530 Ivings Drive, Port Elgin, Ontario

The Benefits of a Life Lease

  • The opportunity for capital investment and security of tenure.
    The resident may receive a return on their life interest and initial investment similar to the equity which may be realized on a private home or condominium. This is preferable over rental accommodation where there is no return on rental payments. Life Lease offers residents security of tenure since most Life Lease Plans have no termination date and the life interest may pass to the resident’s estate.
  • All maintenance (with limited exceptions) is the responsibility of the non-profit organization and is paid for under a Monthly Occupancy Fee.
    This feature is especially well suited for residents who wish to have an interest in their dwelling unit and the flexibility and freedom to “get-up-and-go” with no worries associated with the security and maintenance of their home.
  • The common facilities of Life Lease projects allow residents to interrelate and create a sense of community and well being.
    The community features a common building for games, dinners, special occasions, emergency response system, etc. These facilities are beneficial for all residents, particularly for those who are occasionally “shut-in” due to inclement weather or for health reasons.
  • Residents have input into both the management and operation of a Life Lease development through representation on the Board of Directors
    This Board of Directors is an elected body formed up of volunteer residents.
  • You share a housing option within a community of shared values and lifestyles.
    The home in which you raised your family is now too large, with both the necessary interior and exterior maintenance being too much to manage. The changes in the neighbourhood – good friends and family have moved away so there is less companionship and fewer neighbours to rely on, in case of a problem or an emergency. Seniors are looking for a housing option which reduces their worry and offers security and peace of mind, all in a community of shared values and lifestyles. For many, Life Lease housing developments have come to their rescue.

Seniors are looking for a housing option which reduces their worry and offers security and peace of mind, all in a community of shared values and lifestyles.