The Entrance Fee Membership Program at Baycrest Village is designed to provide you with an opportunity to substantially reduce your monthly rent, while preserving up to 75% of your investment for your future needs.
To be part of the Entrance Fee Membership Program, a resident pays a one-time Entrance Fee based on the size and location of his or her apartment or townhome. As a participant in this program, you benefit in the following ways:
Monthly Rent Reduction
A significant advantage of the Entrance Fee Membership Program is that you receive an immediate return on your investment through monthly rent reduction.
Long Term Care Reserve
The Entrance Fee Membership Program offers you an excellent financial reserve for your future long term care costs should the need arise. In the event that you should ever require some short term, long term or catered care, you would be charged the incremental cost of those services needed at the current rates. Comprehensive care services are available to you whenever you might need them: Catered Living, Intermediate Care, Memory Care and Skilled Nursing Care at Baycrest Village Health Center.
Refundability
The amount that you pay to enroll in the Entrance Fee Membership Program is up to 100% refundable to you or your estate. If you should, for any reason, leave Evergreen Court, the following refund schedule is applied:
100% -- up to 6 months
90% -- 7 months to the end of the first year
75% -- thereafter
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