Retirement flats

Radiantsoul

scaredlady wrote: »

I would suggest before going anywhere that has perverels as the management agency you read the thread about them....run away at a great rate of knots...fast..

I have read there are some negative comments on here, but I wonder if they are that bad or if it is just that they are a large company and even a relatively low rate of complaint leads to a high absolute level.

oldone_2

scaredlady wrote: »

I would suggest before going anywhere that has perverels as the management agency you read the thread about them....run away at a great rate of knots...fast..

Entirely agree. Perverals 'manage' a friends retirement home, and they are an absolute nightmare.Jobs not done, complaints ignored and draconian charges.

Friend says retirement apartments are great as long as Perverals are no where near it.

franklally

I have the breakdown of selling fees in front of me here - in fact it's nearer 3% to Peverals!

1% transfer fee
1% contingency fee
1.2%? Service charge

I think Peverals have run this retirement complex very well over the years - even though of course you are paying for it.
There are no water rates and very low insurance costs.

McCarthy and Stone are (or were) normally located within easy walking distance of a bank, post office and supermarket.

For the incredibly happy and secure eight years my parents in law had in their flat it was worth every penny.

BitterAndTwisted

There's an interesting thread on the Age Concern Forum which I seem unable to post a link to. I just Googled "mccarthy & stone" to find it

Radiantsoul

franklally wrote: »

For the incredibly happy and secure eight years my parents in law had in their flat it was worth every penny.

I think that is a good point, the fact is that I don't really want an inheritance, I want my mum to be happy and enjoy the money that her and my dad worked for. I rather like the idea they take quite a lot when the property is sold if that means less is taken during her life.

clutton_2

""I rather like the idea they take quite a lot when the property is sold if that means less is taken during her life. ""

i suspect they take a lot during her life £3k p.a. ??? AND a lot when she is gone.... tails you lose heads they win......

Management charges of this size will bring a huge income to McCarthy and they rely on their tenant base not making a fuss about it... i bet tenants have difficulty getting to see their managment accounts.......

Radiantsoul

I am concerned about the charges incurred during her lifetime and how that is accounted for. I guess the financial side is quite centralised and the looking after the residents part depends more on how good the warden is.

clutton_2

if you multiply the monthly charges by the number of flats in each develoment... McCarthys are getting HUGE income for "management" charges... and in addition they are asking for contingency money as well... ... mmmmm... In a new block.. the Contingency fund need not necessarily be very big... unless they have built a pup..... y ou would expect higher contingency payments in older properties where rooves need replacing and exteriors repointing.. but these are new properties... It would be interesting to see if the contingency % is reduced once a decent size fighting fund has been amassed

i'm not holding my breath



Tenants can form their own management company - but McCarthys and their ilk rely on older tenants not wanting to bother "making a fuss"

shellstar

My grandparents moved into a scheme like this and it was wonderful for the first few years while they were still relatively mobile. It's no good at all though if you are thinking of this as anything but a social outlet.

The maintenance fees have been wracked up each year and they don't get any help to maintain their own property, which is a real issue for them now. Grandad has now had to go into a care home and the maintenance company were really very unhelpful. They wouldn't even let my gran wash her sheets outside of her alloted times when my grandad became incontinent.

They only work if you can budget a lot for the rising maintenance and if you remain fit and healthy. If you don't, the only care they give is to respond to call the ambulance if you fall. After this, they'll just ship you out.

Just something to consider - it isnt full peace of mind for the family, you still may need to sell up and investigate care homes in the future unless your mother never needs any care at all (which is less likely these days, with people living longer and their bodies giving up before they do).

I'd give it serious thought before rushing in and consider the future beyond the managed housing. My grandparents really wish they'd just bought a bungalow near their friends.

redlady_1

I have heard of these and there was a programme which focused on the management charges and the help. It was basically saying if you want help between 9-5pm you are ok and that charges are increased significantly whilst getting nothing extra? Wasn't there also a bloke who called the residents whining old geriatrics or something and then ended up making a full apology on BBC news? Personally, I would avoid these like the plague.