United’s Life Lease

Walking in Banff Park

Certainty in an Uncertain World

Affordability is top of mind for many older adults in their retirement years. Can I afford to live in a United Active Living community? Will my savings run out early, leaving me without a place to live? These are critically important questions, which we have addressed in our unique Life Lease Agreement.

We’ve researched the most effective way for residents to manage their retirement finances. As we get older, owning a home can have its drawbacks, as can the uncertainty of renting. Life lease offers advantages not found in home ownership or renting.

While the life lease concept has financial advantages, most plans do not address potential unforeseen health circumstances that can impact your quality of life and your finances. United’s Life Lease Agreement offers the certainty you need, and the financial peace of mind not found in other agreements.

Some Definitions

United’s Life Lease Agreement is between United Active Living (the landlord), which is the owner and operator of the community, and the resident who will occupy a chosen suite.

The resident pays a one-time Entrance Fee to the landlord (United) for the Exclusive Right to Use the suite for as long as you decide is appropriate. This gives you the right to enjoy, along with all other residents, use of the grounds and all common property.

In addition to the Entrance Fee, the resident pays a Monthly Lifestyle Fee for the services and amenities offered within the community such as art classes, outings and some meals.

Should you decide to terminate your Life Lease Agreement, United will return the balance of your Entrance Fee less any amounts due and owing to them. This is called the Redemption Amount.

We’ve identified the most important elements to include in our Life Lease Agreement which provide as much certainty as possible in an uncertain world. Scroll down to read about our 10 life lease guarantees.

Listen to president Gail Hinchliffe on radio station CHQR talk about the new life lease agreement.

A Life Lease is a tool that helps keep your future years financially worry free. Watch this video to learn more.

I'd like to learn more!

Our unique Life Lease Agreement may be perfect for you. Please contact us today if you are interested in touring our communities at Garrison Green or Fish Creek

United’s Guarantees to You

These are our 10 guarantees to you, designed to protect you and your family.

  1. Worry-free Living

    This is the time to enjoy life. You want to know that someone else is responsible for appliance repair, routine maintenance and replacement. You also want assurance that should you be away for an extended period that your home is being watched over.

    “We guarantee that the appliances supplied with your suite are regularly maintained, repaired, and replaced if necessary. Go on holidays without worrying about your home.”

  2. Complement Your Social Life with New Adventures for No Extra Cost

    Our communities take pride in providing expansive programs and opportunities to engage for all residents.  

    “We guarantee robust lifestyle programs and amenities which will provide opportunities for lifelong learning and social engagement. Our communities are designed to provide amenities supporting a wide range of events. All programs – yoga, art, writing, theatre, music and outings – are included in your monthly Lifestyle Fee.”

  3. Access to Your Funds to Pay for Additional Care

    If the need arises you can remain living within your United community and have access to your Redemption Amount to fund unforeseen care costs. This is a unique feature of our Life Lease Agreement. It creates the peace of mind you need to ensure money is there to fund your further health care needs.

    “Should the need arise, you may choose to access your Redemption Amount to cover the cost of private pay health care provided by our 24-hour professional staff as well as participation in the United Minds (memory care) program if required. We guarantee that you will be granted priority access to a suite in one our 24-hour assisted living care projects, should you decide that this is the best option for you.”

  4. Fees Stop Immediately

    You or your estate do not continue to carry costs once your suite is vacated. We see it as our responsibility (not yours) to carry the costs once you have left your suite and we are in the process of re-leasing your suite. This gives us an incentive to re-lease your suite quickly.

    “We guarantee your estate that the monthly Lifestyle Fee will cease within two business days following removal of furniture and personal effects from the suite. We guarantee that you may surrender your Life Lease for redemption at any time with one calendar month’s notice.”

  1. Redemption Amount Capped

    The Redemption Amount is the balance of the Entrance Fee less amounts due and owing to us. The amount owing to us varies upon length of occupancy. If termination is within one year after possession, 5% of the Entrance Fee is deducted. Within two years, it is 10%. Beyond two years it is capped at 15%. In the event that you wish to transfer to another suite, or to another United community, you will want to be assured that your redemption amount will be capped as outlined in your agreement.

    “We guarantee that the Redemption Amount will be capped – even if you transfer to another suite within the community, or even if you transfer to another United community.”

  1. No Hidden Costs

    There are no hidden costs when you move into a United community, or when you leave. Your monthly Lifestyle Fee covers all utilities including Wi-Fi, cable TV, and telephone service. Property taxes are also covered. We accept total responsibility for undertaking the refurbishing, marketing and re-lease of your suite. These costs are covered by United from the unfunded Entrance Fee.

    “We guarantee not to charge for any sales, administration, marketing or refurbishment (except where there is more than fair wear and tear to your suite) when we re-lease your suite.”

  1. Repayment Protection

    You want assurance that your Redemption Amount is repaid in a timely manner once the suite has been vacated.

    “We guarantee that your Redemption Amount will be repaid to you no later than 120 days following vacancy.”

  1. No Capital Loss

    It is important to you and your family that you have certainty regarding the amount you are repaid when you leave the community, and that you are not exposed to any capital loss when the suite is re-leased.

    “We guarantee to repay you the balance of your Redemption Amount, and that the amount repaid will not be affected by a decline in the value of the suite. No matter what happens in the real estate market we guarantee to repay you the Redemption Amount.”

  1. Changing Your Mind

    Moving is an important decision, and we want you to be confident you have made the right choice in selecting a United Community.

    “We guarantee that if you change your mind within 14 working days of signing your Life Lease agreement (and you have not yet taken up residence) then we will agree to cancel the agreement and refund your deposit in full.”

  1. 90-Day Money Back Guarantee

    We’re so confident you’ll be happy with your decision to move to one of our communities, we will provide you with a 90-Day Money Back Guarantee.

    “We guarantee that if you are unhappy with your decision to move into your suite within 90 days after you take up permanent residence and you wish to leave the community, then we will repay your Life Lease in full.” (Some conditions apply).

Wondering if a life lease works in your situation? Click here to read a few stories from people just like you who decided that a life lease at United was right for them.

I'd like to learn more!

Our unique Life Lease Agreement may be perfect for you. Please contact us today if you are interested in touring our communities at Garrison Green or Fish Creek