Life expectancy amongst seniors has been rising over the past few years.

Ministry of Technology Innovation and Citizens Services. (2017, August 31). Vital Statistics. Retrieved September 26, 2017, from http://www2.gov.bc.ca/gov/content/data/statistics/people-population-community/population/vital-statistics

The elderly are living longer which is changing the way they live and especially where they live. Life leasing provides people from ages 50-55 and above the ability to lease apartments in a community-based area. Clients can downsize and lease at a fixed price protecting them in the long run while letting the value of the real estate to increase until they are ready to sell providing them with a profit. Living in a life leased property you get a sense of community, access to social and recreational facilities and less maintenance responsibility. They are a transition between owning a house and living in a retirement home.

CBC News recently reported on the “retirement ‘theme park’ for active boomers” highlighting the new Zest Community, St.Elizabeth Mills. The Zest Life provides life leasing. Their properties are equipped with recreational activities, amenities, entertainment and retail for retires in Ontario, Canada. This modern company believes that age is mental state and by living an active and healthy lifestyle you can remain young at heart.

Ontario appears to house a majority of these life leasing companies. Zest Communities currently manages one hundred and forty life lease communities in Ontario. Yet, when you move west to British Columbia life leasing is hard to find. There are many retirement homes but none that cater to seniors who crave independence and financial stability.

With the rising uncertainty in the Vancouver Real Estate Market, the cost of living on the west coast is obscured.  A wealth gap is separating the rich from the poor. There are many emerging wealthy seniors thanks to the rise in the value of their property according to B.C. Care Association. But, there are also elderly on the streets who can’t afford to pay rent causing approximately two hundred seniors to live on the streets in Vancouver. Homeowners are also struggling to pay property tax on their homes. This urgent issue needs to be taken care of immediately!

Life leasing secures living costs while potentially gaining a return on your investment. There is a real market for life leased properties in Vancouver and the sooner they arise the more clients you can gain before it’s too late.

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