Re: Sr Cohousing Hits Mainstream Investing: Motley Fool
From: Lynne MARKELL (lmarkellrogers.com)
Date: Thu, 19 Mar 2020 15:51:58 -0700 (PDT)
Certainly "somebody" needs to talk to this writer. This seems to be the role of 
Either the National org or a Regional org where the article appeared.

It is good that developers are being encouraged to build a cohousing building 
BUT it should be done in consultation with residents who will move in. 
The developer can put up the money to build a building, but it will not be 
cohousing unless there is a "community". The developer has the upper hand and 
does not have to include the residents in the management and there will be no 
bylaws.

However to make it work and therefore profitable, the company that owns the 
building needs to recognize that it needs to allow for some consultation and 
input. The company could set up an advisory committee or residents council 
before and after the construction. If he does so there will be less cost for 
marketing and the tenants/ residents will be happier and stay longer, reducing 
turnover.
The seniors who want rental cohousing could do a lease arrangement for the 
whole building, through their own company or a housing co-operative.

I have found that lots of seniors want rental accommodation with cohousing but 
have no idea of the financing involved to make it happen and no idea of what 
the rents will be ( usually twice as much as living in a mortgage free home.)
To make this concept work the developer has to make some concessions and the 
seniors have to do some work to organize themselves.
This is a different scenario than the classic cohousing.



Lynne Markell, 
Lmarkell [at] rogers.com
(613) 842-5222



> On Mar 19, 2020, at 6:11 PM, Ann Zabaldo <zabaldo [at] earthlink.net> wrote:
> 
> Hello all —
> 
> Here’s an article on investing in Sr. Cohousing that appeared in a Motley 
> Fool newsletter.
> 
> https://www.fool.com/millionacres/real-estate-basics/real-estate-terms/senior-cohousing-the-next-senior-housing-investment/
> 
> On the one hand … YAY!  Invest in Sr. Cohousing!  Especially RENTAL 
> Cohousing!  FROM THE ARTICLE:  <Senior cohousing communities that are made up 
> of rentals will be more like owning a rental portfolio of single-family 
> homes. The cohousing rent model may become more popular as older people 
> consider housing options that will allow them to have more flexibility.>  
> YES!  PLEASE INVEST!  
> 
> On the other hand…Uh oh.  Somebody needs to talk to the writer before this 
> goes further.  He got some of the characteristics of cohousing kind of right. 
>  BUT he is writing about a standard investment model which may not fit the 
> nooks and crannies of cohousing.
> 
> For instance, I don’t understand this from the article:
> 
> Investing in senior cohousing requires a much different approach than most 
> other real estate investments. Cohousing communities are basically 
> neighborhoods that consist of like-minded people, so the investment strategy 
> would be similar to developing a subdivision. < Other elder cohousing 
> communities are a group of single-family rental properties.>  I KNOW OF ONE 
> SR. COHOUSING RENTAL COMMUNITY IN AZ OR NM.  ARE THERE OTHERS?  WE CERTAINLY 
> NEED RENTAL COHOUSING BOTH INTERGENERATIONAL AND SR. COHOUSING.
> 
> The writer doesn’t address the deeper aspects of collaborative development — 
> especially the future residents having a say in the design and development of 
> the community.  And having a say in many more aspects such as the Bylaws.  
> Many more aspects …
> 
> What do you think of this article?
> 
> Best --
> 
> Ann Zabaldo
> Takoma Village Cohousing
> Washington, DC
> Member, Board of Directors
> Mid Atlantic Cohousing
> Principal, Cohousing Collaborative, LLC
> Falls Church, VA
> 202.546.4654
> 
> I was going to make a joke about sodium and hydrogen, but NaH..
> 
> 
> _________________________________________________________________
> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
> http://L.cohousing.org/info
> 
> 
> 

Results generated by Tiger Technologies Web hosting using MHonArc.