5 Benefits of a Senior Rental Community
More and more seniors are exploring the idea of a rental senior living community, and for good reason. Contrary to a buy-in community, rental senior living communities are available on a lease basis. This type of living provides a surprising number of perks you might not have considered previously. We’ve rounded up five distinct benefits of living in a rental senior living community that will provide peace of mind for you and your family today and tomorrow.
1. You don’t have to pay an entrance fee.
When you buy into a senior living community, you’ll most likely have to pay a hefty entrance fee that could force you to use retirement savings or your estate. When you decide to move to a rental community, there’s no entrance fee. This greatly affects the cost of living in a senior living community, especially if you’re considering living in a luxury retirement community, and makes it much more affordable.
2. The costs are clear.
Because there are no upfront entrance fees or hidden costs, what you see is what you get. The monthly fee associated with a rental community gives you a clear look at the benefits of living in a community. When you compare your monthly rate to what you’d be paying if you stayed in your home, it’s easy to see the value. You can compare the cost of your senior apartment with the costs of keeping up your current home, meals, entertainment, transportation and other miscellaneous costs. Your budget will thank you.
3. You gain freedom and flexibility.
No matter your or your loved one’s status – from assisted living to memory care – living in a rental community provides greater command of the future. If your personal or family situation changes and you or your loved one needs to move out (or move up a level of care), you’re free to do so. Living in a rental community comes with a lot more freedom and flexibility because you’re not committed to a binding contract.
Making the move to a senior living community is a big decision and can be a big change. Opting for a rental can help your decision feel less permanent and, in turn, less overwhelming.
4. Your investments remain your investments.
Rental communities have a way of protecting your finances. You may not need to access your retirement funds for monthly payments and can continue investing as you please. This will give you a major sense of relief knowing your finances are squared away and in good shape.
5. You still reap all the benefits of living in a community.
When you choose to move to a senior rental community, the costs and fees are lower, but you still get to enjoy all the services, amenities and accommodations that come with living in a retirement community. That means you gain the benefits of maintenance-free living, social opportunities and exclusive community activities for one monthly rate.
Introducing The Ridge Pinehurst
The Ridge Pinehurst is a brand-new rental community coming to Denver, Colorado, wrapped in the natural warmth and wonder of the Lakewood foothills. Featuring independent living, assisted living and memory care options, this innovative new retirement community is designed to bring a balance of ease and excitement to your days.
With a variety of floor plans available on a lease basis and no upfront entrance fee required, this soon-to-be community will celebrate and support your luxury lifestyle at a surprisingly affordable price. At The Ridge Pinehurst, we’re committed to investing in you without asking you to invest in us. We’re confident you know what’s best for your assets and estate. Our first priority is what’s important to you.