Frequently Asked Questions
Parkville retirement community costs
- Do I buy my Oak Crest apartment home?
- Will the cost of my Monthly Service Package fluctuate?
- Will the cost of my entrance deposit ever increase?
- Will I be responsible for the remarketing of my apartment home?
- I certainly don't plan to run out of money, but what happens if I do?
Do I buy my Oak Crest apartment home?
A: No. You and Oak Crest enter into a contract that entitles you to housing and many other community benefits. You enjoy all the advantages of home ownership without the hassles—or customary Parkville retirement community costs that some communities charge their residents.
Will the cost of my Monthly Service Package fluctuate?
A: Once a year the Oak Crest not-for-profit board reviews the Monthly Service Package fees to determine if they need to be adjusted to align with current Parkville retirement community costs like labor, energy and food.
Will the cost of my entrance deposit ever increase?
A: No. Once you've locked in your entrance deposit amount, you will never be asked to put more money down. However, because Parkville retirement community costs can increase, it is wise to lock in your one-time entrance deposit as early as possible.
Will I be responsible for the remarketing of my apartment home?
A: No. Oak Crest is responsible for obtaining a new contract on your apartment home once you release it.
I certainly don’t plan to run out of money, but what happens if I do?
A: Oak Crest is committed to supporting residents who experience unexpected financial difficulty. Our community has a fund dedicated to assisting eligible residents. The mission of every Erickson Living community—to care for residents no matter their financial position—is reflected in our 29-year track record: No one has ever been asked to leave our community due to a genuine inability to pay because of circumstances beyond their control.
Do you have other questions? Contact us and a team member from our Sales and Information Office will promptly respond to your inquiry.