these sorts of places and I always wonder, didn't the original residents put in safeguards to prevent this sort of thing from happening? Surely, they can't be that dense or not think that unscrupulous investors would step in a heartbeat and stir up things for these seniors who had bought their places thinking that their purchases were a lifetime deal, something to be passed down in family wills or trusts to their children or heirs.

Just what does someone get, when they buy one of these places? Do they get an all in one package, the estate/apartment itself, the things included w/ the purchased apartments, such as ride share to doc's appts, to the grocery store and/or other shopping venues (well planned out, in advance, each and every week), regular appointments by doctors and/or nurses to such facilities on a per weekly basis or such, and other items that come in handy, such as swimming pools, spas, etc. Of course, such things are probably provided on a sliding scale, and you pick and choose what you want, perhaps on an annual basis.

What gets me too, is that so many bought into places that have such giant outstanding future bills (a new roof, other such giant expenses), and that these places didn't already have some sort of set aside, for these regular upgrades/updates needed on every place
that is out there, not just in Florida either, but everywhere.

in a court of law.

"We don't need no stinkin' legal documents!" We'll just rape you financially, and then demand that you say, "Thank you, sir."

Private equity is a malignant cancer that should be wiped off the face of the Earth forever. They took their business model from the Mafia.

... conflate capitalism with free enterprise. Tain't no such thang. Capitalism is the control and manipulation of capital – MONEY – and there's nothing free about it. Except for the capitalists' belief that their privilege extends to being "free" to take whatever the hell they want from you, and y'all got nothin' to say about it.

the property was sold.

By the way, there is nothing to pass on to kids as the parents are buying the right to live there, not the actual property. it's not like buying a condo... but still I assume they thought heirs would get 85% back.

they now realize it was a crappy deal because they would only have gotten 85% of purchase price... the property has increased in value

properties in a rising real estate market. Thanks for the heads up. I didn't know that the contract would be null and void when new owners showed up, no wonder that they are trying to get more than a majority stake in the units, over 50% to get control of the voting block.

Invested in a Cottage they put you on Medicare and move you to a smaller place.
I have investigated and compared. I can live cheaper in my house, hire my work done and be independent.

I heard all that but I want my independence.. my kids thought it would be nice, after a couple of health set backs. But think they now understand the Nursing home I did rehab in sold and their prices went up drastically. Beautiful place but my House is me.
Insurance companies are giving all kinds of benefits to keep you in your house.

I do my water aorobics, enjoy friendships and stay busy. Am much better now. My house work. If I can’t I hire it done. Still cheaper if you keep it up.
I feel ll for those people.

While she walks or is active..

No more than most people or companies think their various property or collective management groups, mortgage or loan holders, companies holding their benefit or insurance policies might be bought out by private equity groups.
Private property owners have been bought out, or their estates sold off, leaving renters or people dependent on services or contracts from the original owners vulnerable to vulture capital.
You can't do much about future debt, that's the risk you take when you decide to invest.

Article is at

https://www.nbcnews.com/news/us-news/vietnam-vet-found-dream-senior-living-community-new-owners-jacked-rent-rcna195175

A Vietnam vet found a dream senior living community. Then new owners jacked up the rent by 365%.
Residents of senior living facilities typically expect to live out their remaining years when they buy into a community. But a new dynamic in the industry is altering the deals these residents agreed to.
March 29, 2025, 5:00 AM CDT
By Gretchen Morgenson

When Martha Bray and her husband moved into River Glen of St. Charles, a senior living community west of Chicago, she figured it would be her last home. The couple loved the neighborhood’s tree-lined streets, tended lawns and tidy red-brick townhomes.

The Brays paid a $314,000 entry fee for their townhouse in 2013, plus a monthly maintenance fee. They didn’t own the property, but if they decided to leave, their contract promised they’d receive 85% of the current value determined by a local realtor.

A Vietnam veteran, Bray, 84, thrived at River Glen even after her husband died in 2016. But all that changed with a knock at Bray’s door in late June 2023. River Glen had been sold to a private equity firm and real estate investment group, she was told, and her financial contract was changing.

River Glen’s new owners, Jaybird Capital of Cedar Rapids, Iowa, and Citrine Investment Group of Chicago, were jacking up Bray’s monthly maintenance from $1,395 to $6,500, a 365% increase, Bray said. And if she didn’t like the deal and left the community, she would receive only 75% of the entry fee she’d paid more than a decade earlier.

“We had to agree to their conditions by Sept. 1 or move,” Bray recalled.

...

Legal if possible, personal if not.

Such are the risks of immoral finance.

I doubt there will be such a thing as 'assisted living' and/or 'nursing homes' outside of the wealthiest enclaves before too long. The rest don't have any reason to exist when they will all be owned by conglomerates that will be liquidating them the second they think they can get away with it.

kick em when they're down
Kick em when they're up
Kick em all around
Don Henley

Billionaires making the rules for themselves and thinking they're clever as usual.

I'd sue the person/company I'd written my original contract with for my portion of the realized profits. They are the ones that failed to honor their contract with me. Both the contract signer and the company. Make them feel the heat.

. . . when we sold our house last month, we put the money into CDs along with our other cash in CDs and index funds and moved into an apartment with an 18-month lease. Friends an acquaintances have lived in this place for years with no complaints -- owned by local group of hometown people.

Meanwhile, friend of ours bought into a senior living place three years ago. He coughed up $350,000 to move in an is paying $7200 per month. The place just sold to a private equity company and no one knows what's coming next.

I know of older people that want to just write a check and make the decision-making go away.

They may not understand how $x,000/month will decrease their assets over just a short period.

And these industries prey on people like us.

No matter how great the lease contract or license may sound, there's always a clause that says the current owners can sell the facility or service and that, even if the original owner had promised not to change the rules, the new owner can.

We are helpless against depredation unless and until we ourselves own our necessary facilities and services via either our elected government (which is at least theoretically answerable to us) or via co-op -like forms. (Corollary: we should not allow private ownership of our basic utilities, health care, and other necessities.)

A few million here, a few there. Lobbyists as messengers. Deniability.

With so much wealth in so few hands it won't take long to see a corporate banner and renaming of the US Capitol.

I have yet to see anything that they offer that's good for the world overall. They are parasites.

into it. I'd say a 95% to 99% tax rate on any PE profits, distributions to stockholders, bonuses to executives, etc., would be about right.

who have feverishly amassed wealth and temporal power to SCREW the rest of us.

Oh, these poor widdle billionaires! They just want a little more, just a little more! They want a nice tax cut!

You know what I want? A wealth tax. Medicare for all Americans.

But that's a pipe dream. The way things are shaping up we may not even survive as a nation.

Maintenance fees, not owning the land but leasing it, contract nullification. Just a bad deal all around. Add in the gossip and Amazon deliver thefts and it must be an nightmare.

Like what I saw every morning in Rehab. I knew I was leaving in 3 weeks, many of them were ot, but the ones who were gave me a count of the days left.

is back with a vengeance.

Corporate greed has metastaticized. Massive tumors spread everywhere.