What is a Life Lease?
A Life Lease is an increasingly popular retirement strategy for adults 60+.
It’s really quite simple. Instead of leasing a property with ongoing payments, Life Lease tenants pay the entirety of the lease up front. They are then guaranteed a home, without any worries of fluctuating markets or changes in payments. Throughout the term of the lease, residents only pay one monthly fee to cover maintenance, common-area operating costs, and management of the building. That’s it.
The best part? Your lease payment is protected. When the lease is terminated for any reason, your upfront payment is returned back to you less a predetermined refurbishing fee. This provides added financial stability while simplifying your life so that you can focus on enjoying time with your loved ones.
Benefits of Life Lease at Aspen Green:
- Protects you from fluctuations in payments and market conditions
- No Property Transfer Tax or GST on purchase/leasing price
- Half the legal fees of a freehold property
- Frees you from the stress of selling if you choose to move away
- Property care is included in the monthly maintenance fee
- A chance to enjoy community at its best