What is an Equity Lease? (Elm Court and The Concorde only)
An Equity Lease is a rental agreement by which a prospective tenant invests funds with Trillium Village for the term of the occupancy, secured by a promissory note. The funds cover the capital cost portion of the rent. Upon vacating the unit, the tenant (or estate) receives back the entire investment.
The prospective tenant signs a lease that only requires the operating costs and reserve fund portions of the rent to be paid on a monthly basis.
Do I have to sign an Equity Lease and invest funds in order to rent a suite?
No. You have the option to sign either an Equity Lease or a conventional lease that does not require an investment. As well, Tenants do not have to cover the full capital cost of the unit. There is flexibility to invest a partial portion of the capital cost.
The amount invested would determine the financial portion of the rent on a sliding scale; in addition to the operating costs and reserve fund portions of the monthly rent, which all tenants pay.
When is the right time to move to Trillium Village?
The right time is when you wish for maintenance and worry-free living. Perfect for those who love to travel or winter in the south. At Trillium Village you will have a safe, comfortable, convenient location in beautiful, natural surroundings with compatible retired or semi-retired peers.
What health related services are available?
Trillium Village is a community offering independent living for the active senior. Recognizing that some tenants require supports, the VON has a Supportive Housing office on-site. VON personal support workers provide services allowing tenants to remain in their home longer.
Is there clergy on staff?
Trillium Village does not offer ministerial or counseling services. However, our Auditorium is the site for a weekly devotional hour delivered by pastors of the local Strathroy and area churches. Tenants hear an edifying message, sing and enjoy each others company over coffee.
Do tenants participate in the management of Trillium Village?
Trillium Village is owned and operated by the Strathroy & District Christian Retirement Association Inc., a private, non-profit, registered charitable organization offering Christian-based seniors’ housing in Middlesex County. The Association is managed by the Board of Directors, responsible for the governance of Trillium Village.
Tenants have opportunity to participate in the life of Trillium Village by being a member of the Tenant Auxiliary or volunteering in the many activities offered at Trillium Village.