What is Supported Living Accommodation?
Supported living accommodation refers to housing for individuals who require some level of support with daily living tasks, such as personal care, meal preparation, and medication management.
This type of housing is designed to help individuals with disabilities, mental health conditions, or other challenges to live as independently as possible while receiving the necessary support they need, with supported living accommodation located across the UK.
Supported living accommodation can take many forms, including:
- Group homes: Small, shared houses where individuals live together with support staff on-site.
- Independent living apartments: Individual apartments with on-call support staff available.
- Shared living arrangements: Individuals live with one or more roommates in a shared living space, with support staff available to provide assistance as needed.
- Assisted living facilities: Facilities that provide housing and personal care services for individuals who are unable to live independently.
The support provided in supported living accommodation can vary depending on the individual’s needs and can be arranged on a flexible basis, such as daily, weekly or on-call basis.
The goal of supported living is to help individuals achieve the highest level of independence and self-determination possible, while ensuring their health, safety and well-being.
Why invest in supported living
Investing in supported living accommodation can have several potential benefits, such as;
- High demand: The population is ageing and the need for specialised housing for older adults and people with disabilities is increasing, which can lead to a strong demand for supported living accommodation.
- Relatively stable income: Supported living accommodation can provide a relatively stable income stream through rental yields and can be less affected by economic downturns.
- Government support: Many governments provide funding and tax incentives for supported living accommodation, which can make it more attractive for investors.
- Positive social impact: Investing in supported living accommodation can have a positive social impact, as it can help individuals with disabilities and other challenges to live independently and improve their quality of life.
It is important to note that investing in supported living accommodation is heavily regulated and governed by laws, and it’s important to be aware of them before making a decision.
For more about HMO investing, you can get in touch with our experienced team on 01743 612 018 or email us at info@thepropertyadvantage.co.uk.
