• facebook
  • googlePlaces

Suite 112, 204 Haddow Close NW, Edmonton, AB T6R 3B3, Canada

©2016 BY CHANCERY PUBLISHING

What is Life Lease?

Life lease communities are among the latest ownership options in retirement homes for seniors. Life lease retirement homes offer mature adults - who are neither tenants nor owners – a stake in a community designed as a rewarding, supportive and affordable place to live.

Residents buy a life lease or leasehold interest in their accommodations, giving them a right to occupy the unit and use all the communal amenities, such as dining rooms, games rooms and lounges.  Residents also pay a small monthly occupancy fee depending on the size of the unit.

When residents leave a Lions Village unit, they are refunded the original amount of their deposit subject to the terms of their lease.