Skip to main content

Woodland Homes Fee Options

Option I — Rental

  • Entrance fee is established by the market value of the home.
  • Entrance fee for this option is 10% of value of the home. The monthly maintenance fee is 1.95% of the value of the home — standard increases apply each year.
  • Example: Value is $250,000, entrance fee is $25,000, monthly rent is $4,875.

    Option II — 10% 90% Amortize

    • Entrance fee is the construction cost of home.
    • Initial payment — 10% reverts to St. Paul’s.
    • 90% amortizes over 10 years.
    • Resident pays normal monthly fee — standard increases apply.
    • In a higher level of care the unamortized amount may be used to help pay for costs of care.
    • Example: Value is $250,000, entrance fee is $250,000 — $25,000 reverts to St. Paul’s, $225,000 amortizes (declines) over 10 years.

    Option III — 10% / 40% / 50% Amortize/Refund Combo

    • Entrance fee is the construction cost of the home plus 50%.
    • Initial payment — 10% of entrance fee reverts to St. Paul’s.
    • 40% amortizes over 10 years.
    • Resident pays normal monthly fee — standard increases apply.
    • 50% of entrance fee is refunded to resident upon move from St. Paul’s or to resident’s estate upon death once the home is remarketed.
    • In a higher level of care the 50% refundable amount and the unamortized amount may be used to help pay for costs of care.
    • Refund is 50% of the amount initially invested.
    • Example: Value is $250,000, entrance fee is $375,000 — $37,500 reverts to St. Paul's, $150,000 amortizes (declines) over 10 years, $187,500 refunded.

    Option IV — 10% / 90% Refund

    • Entrance fee is the market value plus 90%.
    • Initial payment — 10% of entrance fee reverts to St. Paul’s.
    • Resident pays normal monthly fee – standard increases apply.
    • 90% of entrance fee is refunded to resident upon move from St. Paul’s or to resident’s estate upon death once the home is remarketed.
    • In a higher level of care the 90% refundable amount may be used to help pay for costs of care.
    • Refund is the 90% of the amount initially invested.
    • Example: Value is $250,000, entrance fee is $475,000 — $47,500 reverts to St. Paul’s, $427,500 refunded.

    Option V — Under 72 Age Group

    • Age 72 is based on the oldest occupant of the Accommodation
    • Pay an amount equal to the value of the Accommodation
    • First 10% reverts to St. Paul’s
    • Remaining 90% is reserved under resident(s) name, where it remains without amortizing, until the oldest occupant turns 72.
    • At age 72 resident(s) choose option II, III, or IV in writing. If no option is selected in writing, the Entrance Fee will automatically convert to Option II – 10%/90% Amortize Option.
    • If you leave the Community before age 72, Option II shall apply retrospectively beginning in the month of the Designated Occupancy Date or of Occupancy, whichever is earlier.
    • We shall refund to you ninety-five percent (95%) of the remaining Entrance Fee if you leave within the first twelve (12) months of Occupancy.
    • We shall refund to you eighty percent (80%) of the remaining Entrance Fee if you leave after the first twelve (12) months of Occupancy.

    2024 Terms

    • A $1,000 deposit will hold an accommodation for 30 days. Within that 30 days we will schedule an appointment to sign the Residency Agreement. Initial payment – 10% of Entrance Fee (less $1,000 deposit) for the home is due upon signing the Residency Agreement.
    • The monthly fee is $1,255 for a home 1000 to 1500 sqft, $1,415 for a home 1501 to 2000 sqft, and $1,520 for a home 2001 sqft or larger.
    • Unamortized amounts can be used for a higher level of care.
    • Refundable amounts can be used for a higher level of care.
    • 95% of the remaining entrance fee will be refunded to the resident if the home is vacated for reasons other than death or the need of a higher level of care within twelve (12) months upon remarketing.
    • 80% of the remaining entrance fee will be refunded to the resident if the home is vacated for reasons other than death or the need of a higher level of care after twelve (12) months upon remarketing.

    Note: Additional fees include electric, gas, phone and cable (cable is $35/month for standard services)