You’ve finally decided to move into a senior living community in Houston, TX. You’ve toured the facilities and met with the care team, and you’re excited about making this change in your life. But before you sign on the dotted line, there are some things you’ll want to know about that contract. You must understand what it says, what rights you have under it, and whether it will meet your expectations. The following tips can help make sure that your transition into senior housing goes as smoothly as possible:
Understand The Difference Between A Lease And A License
There is a significant difference between a lease and a license. A lease is a rental agreement, while a license is an agreement to use the property.
In general, it is easier for the resident to terminate their residency under the terms of the rental agreement than it would be for them to terminate under the terms of the licensing contract. If you are considering moving into one of these communities, you should understand that there can be some financial implications associated with terminating early (and sometimes even if you don’t), so make sure that you understand this before signing anything!
A residential license can be renewed automatically without any notice required on either side unless otherwise stated in your contract. In other words: “the more seniority you have at an independent living community” (ILC) “, the less likely they are going to require much advance notice when asking residents’ families members who live elsewhere if they want their loved ones moved out.
Know What Your Contract Says About Your Ability To Transfer, Assign, Or Sell The Unit
You may want to transfer, assign or sell your unit. Some contracts do not allow this, so read the contract carefully. If it is allowed, there are typically restrictions on who can buy your unit and/or when they must do so. For example, some contracts require that you convey all of your rights in the contract before you can sell or transfer it; others require that you wait for a certain period before transferring or assigning it.
It’s important to know what your contract says about these issues because these provisions can have significant consequences for both you and any potential buyer or transferee (unless they’re family members).
Know What The Contract Says About Care At Home
If you need help with daily tasks and activities, there may be a fee for this service. Some retirement communities will provide care at home if it’s needed, while others require that you pay for the services out of pocket. Your contract will specify what is included in your monthly service fees, as well as what isn’t included.
If you have questions about how to get help or access the community’s services, contact the management company directly. If there’s no one on hand to talk with immediately after hours or on weekends, look for someone else in authority who can answer your questions and help you find answers to any other problems or concerns in a timely manner.
Find Out What’s Included In Your Monthly Service Fee
This is one of the most important things to look for when choosing a retirement community. The monthly service fee covers a lot of basic services, such as housekeeping, food preparation and delivery, transportation, security, and additional amenities. It also pays for things like electricity, water, and trash removal (if your rent doesn’t cover them). But many other costs can add up over time if you’re not careful—and it’s possible that your monthly service fee won’t include items like telephone or Internet access.
The best thing you can do is to take the time to understand your contract, whether it’s a lease or a license. It’s common for people to sign up for things without fully understanding them, but when it comes to retirement communities, you need to be careful.