We recognize that we have a lot of seniors that have been in these units for, as the Member has said, decades and almost since some of the units were built in the ‘70s. There’s always an opportunity there to discuss with the seniors the option of purchasing the unit. We look at the value as it pertains to the community that they’re in and we work out something with them.
But we also have to recognize that it’s quite a jump to go from paying, well, zero in some cases, now $70 to $80 depending on where you live, to having to maintain the unit on your own.
It costs us an average of $16,000 a year to maintain a unit, and that includes a seniors unit. It can go as high as $24,000 in some cases. We have to be sure that we do our homework with them and not set them up for potential failure, as much as we would like them to be homeowners. We’ve also taken the initiative in some cases where seniors have been living in the houses for years, they’ve moved out, so they’re kind of over-housed with a three-bedroom house and just the senior, but we recognize the sentimental value that the unit has to the senior so we do keep them in there for as long as we can.