The new owner of a Thousand Oaks retirement village announced increases Tuesday that will more than double monthly rents for many residents, prompting some to say they will be forced to move.
Paul Rusnak, a principal in LAV Care Corp., new owners of the financially troubled La Serena complex, said the April 1 rent increases were "a survival decision. We can't provide services unless we get money--there are no free lunches."
Some angry residents said they may take legal action against LAV Care, which paid $6 million for the 150-unit complex in January. In the meantime, they said, they will try to persuade Rusnak to give them more time to look for a new buyer. Rusnak said Tuesday that LAV Care is willing to sell if it can do so at a profit.
"It was a bombshell," said Carl W. Segerhammar, 81, whose monthly fee for a two-bedroom unit will go from $1,300 to $2,957. "Most of the 80 or so of us left here aren't going to be able to afford to stay."