Residents enjoy a world of possibilities at O’Connor Woods, with
the assurance that their unique needs will be taken care of
throughout their journey of life.
We understand that there is no one-size-fits-all approach when it
comes to finding a new home, and for this reason, O’Connor Woods
offers different payment options to choose from. Our Continuing
Care Retirement Community (CCRC), or Life Plan Community,
conveniently offers choices between rental and membership
options, allowing prospects the freedom to choose the payment
option that best fits their unique needs.
Residents can choose a month-to-month residency option and forego
paying an entrance fee. With this option, residents pay the full
rental fee of their unit, as well as the full associated costs of
increased levels of care, if they are needed.
Residents that choose a membership option pay an entrance fee
upfront. This entrance fee allows them to reduce their monthly
rental rate by 25%, and save 10% on higher levels of care should
the need arise.
Types of Entrance Fee Contracts
There are two different entrance fee contracts available to
A Traditional 3-Year Amortized Agreement requires less money
down and is amortized over the course of 36 months. Residents who
move out within the first three years receive any remaining
amount upon leaving. After three years, no funds will be returned
but residents continue receiving 25% off monthly fees and a
reduced rate for higher levels of care.
A 90% Repayable Agreement requires a dollar amount put down
based on the specific unit chosen. Upon leaving the community,
the resident receives 90% of the amount paid.
To learn more about the benefits of a Membership options click
the link below: