Senior Living: What Do They Mean by All-Inclusive Monthly Rental Costs?

In a previous blog, we discussed why a rental community makes perfect sense for today’s active and independent seniors. But “renting” can mean different things at different places. What’s included in the monthly rent? What does “all-inclusive” truly mean? What are the additional costs you could incur?

“Park Manor is truly an all-inclusive monthly rental community, meaning that everything that’s related to your daily life and care – from meals to rent to utilities – are included in your monthly cost,” says Angel Van Horn, Community Relations Specialist at Park Manor, the most trusted retirement community in Nashville, TN. “Our goal is to ensure a worry-free retirement lifestyle so you can enjoy these years to the fullest.”

 

The Difference Between “One-Time” and “Monthly” Costs

If you or a loved one have been looking into senior living, you’ve probably quickly noticed that no two communities use the same pricing models. If they did, it would make comparing apples to apples a whole lot easier. Since each community has their own fee structure, comparing true costs can be confusing. One community may charge a large one-time fee but offer a low monthly rent. Another community may provide a low monthly rent but also have “add-on” costs. What’s a senior to do?

Let’s start with the idea of “one-time” versus “monthly” costs. A one-time cost is something that is associated mainly with what we will call “pay-to-play” senior living communities. In short, these communities charge a one-time fee – such as a large upfront entrance fee or a significant deposit – that is used as a type of insurance. At a Life Plan or Continuing Care Retirement Community (CCRC), the upfront fee is to pre-cover care types and allow you to “buy in” to ownership at the community. There are a variety of different one-time costs, like community fees, transfer fees, pet fees and such.

Monthly fees, on the other hand, are fees that are paid monthly (obviously). Consider it your “rent” for living in the community. (It’s important to note that even CCRCs charge a monthly rent above and beyond the exorbitant one-time buy-in fee.) A monthly fee generally is comprised of three things:

  • Your rent
  • Your care cost and management
  • Additional costs
     

Rent. Rent costs vary from community to community, and the services included can also vary. Most senior living communities cover housing, utilities, maintenance, housekeeping, dining and community amenities and activities. It can also include additional services like transportation, concierge services and more.

Care cost. Some communities will charge for care services, which are added to their monthly rent costs. Often, a resident can choose from different levels of care depending on how much assistance they need. For example, someone only requiring Level 1 care (light assistance) may only pay $500 per month, while someone requiring Level 3 care (significant assistance) may pay upwards of $1,000 per month. Care services are an easy way for communities to cover their costs for caring without nickel-and-diming the residents.

Additional costs. Additional costs can be a little bit of everything: a monthly pet fee, extra housekeeping services and such. It truly depends on the community and what they’re actually including in the “monthly” rent.

 

An All-Inclusive, Easy Approach

“We don’t like to make things more complicated than they have to be,” says Angel. “That’s why Park Manor takes a true all-inclusive approach to our monthly rental fees. You pay one monthly fee for everything you need. That’s it! One monthly fee covers everything you want, need and enjoy for an active, independent lifestyle at our rental community.”

While the monthly rent varies depending on what type of lifestyle you live – Independent or Assisted Living  – you won’t have any hidden surprises. The all-inclusive monthly fee at Park Manor covers:

  • Three-course lunch and dinner served daily in our dining room
  • Daily activities, programs and outings
  • Housekeeping every other week
  • Basic home maintenance
  • Scheduled transportation
  • 24/7 concierge service
  • Emergency alert system
  • Washer and dryer access
  • Well-stocked library
  • Fitness and wellness center: physical therapy, occupational therapy, massages, and a fitness maintenance program
  • In-house television station
  • Nursing services, including medication management and distribution (assisted living residents)
  • Wellness checks, blood pressure monitoring or diabetes management as needed (assisted living residents)
  • Assistance with activities of daily living (assisted living residents)
  • 24/7 memory care services (memory care residents)

“We truly want you to love where you live during your retirement, and that’s exactly what you’ll find at Park Manor” says Angel. “Our all-inclusive approach, monthly fee structure and vibrant lifestyle are why Nashville seniors have chosen us as their premier retirement community for more than 50 years.”

If you have more questions about our all-inclusive monthly fee schedule, please contact us at 615.277.1107.

 

Love Where You Live!

Have you ever asked yourself the question, “Do I love where I live?” If you ask that question of the residents of Park Manor, Nashville’s premier retirement community, the answer would be a resounding, “Yes!” For over 50 years, Park Manor has served Nashville’s seniors by providing a community designed to support an active, independent, secure, healthy and worry-free lifestyle.  Located on seven spacious acres in the desirable Nashville neighborhood Belle Meade, we’re proud to provide a lifestyle our residents love each and every day.

Park Manor’s approach to senior living is simple: exceed our residents’ expectations. We strive to provide everything you could possibly need and want to live your life the way you choose. At Park Manor, you will enjoy a standard of living reminiscent of a luxury resort – but it’s not a vacation – it’s your lifestyle! This commitment is why we are held in such high regard by our surrounding community and are known as the premier retirement community offering independent living and assisted living lifestyles.

For seniors requiring memory care, Park Manor is associated with the prestigious Abe’s Garden® Memory Care Center of Excellence. Abe’s Garden® is committed to transforming the care of those with Alzheimer’s disease and dementia by establishing a national model of residential living and day care programs for those suffering from the disease. Abe’s Garden® provides an unprecedented level of care in addition to a comprehensive array of services and lifestyle options.

At Park Manor, your continued independence is our top priority. Enjoy living life as you choose ... in the comfort and privacy of your own apartment, while having the peace of mind of knowing help is available if and when you need it.

 

For more information, please call 615.277.1107.