a day in the life of a retirement home tenant
http://www.nzherald.co.nz/business/n...ectid=11934562
not a summerset village
Printable View
a day in the life of a retirement home tenant
http://www.nzherald.co.nz/business/n...ectid=11934562
not a summerset village
Well, this is an outstanding example why people should go with one of the larger retirement home providers instead rather than picking a private investor with his private agenda running the show.
Good retirement homes like SUM are trying to solve the problems of their residents instead of abusing them!
But maybe the owner just wants to find out whether the old saying "there is no such thing like bad publicity" is true? I guess I could imagine some people who I would want to live under such a landlord ... it's just not the people I like ;);
Not really representative of the industry, or of the attitude of those who occupy the vast bulk of the retirement home units though, is it?
No idea ... however this particular provider has quite a collection of retirement villages:
https://goldenhealthcare.co.nz/lady-wigram/
But to be fair - they promise on their webpage "central location" and "easy access", nobody talks about tranquility or respect for the rights of the tenants ...
So it is probably just another case of buyer beware ...
Back to SUM ... it is good to know that there are alternatives in Christchurch for people looking for a nice and friendly rest home place:
https://www.agedadvisor.nz/search/re...m-Christchurch
https://www.summerset.co.nz/wigram-c...t-out-village/
Interesting to note: The close by Summerset retirement village gets 5 stars on age advisor for "caring staff", while the village of the landlord in question got only 3 stars. Maybe it is not just the boss?
Mental note - check independant surveys before booking a rest home place ...
What is SUM's price to book again and debt ratios again? (particularly relative to others in the sector)
Some say those with the highest in these two departments could be in the firing line tomorrow/coming days and something tells me SUM is "leading the pack" in both (which is not a good thing for these ratios)
INA: NTA $2.50; SP $2.68; SP/NTA 1.07
MET: NTA $5.32; SP $5.88; SP/NTA 1.11
OCA: NTA $0.92; SP $1.04; SP/NTA 1.13
SUM: NTA $2.86; SP $5.08; SP/NTA 1.78
RYM: NTA $3.29; SP $9.58; SP/NTA 3.29
Hmm - according to your theory should Ryman take the brunt of the carnage, and they did lose some cents in the opening. You selling?
Obviously - short term the market might go wherever fear and greed is driving it. Long term I'd expect that fundamental values (including growth, consistency, asset quality, market size = future growth potential, service level and quality) will prevail.
I think ARV is about 1.2, crazy that OCA is now the cheapest at 1.06, after falling to its current 98 cents (market must be worried about immigration)
And yes, I would have thought RYM would have been hardest hit, followed by SUM - I suppose RYM's exposure to aussie is helping it.