Leasing

 Many people are surprised at what they can afford when they consider a Lifestyle Community like Estates of Niagara, paying a monthly base lease fee, which covers the cost of your Unit or Friendship Suite including utilities, insurance, property taxes, shared parking, all our amenities, scheduled activities, and maintenance.

 

  • One monthly payment. You no longer will pay for separate utilities, insurance, property taxes, and all those other monthly maintenances and yearly bills that you pay when you remain in your own home.
  • You may have more resources at hand than you realize. Typically, seniors in Canada have Canada Pension Plan (CPP), and Old Age Security (OAS) benefits along with other income such as a work pension plus savings and equity from the sale of their family home. You might also consider the benefits of reinvesting money among other options

 

Life Membership Vs. Leasing

Our Charter Life Membership Package is wealth building and many of our future members will acquired additional apartment homes (Unit)or Friendship Suites, as a source of future income. The decision as to whether to acquire a Charter Life Membership package or to become a charter member lease holder is not so simple… READ MORE 

Please consider the benefits of various options before you decide which way to proceed. It is generally considered wise to have real estate appreciation rather than leasing but there comes a point in time where this may not be the case. 

A lease offers freedom from the responsibilities of ownership but note that leasing will be subject to annual increases and charter membership fee of $20,000.00, which is refundable upon the successful completion of the agreement.  

Leasing Cost

Many people are surprised at what they can afford when they look at what they might consider a Lifestyle Community like the Estates of Niagara… READ MORE 

We estimate that up to 25% to 40% of our residents will be lease charter members with a life lease agreement, paying a monthly base lease fee.  Our monthly base fees cover the cost of your Friendship Suite (for one occupant) including utilities, insurance, property taxes, parking, all our amenities, scheduled activities, and maintenance.  

Leasing in Ontario refers to leased accommodations (for approved charter members only), based on single occupancy of a Suite, which fall under the Residential Tenancies Act, regarding lease laws as they apply to your suite at the Estates of Niagara, which does require a written lease agreement, noting that base leases will include annual increases as governed by Residential Tenancies Act, 2006.

  • All your standard Suite costs are under one umbrella monthly payment. You no longer must pay for separate utilities, insurance, property taxes and all those other monthly maintenance and yearly bills that you must pay when you remain in your own home.
  • When people sit down and do the math, they are often surprised that moving to an Estates of Niagara Lifestyle Community is more affordable and well within your means. We offer a close look at some of the costs of aging at home vs. moving into a Lifestyle Community.

Two key factors that can affect your decision to acquire a Life Membership or a lease will depend at what stage of life are you at and what are your current finances are?

Once you are approved as a charter lease member and have paid the required membership fees, the lease will require the First and last month in advance, plus any second person charge, along with any services agreements.

Yes, there are rules and regulation for all Members and a copy of the rules and regulation are attached to the lease agreement.

Ready to Step into your New Life?

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