search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
Vi at Aventura SeaView Bar


1. The refresh The public-space refresh, typically the most common renova- tion in a senior living community, doesn’t strictly need to be a capex project. It’s possible, of course, to do the carpets one year, furniture the next. Most operators, though, say it makes sense to take a bigger bite. “Rather than dishing out small amounts every year to do


carpet on one floor, to do furniture somewhere else, our strat- egy is to do all that in one year in a given community. You get a bigger impact,” said Doug Lessard, COO at Belmont Village Senior Living. “If you have a program where you do that every five to six years, improving everything at one time, then it will last until the next time you do it. Otherwise you get a situation where things are piecemeal, they don’t match, and some area or some building inevitably gets left out.”


Depending on the age of the community, a number of


variables could trigger a refresh. A property typically won’t be in tatters before management pulls the trigger. Rather, finishes and furnishings may be a bit worn down, or may simply be out of date. “It’s a combination of factors,” said Smith, whose next capex effort will freshen up a circa-2005 California community. “It includes how long it has been since the last time it was remodeled, and whether styles and finish levels have changed since then.”


2. The urgent situation While most operators would prefer to schedule capex work in cycles, urgent situations sometimes arise that bring a property to the front of the queue.


SEPTEMBER/OCTOBER 2018 ARGENTUM.ORG 27


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64