Life Leases

Our Life Lease suites are one - and two-bedroom units ranging from 752 to 1,119 sq ft with patio / balcony or sunroom options, in-suite laundry, and in-suite air conditioning.

Life Lease Suite
video Tour

When you purchase a Life Lease, you buy the right to occupy the unit for as long as you live in the suite.

The suite always remains the property of Shalem and the Resident ‘sells’ the life lease back to Shalem for reimbursement upon termination of the lease.

Stability

A Life Lease provides financial stability by preserving your equity. Monthly fees cover maintenance and operational costs.

Life Lease Gallery

How it Works

Shalem’s determines the purchase price of its Life Leases based on current market analysis and are priced at a $/sq ft. This purchase price is called an ‘Entrance Fee’.

Deposit

Residents sign a Life Lease Agreement and provide a deposit of 10% of the Entrance Fee to hold the suite.

Terms and Conditions

The Life Lease Agreement established the terms and conditions of the Life Lease including

  • The collection, use and return of entrance fees, including the timing of and conditions for return;
  • cancellation rights, including a minimum 10-day cancellation period after a life lease has been signed, notice requirements for cancellation, and conditions respecting cancellation,
  • termination rights, including notice requirements and conditions respecting termination;
  • occupancy fees, including conditions for fee increases, notice requirements for fee increases, allowable frequency of increases; and
  • life lease operator and life leaseholder obligations.

Final Payment

Prior to taking possession of the unit, residents must pay the remaining 90% of the purchase price.

Additional fees

Prior to taking possession of the unit, residents must pay the remaining 90% of the purchase price.

  • Monthly Operational Fee:
    Monthly operational fees include property taxes, heat and water, building and grounds maintenance, shared space insurance and the continued growth of the Reserve Fund to facilitate the ongoing revitalization of Shalem.
  • Resident Responsibilities:
    Resident ResponsibilitiesResidents are responsible for electricity, phone/cable/internet, and tenancy insurance as well as a health care program fee.
  • Optional FeesAdditional:
    Optional FeesAdditional optional costs include underground parking, storage locker, dining services.

Life Lease Reimbursement

Upon termination of the agreement, Life Leases have the following reimbursement values:

  • 0 < 5 Years Tenancy: 90% Reimbursement Value (less 10% returned)
  • 5 < 10 Years Tenancy: 87.5% Reimbursement Value (less 12.5% returned)
  • > 10 Years Tenancy: 85% Reimbursement Value (less 15% returned)
“My favourite part about Shalem is the community. I enjoy the coffee times, happy hour, bus trips and so much more.

It’s a wonderful place to live!”

Judy

Resident

FAQs

Please contact us if there are still any questions unanswered.

Contact us
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What types of living arrangements are available?

We offer a variety of living arrangements, including supportive living, independent living and affordable subsidized housing.

What health services are provided on-site?

We have an on-site Nurse and Health Care Aides that service the residents in all buildings (Please refer to the Health Support Program for more information on medical services).

Are there fitness and wellness programs available?

Yes, we offer a range of wellness programs including daily fitness classes, health and wellness clinics, yoga, walking groups and a fitness room with age-appropriate gym equipment.

What dining options are available?

Our Dining Room prepares three nutritious meals a day which are included in the monthly rent of a studio suite. Residents in the one- and two-bedroom suites can access meals in the Dining Room as desired for an additional cost.

What types of events and activities are offered?

We offer a variety of activities including arts and crafts, music, hymn singing, socials, happy hour, monthly resident birthday parties, cards and games, bingo, bible study group, chapel, brain teasers and more.

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Discover a community where seniors are celebrated!

Experience the warmth and companionship of Shalem, a Christian senior home in Calgary. Our dedicated team genuinely cares about the well-being of our residents, providing a supportive and enriching environment.

Call Us (403) 240 2800
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