342
this post was submitted on 22 Nov 2023
342 points (98.9% liked)
News
23320 readers
4269 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The people here never owned their homes. They purchased long-term agreements, and as those agreements expired, the owners moved to a different process.
The "negotiated buyout" is from people ending their leases early.
Okay - you lease a car that includes gasoline and all maintenance. The agreement is that you get to drive it until you die. You pay $80,000 up front for the car and $100/mo for the maintenance, which can increase per the lease. You go along for 4-5 years, and each year your maintenance increases, maybe to $130/mo today, because of the cost of gas and parts needed. You can leave at any time, but if you ever leave or die, you don't get to keep the car - it still technically belongs to the leaseholder. You forfeit the $80k.
Well, the company sold and the new owners can't find enough people with $80k lying around to buy in, so they decided they'll just change the model to include the cost o the car - and charge $650/mo for the service. You get a letter that at your next annual increase, the monthly fee is going to from $130 to $650 because they've changed what constitutes "maintenance" as part of their terms and conditions. You can either stay with the package and pay $650/mo or you can leave and have no money to go find a new car. Oh, and you have no job and are on a fixed income because you're 75 years old.
This was not their rental agreement.
A more apt comparison would be that I'm leasing a car, and after my lease expires, the next lease has higher rates.
This is the opposite of the situation the property owners are in.
It would save you a lot of pointless stress if you read the articles you respond to.
CCRC buy-ins/contracts are for life. I used to design the buildings for them, I still do design work on existing facilities. I've also gone over a contract with my own parents. You essentially pay full price for a residential "unit" and as you require more care you are moved, without additional cost, into a higher care location. The owners than re-"sell" your previous unit to the next resident. When you die, there is no equity that your heirs will receive - in that way it's like a lease. The contract is for life with an annual escalation for maintenance and service.
These contracts aren't for life, per the article.