Definition of "Life care communities"
Mike Renouf, Real Estate Agent
Landmark 24 Realty
Facilities for senior adults who pay an entrance fee to move into the facility as well as a monthly fee. The adults receive, in return, a place to live and long-term care usually for the adult's life. Questions to be asked before joining a community include: Who sponsors the community? What is the financial condition of the community? Is the community accredited? Who are the trustees? Does the community provide educational and recreational opportunities? May the residents of the community have visitors and pets and under what circumstances? Who makes the rules for the community and to what extent are the members allowed to contribute? What legal rights do the members have to the assets of the community?
Have a question or comment? We're here to help.