This week on Sunbound Asks we had the pleasure of sitting down with Bennett Kim, CEO and founder of ZNest, a vertical SaaS marketplace built for the senior housing industry. We had an amazing time welcoming Bennett to the blog, covering a wide range of topics ranging from how Bennett got into the senior living industry in the first place, to how seniors and their loved ones can navigate the senior living industry to find their perfect senior living destination. To learn more about Bennett, his career in senior living, and ZNest, check out our interview below.

Q: How long have you been working in senior living?

A: I first got into senior living in 2001.

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Q: How’d you get into the senior living industry?

A: Back in the late 1990s, the private equity firm Apollo owned one of the largest private assisted living operators in the country called Summerville, but it wasn’t doing well. It was bleeding cash, and I joined Apollo in 2001 to be part of the turnaround team. We restructured the team at Summerville and had Granger Cobb run the company. Summerville was eventually sold to Emeritus, and Emeritus was sold to Brookdale.

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Q: What’s your favorite thing about working in senior living?

A: It’s a mission-driven industry. I came from a background of investing in all types of real estate ranging from office to hotels to apartments. Senior living is one of the asset classes where we really get to have an impact on families that are going through emotionally challenging times. As we all age, we hear more and more personal stories of people within our circles that are going through the frustrations of figuring out how to navigate this industry.

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Q: What’s your favorite memory from working in senior living?

A: In the beginning of my career, I had to do a ton of mystery shopping. The funny thing is Granger Cobb and my boss at the time, Richard Ackerman, were leading the mystery shopping visits, and since I’m Asian and they’re not, we ended up just telling the people giving us tours that I was the adopted younger brother.

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Q: What advice would you give a family that is looking for senior living?

A: If cost is an issue, consider looking at senior living options where you may not have a connection to the location. It could even be in a different state. Of course proximity is important for visiting the family member, but broaden your scope of options so you can weigh the pros and cons of affordable solutions that are farther away.

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Q: Do you have a favorite tip for how a family can talk to a senior parent about moving to senior living?

A: When you start touring communities for different options, it might be a good idea to bring your parent to check out an independent living community first. Even if you really need assisted living, older adults feel better about seeing communities with healthier and more active residents. It’s usually the first impression that either scares or appeals to older adults. Once the parent gets accustomed to the idea of moving, you can start having conversations about why assisted living may be more appropriate.  

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Q: What’s your favorite new trend in senior living?

A: I feel like the industry is finally starting to embrace technology. Whether it is for lead generation, caregiving, or even back-office operations, senior living operators seem to be opening up more to the idea of adopting new technologies… or even technologies that have been around for a while.  

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Q: What’s one thing you wish more people knew about senior living?

A: I wish older adults and their family members knew how expensive private pay senior living options are while they still have time to plan accordingly. People tend to get hit by the metaphorical bus in terms of costs and their options are limited when there isn’t enough time for planning. Helping people understand these costs at an earlier age may help them save, invest, and plan for the future. 

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Q: If you weren’t working in senior living, what else would you be doing?

A: Something else in technology. As a former real estate private equity investor and senior housing developer, it took me over 20 years to realize that tech is something that I enjoy more than real estate. I want to solve problems by coming up with ideas that scale. 

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Q: What senior living resources would you suggest for our readers?

A: Of course, I’m going to be suggesting ZNest! We are really taking the time to think about the needs of both family members who are searching for senior living options as well as the operators who need lower cost lead generation and tools that provide more efficiency.  

To learn more about how Sunbound can help make senior living more affordable for you or your loved one, send us an email at info@sunboundhomes.com or request more information on Sunbound. Sunbound is the best way to pay for senior living and is on a mission to make senior living affordable for everyone.