Residence costs realities: A clear guide
As retirement approaches, many people reassess their lifestyle. Their priorities change, and their current home, once suited to a busy family life, may now seem too large or too difficult to maintain. This often leads to exploring new options, such as private seniors’ residences. However, before taking this step, it’s important to understand the financial implications. To clarify the costs of private seniors’ residences and help you better understand them, we provide candid answers to the most frequently asked questions on this topic.
- What’s included in the rent price of an apartment at Le Groupe Maurice?
In most Le Groupe Maurice residences, your rent covers:
- The apartment;
- 4 major appliances (fridge, stove, washer, dryer);
- Electricity, heating and individually controlled air conditioning;
- Cable TV;
- Wireless Internet in the common areas (and in the apartments of certain complexes);
- Access to multiple common areas (dining room, gym, indoor pool, movie theatre, library, art and activity room, piano lounge, etc.);
- Emergency response calling system in each apartment (even for residences without care units);
- Access to organized activities within the residence.
- How are the prices determined?
Our prices at Le Groupe Maurice do not vary based on the number of people living in the apartment, but rather according to the apartment itself. Each unit is evaluated independently and has its own unique pricing. Some twenty criteria are considered when establishing the price, including the following main ones:
- Square footage;
- Sun orientation (north, south, east or west);
- Floor level – a higher-floor residence offers a wider view;
- Kitchen type – the price varies based on the layout and size of the kitchen;
- Geographical location – the land cost varies by location (downtown, suburbs, region).
- Are there additional fees to budget for?
You can choose from a range of optional services at Le Groupe Maurice, tailored to your needs and interests. Services like housekeeping, meals, parking and select healthcare options are available for a fee. Enjoy the flexibility to manage your time as you prefer, with amenities that fit your lifestyle. The choices are yours!
If cooking isn’t on the agenda, you can choose to add a meal plan to your lease, with options for one or two meals daily – or buy meals à la carte. The same goes for housekeeping services and select healthcare services, like medication management, vital sign checks or dressing changes; you can add them to your package as needed.
Remember to also budget for some personal expenses, including your phone bill, Internet connection in your apartment (if available) and groceries if you prefer to cook your own meals – in addition to the services mentioned earlier.
Also note that when you move into a residence, you need to obtain liability insurance to protect yourself and cover any damages you may inadvertently cause to the property. The residence staff will review and renew your insurance with you when you sign your annual lease agreement.
- What are the rent payment options?
We have a simple and convenient payment method. Upon signing your lease, the residence staff will ask you to complete an authorized bank account withdrawal form.
Should you have extra expenses during the month, such as specialized healthcare or off-site activities, we’ll issue an invoice for those services. We’ll then automatically deduct the amount from your bank account, making it easy for you to keep track of your expenses.
- Are there financial assistance programs for seniors?
Yes. The Tax Credit for Home-Support for Seniors is a provincial tax credit provided by Revenue Quebec to financially support individuals 70 years and older to remain in their home environment for as long as possible. The amount allocated depends on your income, family situation and expenses incurred during the year.
Living in a residence does not affect your eligibility for this tax credit. In fact, optional services included in your lease and used on a regular basis may be eligible. Consider this, as you may be able to save significantly while benefiting from these services!
If you’re unsure about your eligibility, feel free to utilize the tax credit calculator on Revenue Quebec’s website or contact the residence’s administrative staff, who will be pleased to assist and provide guidance.
- Do your rents go up every year?
To fulfill our promise of offering a lifestyle tailored to your preferences while ensuring the quality of work for our employees, Le Groupe Maurice rents and optional services are adjusted annually based on inflation, as well as the costs of managing and maintaining the residence.
- Do Le Groupe Maurice prices compare favourably to other residences in the area?
Yes, assuming you’re comparing two similar residences with the same services and quality. Le Groupe Maurice differentiates itself in the market with its attentive approach, respect, adaptability to residents’ needs and exceptional quality-to-price ratio:
- Comfortable and modern accommodations;
- A wide range of included services;
- Qualified and attentive staff;
- Access to a variety of activities and leisure pursuits.
Just as every person is one-of-a-kind, each Le Groupe Maurice residence boasts its own unique personality. Yet, the constant thread throughout is the exceptional quality of the product, services and the sincere commitment to meeting our residents’ expectations. This translates to a rewarding return on investment for clients, both financially and in terms of overall well-being!
At Le Groupe Maurice, we prioritize building a trusting relationship with you. Therefore, we strive to make our services transparent, with no unexpected surprises or hidden costs.
Should you still have questions – about residence costs or anything else – our teams are here to help, providing you with clear answers and guidance. Don’t hesitate to contact us for support!