This unique plan allows residents to purchase life lease interest, at market value, in their Martha’s House apartment home. This is very similar to purchasing a home or condominium. It gives you exclusive use of your suite, shared use of all common areas and facilities and all of the other many benefits that come with the Martha’s House lifestyle.

Actual ownership and title of the apartment home remains in the name and protection of St. Michael’s Housing Association. For our part, we promise to maintain your apartment and to provide the highest quality management and long term maintenance benefits for you.

Once you take possession of your apartment home, you will pay a monthly fee, similar to a condo fee, which represents the your share of common project costs and ensures your safety, independence and attachment to a vital and welcoming community designed for seniors.

When your apartment is vacated, St. Michael’s Housing Association will pay you or your estate monies according to the following buy-back scale:

95% of deposit under 2 years of occupancy

96% of deposit following 2 years of occupancy

97% of deposit following 3 years of occupancy

98% of deposit following 4 years of occupancy

99% of deposit following 5 years of occupancy

Other benefits of choosing a life lease:

1. Your monthly costs for living at Martha’s House are reduced substantially.
2. The reduction in your monthly rent is not a taxable benefit which means you have no property taxes to pay.

Current Life Lease costs are as follows:

One Bedroom $115,000
Two Bedroom $172,000

Current Life Lease monthly accommodation fees are as follows:

One Bedroom/One Person $1292.50- $1450
One Bedroom/Two Persons $1807.50- $1965

Two Bedroom/One Person $1520 - $1625
Two Bedroom/Two Persons $2035 - $2140