Tags ArchivesReno Retirement Community

Financial Information in selecting a Retirement Community standard

The purpose of this article is to inform you of the financial options, not in any way to suggest one instance/model is better than another. The Three Financial Options in selecting a Retirement Community are: Entrance Fee Model: Entrance fees are sometimes called equity fees, residence and care fees, or endowment fees. These fees vary regarding how much of your initial deposit may be contractually refundable. The entrance fee model is the most common model in Northern Nevada. The fee is generally for the provision of housing; the resident then pays a monthly fee for recurring services. Equity Model: Equity model communities offer more of a traditional real estate purchase situation. At an equity model community, members own their unit. ...

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