       Each Life Lease Community is unique with different backgrounds, different values, different location and different needs. The final decisions on building features and
Lifestyle Services are made by the sponsor group and the
prospective residents during the last stage of the design
process before construction. |
One of the prime advantages of the Life Lease approach to residential housing development and management is that the sponsoring group and the residents can tailor the building and lifestyle to their unique specific needs. Each Life Lease Community is unique with different backgrounds, different values, different location and different needs.
Most housing developments are designed by developers who make their best guesses about what particular housing and lifestyle will sell in a particular community. Purchasers of the units then have to live with the many choices that the developer made during the development process.
Life Lease housing development is different in that the sponsor group and prospective residents participate in both the building and the Lifestyle design process. Prospective residents can choose between Lifestyle options and, together, select building features and service features that they both want and can afford. The Life Lease Community can also choose which Lifestyle Services are mandatory and which are optional.
However, it is important to realize during the building and Lifestyle design process that extra building features and services always come at a cost to the residents. Some features can come at little or no cost while others can be quite expensive. In general, special building features add to the initial cost of the building and the units as a whole and are built into the initial purchase price. In contrast, Lifestyle Services may not only increase the building cost, but will usually increase the cost of the Monthly Occupancy Fee to the residents who choose to use these services.
The overall cost of the building is directly related to the size of the building, so any building feature that requires additional space will also increase the cost.
Building features that add to the overall cost of the building include common area meeting and recreational spaces, enclosed parking facilities, dining areas, health service spaces, special security features, or additional storage space.
Service costs to residents are directly related to the amount of time it takes to provide the service and the qualifications of the service providers. For example, nursing services are more expensive than housekeeping services.
Lifestyle services may include housekeeping, attendant care, recreation, and property management.
The final decisions on building features and Lifestyle Services are made by the sponsor group and the prospective residents during the last stage of the design process before construction. Most importantly, the costs are determined before the prospective residents commit their non-refundable deposit. In this way each prospective resident knows the cost of their unit and their first year Monthly Occupancy Fee before they sign any legal agreements committing them to purchase their Right To Occupy.
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