It is no secret that running an assisted living facility requires significant financial resources, from personnel and operational costs to proper equipment and facilities maintenance. In addition, having a knowledgeable and experienced assisted living management company on hand to help manage the daytoday running of the facility can be vital. But how much does an assisted living management company cost?

The cost of an assisted living management company will vary greatly depending on the size of the facility, the particular services they are providing, and the amount of expertise they bring to the job. Generally speaking, however, most management companies charge their clients a percentage of the facilitys total operational costs, typically ranging between five and seven percent. This percentage fee covers a range of services, from accounting and budgeting to fire safety and risk management. In some cases, they may also provide services such as marketing and occupancy services to boost the number of residents in the facility.

In addition to the percentage fee, some management companies may also charge additional hourly rates for their services. These rates often depend on the level of expertise and seniority of their staff. Depending on the contract, these fees could range between $50 and $100 per hour. Not all assisted living management companies will charge the same rates, so it is important for facility owners to shop around and find the company that offers them the best rates for the services they need. It is also advisable to ask the firm for references and reach out to some of the facility owners they have worked with in the past, to get an idea of the quality of their services and their commitment to their clients. 

In general, an assisted living management company can be a great resource to have on hand and help to boost profits and lower operational costs. By understanding the various fees, facility owners can determine exactly how much it will cost them to hire a company and the services they can expect to receive.

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