Retirement News : Seniors : Keep tabs on senior housing

Keep tabs on senior housing

Date Added: 13-09-2005

Retirement homes incur big expenses.  It's important for facilities to keep their payments up-to-date, and for incoming residents to check out their financial stabilities.  Read an excerpt below.

Cherry Hill Courier Post - Cherry Hill,NJ,USA

Monday, September 12, 2005

The surprise closing -- to the elderly residents and their families -- of The Crossing at Riverside independent-living facility offers a cautionary tale for those living in and seeking senior housing.

As the Crossing residents unfortunately learned, checking out a facility before moving is a good idea -- but it isn't enough. Residents must continue to look for signs that the facility is being well managed.

At the Crossing, there were signs that the facility was struggling. Only 20 of the 50 units were occupied. The facility's owner, Eli Dressler, owed the township $175,000 in back taxes -- a fact that would have been listed in public records.

Read the entire article:

http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20050912/OPINION/509120304/1046