Working in property management marketing, I’m currently involved in the lease-up of a new senior property in Kansas City. The sheer volume of blanket statements like “seniors want…”, “seniors need…”, or “seniors can’t…” in the ad comments is truly staggering and, frankly, frustrating.
Our community is a tax credit property, income-restricted, and deemed affordable by KHRC. I disagree with the blanket assumption that “seniors can’t afford that.” It’s a misconception to believe that all seniors can’t afford the rental rates the owners are asking for (and KHRC has approved it as affordable).
Not all seniors have worked and accepted basic social security income at retirement. Some have invested, paid into 401Ks, owned homes, or saved money throughout their working lives. They have more than a basic social security income and want something a little more premium in their twilight years; this particular property targets this type of senior. There are plenty of income-based senior properties that cater to low-income seniors. If you believe the commenters, all seniors want property developers to create low-income communities without considering those who might want something better.
This is a very entitled attitude; Social Security was designed to supplement any retirement provisions seniors have amassed over their working years. If seniors want to be mad, be mad at the government for providing a Social Security income below the actual costs of living, for not building affordable communities for our aging population, or be angry at yourself for not making provisions for your retirement. It should not be up to private investors to build low-income housing; for them, it’s an investment, and even at the claimed prices, it’ll take a decade or more to see a profit. These properties don’t magically build themselves for free; they cost millions of dollars and time to build.
I like to use the analogy that no one complains that Ferrari sells their cars for $100,000+; where is the outrage that Ferrari doesn’t sell their cars for the same price as a Buick? It seems specific to housing, where property owners are allegedly ripping people off; the reality is very different. After costs, property owners make just a little money after property taxes, insurance, maintenance costs, management fees, any included utilities, and their mortgage payment. However, they should offer their rental units well below market value and wait a lifetime to make a profit so you can get your $250 rental rate, right?
Also, according to some people in the comments, seniors want a walk-in shower, a bathtub, or a garage, depending on who makes the statement. This shouldn’t irritate me so much, but it does. I dislike people making blanket statements as if they speak for everyone. Is it so hard to say, “I would like…”? Maybe the commenters think they are less entitled if they make it sound like everyone wants the same as them.