Monthly Rental Community vs. CCRC
Brightview Senior Living provides vibrant senior living rentals and is committed to helping area seniors and their families make smart, well-informed decisions about their futures. The guide below outlines the different independent senior and assisted living costs comparison between communities offering senior independent living and assisted living rentals and a traditional Continuing Care Retirement Community (CCRC) with a large Entrance Fee.
Dollars & Sense: Why Senior Living Rentals May Be Your Best Move
Are you ready to right size your life and start living the carefree retirement lifestyle you deserve – but aren’t sure if you should choose a senior living community with monthly rentals or a CCRC with a large Entrance Fee?
Our Independent Senior and Assisted Living Costs Comparison Guide explains why many of today’s seniors are opting to rent, but more importantly, it will help you to determine if a rental community such as a Brightview Senior Living Community is the answer to your own financial and lifestyle goals.
Senior Living Rentals at Brightview Communities
- No Large Entrance Fee.
One simple, all-inclusive Monthly Fee with an initial community fee (varies by Brightview Community) is comparable to what area seniors currently pay to occupy and maintain their homes each month.
- You Control 100% of Your Assets.
Month-to-month rental structure means no long-term financial commitments. Your assets remain liquid to spend as you wish – invest, travel, give as gifts, and so much more.
- Very Flexible Contracts.
You typically need to give a 30-day notice to move out for any reason if you're an Assisted Living or Personal Care resident. Independent Living residents typically need only provide 60-days notice after their first year of residency, some communities may only require 30-days.
- No-Strings Access to Upgraded Service & Care.
When needs change, independent living residents can move to our assisted living.
- No Invasive Financial Acceptance Process.
Because they are not investing large Entrance Fees, Brightview applicants need not be subjected to CCRC-level financial scrutiny.
- No Medical Acceptance Process.
Couples with different needs can continue living together in our independent senior living neighborhood while utilizing private duty services.
The differentiator we take the most pride in is: we work hard so you’ll want to stay. We know that our monthly rental policy makes it easy for residents to move out if and when they choose, so we’re very committed to making sure they choose to stay. We are constantly investing in our community and associates to improve our services, expand our offerings, and upgrade our luxurious environment to keep residents happy and proud to call Brightview “home.”
Typical Continuing Care Retirement Communities (CCRC's)
- Large Entrance Fee.
Hundreds of thousands of dollars are required up front in addition to a Monthly Fee.
- The CCRC Controls a Large Portion of Your Assets.
While a percentage of the Entrance Fee may be refundable, this money will be inaccessible to you for the length of your residency and possibly longer.
- Tied-Up Assets Could Make a Move Difficult.
Typically, CCRCs require a 90-day move-out notice AND hold the refundable portion of your Entrance Fee until someone else occupies your apartment. This can delay your ability to get the services and assistance you need, when you need it.
- CCRCs Have Strict Financial Requirements.
A large Entrance Fee and thorough evaluation of an applicant’s personal finances can disqualify them from residency or force them to take a non-refundable fee option.
- Care Plans Generally Dictate the Community
Residents with similar needs are encouraged to live in the same community, which can mean splitting up couples with different needs.
What are the real independent senior and assisted living costs?
When you do the math, the Brightview Senior Living rental option is competitive and could be a better financial option compared with the typical CCRCs, which require a large entry fee.
The content is for informational purposes only, you should not construe any such information as legal, tax, investment, financial, or other advice.