In terms of their presentation, Rental Retirement Communities can look very similar to an equity model or traditional CCRC. Both offer independent living accommodations for active older adults. Both often offer attractive campus settings and a wide range of lifestyle features, programs and amenities. In some cases, both might feature dining centers, care wings or medical facilities onsite.
The difference is as an equity-model CCRC, Legacy is committed to providing housing and a complete spectrum of services, including health care, to our residents, in addition to the equity they are earning in their homes. Importantly, those services are included under the terms of our service agreement at substantially below their market cost, which are predicted to continue rising in the decades to come.
At a Rental Retirement Community there is no contractual obligation for medical services and, in the vast majority of cases, those services are charged separately from rental fees and at current market rates by an independent home services agency. Because they are not licensed to provide higher-level assisted living or skilled nursing services, residents requiring those services will eventually need to relocate.