An article from a couple of days ago. We’ve commented several times about these high profit property renting businesses, and while some are run ethically, we know from our own observations that there are also some managed by amoral and unscrupulous types.
We’ve all seen the pictures of the carefree silver haired couple enjoying a resort-like lifestyle in a ‘lifestyle village for the active retiree’ but as Diana Clement writes, residents are finding that is not the reality.
The Poynton, like hundreds of retirement villages across New Zealand, makes money by selling licences to occupy independent living units, to retired people. For $670,000 to over $1 million, The Poynton residents get to live in “pure luxury”, “the pinnacle of retirement living”, “unrivalled comfort, security and peace of mind so you can truly enjoy life”.
But lift the lid and the picture starts to look different.