Life Lease

A growing housing option for seniors in Ontario is a unit in a life lease building. A few years back I had the opportunity to see first hand what a life lease was all about.

I initially became involved with the process here in Uxbridge as a member of a group who were looking into alternative housing solutions for seniors in Uxbridge. I continued to work with members of the group who felt it could be done as a development rather than the more conventional way at the time (a church or organization sponsored project) which often takes years to get off the ground. Participating in this project was an exciting endeavor for me as I was very interested in options for Seniors who wanted an independent lifestyle but no longer wanted the work involved in the up keep of a home.

The following is a primer on life lease housing

A "Life Lease" is a form of housing designed primarily for seniors that allows them to live independently in a retirement community setting. It has also been described as the "right to occupy" wherein individuals purchase the right to occupy a dwelling unit for the rest of their life, or until such time as they no longer wish to occupy the dwelling. Unfortunately Life lease arrangements are not covered by Ontario's Condominium Act, or the Residential Tenancies Act. The relationship between the life lease sponsor (developer) and resident (purchaser) is defined in the life lease agreement and is governed by contract and common law.

These life lease agreements determine the level of input into management, and conditions of occupancy and sale of the dwelling unit. Unfortunately purchasers often choose life lease housing based on its location, price, amenities or sense of community. As a result, many purchasers may not fully understand what they are purchasing. The contents of agreements entered into by sponsors and purchasers can vary widely. The variation provides sponsors and purchasers with  flexibility in designing life lease housing projects that suit the needs and desires of a seniors' community. On the other hand the lack of a standard legal, financial and governance structures for life lease projects can pose significant challenges for purchasers, as well as legal and real estate professionals involved in the life lease transaction.

Life leases projects have a number of characteristics in common with both condominium ownership and rental housing and are generally set up by not-for-profit or charitable organizations (the Sponsor). These projects generally provide amenities as well as limited services for residents. The attraction for seniors to a life lease is the opportunity to move from a their home into a housing project where there is companionship, programs or services in keeping with a retirement lifestyle and at the same time the ability to maintain some form of equity in real estate ownership.

Most life lease projects in Ontario follow the basic structure of a "market-value" model where Purchasers pay full "market value" for the right to occupy the life lease unit. When the occupancy ends, the resident or their estate will sell the life lease interest for whatever the market value is at that time. Significant variation may exist in how individual life lease projects are developed and managed. Each project establishes its own agreement, which determines the governance of the housing project, the occupancy conditions and sale of the unit.

A few of the key components of a life lease project are: They are generally developed or sponsored by community-based, not-for-profit organizations. The project sponsor and purchaser enter into a life lease agreement detailing the unit price, conditions of occupancy and what happens when the occupancy ends. Life lease housing projects may include high- or low-rise apartment buildings, semi-detached or townhouses, and detached houses. Prices are generally comparable to condominiums. The length of occupancy varies in individual life lease agreements. In many agreements, the resident maintains the right to occupy the unit for the duration of their life (or until no longer capable of living in the unit). Residents pay property taxes and monthly maintenance fees for building services and utilities. These fees cover maintenance, reserve funds, administration, building insurance, landscaping, etc. At the end of occupancy, units are resold. Sponsors often retain administration fees of 5% to 10% of resale value.

As a Seniors Real Estate Specialist I understand it is sometimes a difficult time for a person when it comes time to give up the family home. Unlike a normal real estate sale you are not just dealing with the buyers or the sellers of the home. You are dealing with the family dynamics often with several adult members of the family who may have conflicting views with what is best for mom and dad or even with what mom and dad wish to do.

If you are a senior or have a family member who is and is thinking of selling or buying
please give me a call to
Discuss Housing Options for Seniors

Please give me a call

Kathy Clulow

905.852.6143 

Getting Help When You Need It

For seniors getting the right help in a timely manner is sometimes very difficult. As a primary caregiver for an elderly person finding the right sources of information and assistance can be a large undertaking.

As a Seniors Real Estate Specialist I recognize the desire of other family members to be involved in the smooth transition from owning your own home into accommodations that meet your current needs. Giving up a home that holds a lifetime of memories is often difficult and working with a Seniors Real Estate Specialist who understands helps to make that transition easier. 

If you are the primary caregiver for a senior or simply need some information here is a link to my collection of Seniors Resources that you may find helpful. Here you will find resources and links to web sites to assist caregivers or seniors in locating information and assistance on dealing with Financial, Health, Accessibility, Vitality, Longevity and Aging issues and concerns to increase the quality of life for yourself or your loved ones.

Are You having a Seniors Moment

Here is a little Seniors humor that I received in an email to help brighten your day

HOW TO CALL THE POLICE

WHEN YOU'RE OLD

AND DON'T MOVE FAST ANYMORE.

George Phillips , an elderly man, from Meridian, Mississippi, was going up to bed, when his wife told him that he'd left the light on in the garden shed, which she could see from the bedroom window. George opened the back door to go turn off the light, but saw that there were people in the shed stealing things.

He phoned the police, who asked "Is someone in your house?"

He said "No," but some people are breaking into my garden shed and stealing from me.

Then the police dispatcher said "All patrols are busy. You should lock your doors and an officer will be along when one is available."

George said, "Okay."

He hung up the phone and counted to 30.

Then he phoned the police again.

"Hello, I just called you a few seconds ago because there were people stealing things from my shed. Well, you don't have to worry about them now because I just shot them." and he hung up.

Within five minutes, six Police Cars, a SWAT Team, a Helicopter, two Fire Trucks, a Paramedic, and an Ambulance showed up at the Phillips' residence, and caught the burglars red-handed.

One of the Policemen said to George, "I thought you said that you'd shot them!"

George said, "I thought you said there was nobody available!"

I LOVE IT!

Don't mess with old people

Live well, laugh often, love much!!!

Help Put Uxbridge On The Board ... The Monopoly Board

Hasbro is having a poll to see what Canadian Cities to place on their new version of Monopoly. We are already a liitle behind the eight ball as it started January 11th 2010 and runs through Feb 21, 2010 you can vote for up to 3 of your favourite (preselected) cities each day and one wildcard city. More about Voting

Starting Feb 8th you will only be able to vote for the top ten wildcard cities so get out there and vote now.

Lets

Put Uxbridge On The Board

Canada Doubles Up Your Haiti Earthquake Charitable Contributions

Canada had a long term commitment (2006 to 2011) of $555 Million to help in the reconstruction of Haiti prior to the January 12th eartquake. Registering 7.3 on the Richter scale this violent earthquake has resulted in massive destruction and disruption of the countries infrastructure.

CIDA Will Match Your Donations

The human toll is already stagering and is likely to grow worse as the days march on. Canadians wishing to help have a means of doubling up any contribution they make to the relief work that is needed.

On January 14, 2010, the Government of Canada announced that it will match dollar for dollar the contributions of individual Canadians to eligible Canadian charitable organizations in support of humanitarian recovery and reconstruction efforts in Haiti up to a total of $50 million.

Which Donations Will Be Matched?

To qualify for matching, the donations must be:

made by an individual Canadian (not a corporation or business) up to $100,000
made to a registered Canadian charitable organization that is receiving donations in response to the January 12 Haiti earthquake
specifically earmarked for the purpose of responding to the earthquake
made between January 12 and February 12, 2010.

Ensure that your donation is matched by visiting the Canadian International Development Agency Web Site.

For More Information Visit CIDA's Website

On The Stage In Uxbridge

OnStage Uxbridge, a local uxbridge theatre group, is bringing "Anne of Green Gables" the musical to the stage of the Uxbridge Music Hall this weekend and next. 

Don Herron and Norman Campbell were commissioned by the Charlottetown Festival to expand their television version into a full length musical in 1965. The musical premiered at the 1965 festival and its first national tour was in 1967. It has travelled the world but still has close ties to Uxbridge.

Uxbridge was home to the famous author "Lucy Maude Montgomery",the wife of Rev. Ewan Macdonald a Presbyterian minister, who resided in Leaskdale from 1911 to 1926.  Here is where she wrote 11 of her 22 best selling novels. One of those 11 was "Anne of the Island", written in 1915, which was the third book of her most famous series that began with "Anne of Green Gables"

For more information on the Uxbridge production visit OnStage Uxbridge

Are You 14 To 20? Love The Theatre? Like To Sing and Dance?

What an opportunity for the youth of Uxbridge who have an interest in the theatre. Uxbridge Youth Theater is looking for 14 to 20 year olds to audition for roles in their production of the Broadway musical hit Godspell.

Auditions are today Saturday Jan 9th from 2-5pm at Uxbridge Baptist Churchand and tomorrow Sunday January 10 from 10 am to 6 pm at St. Andrews Presbyterian Church with call backs on Saturday January 16th.

Arrive at the start of the day and be prepared to stay for the day. You will be taught a song and a dance at the audition so wear comfortable clothes. You may be requested to read a specific passage from the script and you are asked to have a photo to add to your application.

19 Joseph St

Uxbridge, Ontario

Spacious
Family Friendly Backsplit

Presented
by
Kathy Clulow

Sales Representative
  RE/MAX Scugog Realty Ltd. Brokerage 905-852-6143
Each office is independently owned and operated
 © 2010 Kathy Clulow (Uxbridge Real Estate Online) All rights reserved.

Never has there been such a quest for Truth,
such a yearning for Peace, such a longing for Love

Never such a striving to understand and to be Understood

Never has there been such a need for the Spirit that is Christmas

At this beautiful season let us all remember that the greatest gift of all is love.
May you have a loving Christmas, surrounded by family and friends.

From our House to Yours
We wish You all the Blessings of Christmas
and
A Super New Year

Experience the Joy of that First Christmas

I invite you to join me as we witness the wonder of that very first Christmas. 

We will be sitting on the bleachers surrounding the park, but we could just as easily be overlooking the town of Bethlehem.  Peeking in, we follow Joseph leading the donkey into the village carrying Mary on its back. The horses come galloping in as the soldiers round up the townspeople to pay their taxes ... the children escape, playing tag as they run around the bonfires.

As quiet descends on the set you may be able to hear the lambs baa, as the first cry of baby Jesus breaks the spell. The townspeople gather round to see this wondrous thing that has come to pass ......

The Living Nativity,

The live dramatic presentation of the Christmas story is returning to Uxbridge.

Once again this year the story of the simple birth of Christ will come alive in Uxbridge with a cast of over 125. This live production portrays the events leading up to the moment when the Baby Jesus was born in the humble stable, then follows the travels of the shepherds and the wisemen's entourage as they come to pay homage to the newborn King.

The village of Bethlehem is re-created, to form the backdrop for an exciting and colourful depiction of the very first Christmas.  Everyone enjoys the pageantry of the Roman Soldiers on horseback, the live animals, the colourful costumes and the majestic Christmas music and narration. Your crèche will take on a whole new meaning as you watch the story unfold before your very eyes.

The LIVING NATIVITY is sponsored by the Uxbridge Baptist church, as a gift to the community.  It all began in 1974 with annual productions on the main street of Uxbridge for several years. After a number of years off the Living Nativity returned in 1985, and has been produced alternate years by Co-producers, Joan Wideman, and Brian Evans, working with a strong team of over 25 preparation and behind the scene volunteers. It was last produced in 2007 and drew crowds of over 4000 to Centennial Park.  

"The 2009 Port Perry Santa Claus Parade"

 Theme 

 "A Winter Wonderland"!

Saturday, November 28, 2009.  

One of the largest evening light show parades in Durham Region!

Starting point ... the Port Perry Fair Grounds at 5:00 pm.

The Parade Route:

The parade will travel along Reach Street, to Simcoe Street (turn right), south to Queen Street, (turn left), then along Queen Street to end at Water Street.