Managing 55+ Communities for Today and Tomorrow
Preparing for the “Silver Tsunami”
According to Forbes magazine, a “Silver Tsunami” is on the horizon, with the 80+ population expected to grow by 5% annually by 2029. To capitalize on this trend, it is crucial for 55+ communities to prepare now by implementing strategic management practices. A full-service property management firm like Denali can assist condo associations and HOAs in creating and executing plans that enhance resident quality of life, attract new retirees, and offer an improved resident experience and long-term value growth.
Enhancing Lifestyle and Wellness Amenities
Today’s 55+ communities are placing greater emphasis on lifestyle and wellness opportunities, prioritizing social engagement and active living. To deliver on these priorities, property managers oversee the operation and maintenance of key amenities such as clubhouses, pools, fitness centers, walking trails, and event spaces. Denali’s staff is specially trained to manage these amenities, and the company offers technology solutions that allow residents to reserve spaces and manage amenities with ease. As an essential first step, Denali property managers conduct comprehensive community audits to review current amenities, assess usage patterns, inspect for maintenance needs, and identify potential opportunities and future use cases.
Leveraging Technology for Resident Engagement
Technology plays an increasingly important role in fostering resident engagement and convenience. An online resident portal is now standard for many communities, including those for individuals aged 55 and older. Denali provides such a portal, enabling residents to pay bills, submit maintenance requests, and access an online event and social calendar. Additionally, the portal houses important community documents, such as board meeting minutes, annual budgets, and financial statements—meeting the growing demand for clear and timely communication among residents.
Risk Mitigation and Value Protection
As the property management industry becomes more risk-averse, including within 55+ communities, Denali property managers employ a range of risk-mitigation strategies to enhance community stability. Tools like VendorShield are used to ensure that all vendors are fully insured and licensed, thereby reducing liability and exposure to scams. Regular on-site inspections and preventive maintenance strategies help anticipate and address potential risks before they escalate. The Denali team also brings expertise in creating annual budgets, managing reserve funds, and conducting expert insurance negotiations, often in consultation with legal partners. These comprehensive measures protect residents from unexpected costs and help preserve property value for the long term.