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When the Suite is no longer viable for the resident, it may be sold (at fair market value) or left in the resident’s estate. The Life Lease Suite has the potential to earn a return on one’s investment, similar to equity growth in a home. All this is accomplished without the worries and headaches of owning, maintaining and selling a home.
Monthly occupancy fees are paid to the owner and property taxes apply. The owner cares for all routine maintenance and landscaping. In the event that the resident is away for an extended period of time, he can rest assured that his Unit is secure by the controlled access to the building.