Financial Frequently Asked Questions
Retirement community costs: frequently asked questions
- Do I rent my apartment home?
- Will I be responsible for the remarketing of my apartment home?
- Will the cost of my entrance deposit ever increase?
- Will the cost of my Monthly Service Package increase?
- I certainly don’t plan to run out of money, but what happens if I do?
Several of the questions we’re most often asked about Erickson Living’s financial setup are answered below. Don’t see your question? Select a community near you and call them directly. Our sales team will be happy to respond to all your inquiries.
Do I rent my apartment home?
A: No. You and the community 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 the customary retirement community costs that other communities charge for upkeep.
Will I be responsible for the remarketing of my apartment home?
A: The community is responsible for remarketing your apartment home.
Will the cost of my entrance deposit ever increase?
A: No. Your entrance deposit is a one-time payment that secures your apartment home. Once you’ve paid your full entrance deposit, you will never be asked to put more money down. However, because retirement community costs can increase, the sooner you lock in your one-time entrance deposit, the better.
Will the cost of my Monthly Service Package increase?
A: Your Monthly Service Package is typically adjusted annually to reflect the current costs of labor, energy and food. Any increases or decreases are determined by the community’s not-for-profit board of directors.
I certainly don’t plan to run out of money, but what happens if I do?
A: We are committed to supporting residents who experience unexpected financial difficulty. Each 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 27-year track record: No one has ever been asked to leave due to a genuine inability to pay because of circumstances beyond their control.*
Click below to learn more about retirement costs at the Erickson Living community closest to you:
- Wind Crest Highlands Ranch, CO
- Tallgrass Creek Overland Park, KS
- Fox Run Novi, MI
* This information may vary for Erickson Living's Life Care community, Devonshire at PGA National in Palm Beach Gardens, FL. For details about Devonshire's unique pricing, services and care plans, click here.