Heritage Life Retirement Living offers the following opportunity for individuals and couples to acquire a life lease unit.
- In an equity based model, the couple or individual would pay 100% of the value of the suite.
- Common fees apply and are based on suite size.
- In an Equity Based model, the individual or couple would take responsibility for the sale of the life lease suite when it is no longer required. They would keep the appreciated value that the suite (less an administration fee) may have gained. However, they also accept the risk that the suite may not appreciate.
- 2.5% of the selling price of the life lease suite is required to be paid to the sponsor as an administration fee.
- Monthly common fees are based on suite size and include hydro, water, property tax and maintenance. Common fees do not include TV, Internet and Telephone.
- One time fee of $1,500. Of this $1,000 deposited into the Maintenance Reserve Fund and $500 deposited into the Vacancy Reserve Fund.