Suites available on a Life-Lease basis are two-bedroom apartments ranging in size from 932 sq.ft. to 1,315 sq.ft. All have a full bath with shower, and many have either a half-bath or full bath off the master bedroom.
|You hold the life-lease||You hold title to the property|
|Elim Lodge owns and manages the property||You own the property and the condo association manages the property|
|Guaranteed buy-back of the lease||Sale according to the market|
|Pre-determined price when selling, no legal fees, no realtor fees||Market price when selling, plus legal fees, plus realtor fees|
|Will never be assessed for major repairs||Will have proportionate share of major repairs|
|No condo association or meetings||Condo association and meetings|
|Can sublet||Can sublet|
|Reputable charitable corporation with 35 years of experience in adult housing||Condo owner and association reputation may be unknown or requires research|
|Building construction standards are high; the building will be first class with no corners cut||Condo building construction standards unknown or requires research|
|Management standards are high and the building is well maintained||Management standards are unknown or requires research|
|Building security high / You can pick up and travel knowing your suite is secure||Building security varies depending on the condo owner and association|
|Christian-based community atmosphere||Fellow condo owners are unknown and building atmosphere is unknown|
Acquiring one of Elim Lodge’s Life-Lease suites is similar, in some respects, to purchasing a condominium. Your purchase price guarantees that you can continue to occupy the suite for as long as you are able to live independently in it. Unlike buying a condominium, you do not own the suite. When you no longer require the suite for whatever reason, Elim Lodge refunds your purchase cost or current market value, whichever is less.
As a not-for-profit corporation, we keep the monthly fees as low as possible. The life-lease monthly fee includes your proportion of property taxes, utilities (except for electricity), maintenance fees, common area costs, staff salaries, landscaping and more. Fees are based on the size of the suite. Larger suites pay a little bit more and smaller suites a little less. The fees charged for available suites may be obtained from the Office.
The Elim Lodge Inc. corporation is owned and operated by the Board of Directors. The Board is responsible for the governance of the corporation and delegates responsibility for the day-to-day operation of the corporation to the CEO and the management team. Elim Lodge Inc. is a Registered Charity in the province of Saskatchewan and issues income tax deductible Charitable Giving Receipts.