to day basis, making sure it’s running smoothly. Some days are more stressful than others, but realistically the goal that we have at the RAL Academy, through the AL Network is to have more than one home. One home It’s like one kid, one kid hard, two kids easier. By the time you have three, it’s a system of the pattern. We call that a three pack. 

How much time can I realistically expect to spend doing this? 

The goal is to spend five, maybe 10 hours a week total tops. I don’t go see the homes every day, maybe once a month. I’m not there even talking to the manager every day, but I can skype, I can text, I can email and communicate as needed when needed. That includes everything that I do. That’s what the day to day looks like. 

You can do this anywhere! 

You can do this any way that works for you. I suggest doing it more hands-off, but that’s totally up to you as what you want to do. And remember, day to day varies from day to day. 

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