The better lifestyle option for independent living!
Life Lease housing developments have been established for many
years in Ontario and Canada, and have recently become the
preferred choice of today's rapidly expanding senior
population. There are currently over 80 Life Lease
communities in operation across Ontario. Life Lease
housing has proven to be a creative option for providing
housing, programs and support, plus an opportunity for
investment today for tomorrow.
Life Lease communities enable residents to belong to a community
designed to meet their changing needs. Future support
services can be provided to residents so that they can maintain
their independence for as long as possible. Most of all,
residents find the community feeling of living with other mature
adults and the reduced home maintenance of a condominium-like
environment, to be particular attractions of Life Lease housing.
"It's simple; all we have to do is change our address.
A lifestyle free from home maintenance that once occupied our
waking hours ~ we can't wait, our fun years are about to begin!"
- J. Johnston, Ottawa, Ontario
Under a Life Lease Plan, residents purchase a life lease
interest, at market value, in both the property and their suite,
similar to purchasing a home or condominium. They have
exclusive use of their suite, shared use of all common areas and
facilities, and many more benefits.
The Life Lease form of tenure offers similar protection to
freehold ownership. For example, the Lease can be
registered on title to the property in the same way a deed can
be registered on a condominium or detached house. This
registration protects the interests of the residents.
When the resident or their estate wishes to sell their life
lease interest, they receive market value, less a small
administration fee. As the market value of local real
estate increases, so does the value of the life lease interest.
Mature adults are able to protect their investment and earn a
return similar to the equity growth in their family home.