A life lease is a secure and tax-smart way for you to lower your monthly living costs by paying a 99%-refundable entrance fee.
How does it work?
The entrance fee you choose is applied to the list price of your suite and reduces the Capital Cost portion of your Monthly Basic Fee. Think of it like a mortgage on your house. If you decide to go with the 100% life lease, your monthly cost of living would not include mortgage costs. If you put 75% or 50% down, your Monthly Basic Fee will include mortgage costs. Our staff will be happy to assist you in making the choice that works best for you.
What are the key advantages?
A life lease is a secure and tax-smart way for you to use your capital. In fact, you would need to find an investment that pays better than 5% in order to surpass what you save by paying the refundable entrance fee.
Is it secure?
Our life lease agreements contain a refund provision whereby we refund you 99% of your entrance fee, usually within 30 days of your vacating your suite, and no later than 90 days after.
Our life lease program in Lethbridge has been very successful with an extensive waiting list of people ready to move in. We have a proven reputation as a trusted partner to our residents. Trust is one of our founding principles. We are part of an organization that has a respected 150 years of service history in Alberta.
Your Monthly Basic Fee includes the following:
All utilities except telephone and cable TV
Wi-Fi access in public areas
Full meal service
Beverages and snacks available all day
Light housekeeping in your apartment once per week
Maintenance to your apartment
24-hour on site staff
Planned recreation and social programs
Your Monthly Basic Fee means you never need worry again about:
Our one-bedroom suites range in size from 550 - 650 sf, and rent from $2900 – $3500 per month. Alternatively, you may purchase the life lease option starting at $225,000, which reduces your monthly fee to $1800 per month.
Our two-bedroom suites range in size from 750 – 900 sf and rent from $4000 - $4600 per month. Alternatively, you may purchase the life lease option starting at $360,000, which reduces your monthly fee to $2275 per month.
The life lease program is available at a 100% level where you pay full list price, or at a 50% or 75% level where you pay a percentage of list price. Life Lease monthly fees are calculated based upon entrance fee and square footage.