Life Lease combines all the best features of ownership and renting for independent and carefree retirement living.
The Life Lease model offers a form of retirement housing that provides assured tenure, a hedge against inflation, security, comfort, freedom, and independence at a reasonable cost. The program requires tenants to make a one-time financial contribution (the entrance fee) that is based on a percentage of the cost of value of the Life Lease suite. In return for the entrance fee, the tenant is granted a lifetime lease. The entrance fee is refundable upon termination of the lease.
Life Lease tenants also pay monthly carrying charges to cover the share of the operating and finance costs attributed to their unit. Both the entrance fee and carrying charges amount are assigned to each suite based on size.