Arrange a meeting with a Heritage Life – Retirement Living Representative to discuss next steps in acquiring a life lease unit.
Arrange to provide a pre-lease payment (not to be confused with the entrance fee).
Heritage Life – Retirement Living requires that a $1,000 pre-lease payment be made that will confirm your expression of interest. If you enter into a life lease later, we will either return the pre-lease payment or apply it to the entrance fee.
A pre-lease payment is not a deposit. It doesn’t guarantee that we will offer you a life lease. The pre-lease payment will be held in trust until such time that a life lease is offered to you. If a life lease is not offered or you change your mind, the pre-lease payment will be returned to you.
The date upon which we receive your pre-lease payment will place you in priority sequence for choosing a suite.
Right to Cancel
As long as you haven’t taken possession of the unit, you have seven days to cancel. This is called a cooling-off period. The seven day cooling-off period starts the day after the landlord gives the tenant the “Tenant’s Right to Cancel” statement (typically provided upon the signing of the lease), whether or not the tenant has already signed the life lease.
Choose a Suite Size. A calculation will be made for the monthly common fee based on the suite size chosen
Choose a Purchase Option. The Guaranteed Buy Back or Equity Based option.
Arrange necessary financing. The Niverville Credit Union has indicated that they would be pleased to review financing options with individuals seeking to make a life lease purchase. Please call (204) 388 4747 for more information.
Have Your Lawyer Review the Life Lease Agreement and all disclosure documents that we will provide to you.
Decide on an amount and provide the Entrance Fee payment. A calculation will then be made on the monthly rental payment
Decide on any additional amenities such as meal services, housekeeping, laundry service, cable TV, telephone and internet.
Arrange insurance for your personal belongings and an amount for personal liability insurance. Heritage Life – Retirement Living will carry general liability insurance.
Complete an Electronic Funds Transfer Agreement with Heritage Life Retirement Living.
Take possession of your new life lease home at Heritage Life – Retirement living!