At Answers for Elders this week, we continue our conversations to open up the hood, peel back the curtain, and talk about what goes on behind the scenes at senior living communities. And we’re honored to have conversations today with two incredible C-level executives here at Chateau Retirement. Angel Averman, the Chief Financial Officer of Chateau Retirement, joins Suzanne Newman on the Answers for Elders Radio Show from Chateau Pacific in Lynnwood.
Suzanne points out, “You’ve seen the industry change, where management companies come in and everything keeps changing. It makes you guys so much different in the fact that you can keep that consistency.” Angel says, “We own the real estate. And we partner with our mortgage lenders and HUD, being a primary lender for us. And we were fortunate to refinance most of the portfolio 3% over a 30 year term. I know that we sat on a very stable foundation. And so the fact that the Godfrey family owns the bricks and mortar and the operations, it’s one phone call when we need to make a decision.”
Angel adds, “There’s two generations of family in the Chateau and the family members who have worked here in the past and the grandchildren that have worked here, that continues. And we can point to a half a dozen families employee families where it’s the mom and the dad, it’s the kids, it’s the grandkids. So that family element is there as well, or will have a resident come in and their grandchild is looking for a job. And and we say we’d love to have them. So it’s a community, and it’s not the physical building. It’s how it feels…
“We invest in years of service. So we celebrate that every year at the holiday party. And it’s $100 for every year of service. So if you think about 350 employees, and the benchmarks of three, five, 10, and every five years after that, the idea being that it’s not so much that we want you to stay because it reduces our cost now, but the way that we train, the way that we develop employees, we can’t get that traction [by] constantly turning people every six months.
“Most of our suggestions come from our employees. And Jim [Godfrey]’s famous for saying, ‘What’s the dumb thing that we should stop doing?’ And I thought, that’s an interesting way to ask that question. He’s truly interested – you’re the boots on the ground, what do you see that we don’t?”
Family-owned Chateau Retirement is Greater Seattle’s expert in senior living, with a legacy of success in its culture, tenure, and dedication of staff to its residents. This episode was recorded at Chateau Pacific in Lynnwood, Washington.
Chateau Retirement provides independent living, assisted living, and memory care services. They have been locally owned and family operated for more than 25 years. Chateau Retirement has three communities in Washington’s Seattle/Puget Sound area: Chateau Pacific in Lynnwood, Bothell Landing in Bothell, and Chateau Valley Center in Renton. Visit Chateau at https://www.chateauretirement.com or call 800.960.1944.
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