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Why Seniors choose Rental Communities over CCRCs - Senior and Assisted Living Costs

Brightview Tenafly Exterior - New Jersey Senior Living

A recent New York Times article, 7 Ways to Judge a Retirement Community’s Financial Health, expresses concerns for new retirees who wish to relocate to a Continuing Care Retirement Community but fear the potential financial uncertainty. Commonly referred to as CCRCs, these type of senior living communities require a large entrance fee and assume control of a considerable portion of a retiree’s assets. As mentioned in the New York Times article, the dissatisfaction with CCRCs stem from the reality that seniors spend years working towards building the financial capital necessary to live comfortably during retirement, spend a large percentage of their life savings to live in a continuing retirement care community, and are “not experiencing the peace of mind they bargained for.”

A different option for senior living are monthly-rental communities. Monthly rental communities have an all-inclusive monthly fee where residents keep complete control of their assets. Brightview Senior Living builds, owns, and manages award-winning monthly rental senior living communities in eight states along the east coast: Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Rhode Island, and Virginia. Unlike certain CCRCs, Brightview Senior Living is privately-held with residents and associates at the focus, not stockholders. With a growth strategy of three to five newly built communities per year, Brightview is a sound and financially stable organization, constantly evolving and focused to meet the needs of our current and potential residents.

“Our mission at Brightview Senior Living is to be a team of people dedicated to creating vibrant senior living communities where we provide excellent service to all of our customers.” – CEO Marilynn Duker

Brightview’s monthly-rental approach to senior independent living, assisted living, and dementia care is not the only differentiator; what makes Brightview unique is our Vibrant Living program. Vibrant Living at Brightview includes our innovative SPICE philosophy (Spiritual, Physical, Intellectual, Cultural, and Emotional) which encourages both residents and associates to practice positive and healthy lifestyles.

LEARN MORE ABOUT SENIOR AND ASSISTED LIVING COSTS

This article is for informational purposes and does not constitute as financial or tax advise. Please consult with your own financial or tax advisor.


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