Saturday, September 13, 2008
Media covers high-end senior housing
The press tends to cover senior apartments from the viewpoint of high income retirees, with emphasis on the so-called “snob communities,” if the September 13, 2008 Washington Post Real Estate section (F) sets an example. The lead story is by Ann Cameron Siegal, “Restrictions on Age: Not on Options: Retirement Communities Come in Many Forms,” link here. The article does cover the three major kinds of facilities: (1) active adult (implying home ownership) (2) independent living (incorporating rental) (3) continuing care or life care, with access to assisted living and specialized care should the needs arise.
The article emphasizes high-end markets, with substantial (sometimes refundable) entrance fees and maintenance fees in ownership environments, or higher rents. Sometimes there are limits on guests and on how long they stay,
Another trend for rental assisted living communities is to rent rooms to visiting seniors (relatives of residents) but to require visitors to bring medical statements, living wills and powers of attorneys with them to used in case they have their own emergencies.
An entry on this blog Aug. 23 2008 covered the range of prices for senior apartments available, with links for listings and for HUD rules.