1. Location | Trinity Ravine Towers—Markham RD & Hwy 401 close to McCowan Station, Scarborough Town Center and Woburn Park. |
2. Amenities | Outdoor Rooftop Terrace providing wonderful view, Wellness/Fitness center, Games as well as Hobby rooms, Garden / Walking paths and much more. |
3. Community | Welcoming, Warm and Diverse community. There are workshops, entertainment, and volunteer opportunities for all at the residences to enjoy. Trinity Ravine Towers is run by Global Kingdom Communities. |
1 Bedroom and 1bedroom + den | $ 5,000 |
2 Bedroom | $ 7.000 |
2 Bedroom + den and bigger | $10,000 |
a.) |
The tenant becomes a resident in a development in which the landlord genuinely cares about the welfare of the tenants, and the project is run on a not-for-profit basis. |
b.) |
The tenants find that they are part of a community of like minded people with common interests, and common activities, with people of their own age. |
c.) |
The rent is reasonable and their financial contribution (the entrance fee) is safe from the vagaries of the investment market. |
d.) |
Additional financial contributions by tenants (second security fund) are pooled and are used to reduce rent payable by those tenants (prorated based on contributions). |
a.) |
There is always the danger that the people in the sponsoring organization (whose members usually make up the majority of the board of directors of the Life Lease Corporation) will grow old and tired, and it will be difficult to find replacements. That can create an “unholy mess”. |
b.) |
There can be delays in obtaining the return of the tenant’s refund of the entrance fee – because there are too few replacement tenants. Most Life Lease projects cannot support a mass exodus of tenants. Not enough monies set aside in the refund fund. |
c.) |
In good economic times, an investment in a privately owned home or a condo has the expectation of a capital gain on the investment, which is usually not available under a Life Lease. |