FYI They have branches in Central,Takapuna and Newmarket.
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2 things.
1. If this statement is accurate (and it looks like it is not entirely accurate) then RYM have virtually 100% occupancy without needing a large part of their potential customer base (The 65 to 70 year olds, or even younger). This would give me even more confidence in RYM's ability to maintain its growth.
2. In their annual reports, RYM do not recognise their unrealised profits. I cannot see any reason why RYM would want a faster turnover of tenants. For RYM, like any 'landlord', fast tenant turnover equals more hassle, higher un-occupancy, and an increased risk of getting a bad one.
I would suggest a very dark sheet and a scythe. :scared:
Haha.
As Sparky points out, you want them to 'move on' from the village once the deferred management fee is completely earned. If they go on to live another 20 years, then you earn no more deferred management fee.
Sure there is a hassle but on the basis you have a waiting list, and if you dont, it doesn't matter as you dont repay till you find someone, turnover isn't a major issue.
Thanks Sparks and CJ.
I'll refresh myself on the fee mechanisims... it has been a while.
20 years+ in a village... jeez.. how many pairs of incontinence knickers does that equate to??
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What type of accommodation does a retired Pope look for? What a PR coupe this would be for Ryman and NZ if something suitable was available? :) and Heartland Bank just around the corner for his banking convienience. ;)
Reap profits from retirement
Interesting article from Tim Hunter in todays Sunday Times
The profits come from the retirement village sector, the fortunes of which are closely related to the housing market. And with three retirement village companies now readily available on the listed market - Ryman Healthcare, Summerset and Metlifecare - analysts are having fun figuring out which is the best opportunity for investors at any given time...
http://www.stuff.co.nz/business/mone...rom-retirement
ryman holder
Thats why I hold having got in a few years ago.
I also hold MET. Thought being if they can turn their business around, (just copy RYM) then they will be worth a lot more. Looking at shareprices since I bought, I should have gone SUM, which is having a cracker since IPO, but I still think MET has the biggest upside.