Life Lease Program (For Seniors)

Eligibility

Individuals and couples are eligible if they: - are near age 55 or older - are able to live independently with or without supports from family, the community, or government agencies - have annual gross incomes and assets below the program limits - are legally allowed to be in Canada and not foreign visitors. Program Limits/Maximums - Singles - $58,000 - Couples - $73,100 - Household Assets - $415,000

Documents Required

Proof of income.

Fees

Life Lease deposits range from $60,000 to $135,000, depending on the community and the size of the home. The deposit is fully guaranteed by Saskatchewan Housing Corporation and returned (less any outstanding fees) when the Life Lease ends.

Approved applicants must provide an initial $1,000 deposit to secure a unit, and then pay the remaining deposit in full within 30 days or before they occupy the unit.

The monthly occupancy fee covers a share of the operating and maintenance costs of the building including heat, water, property taxes, and administration. The fees are comparable to (and often lower than) the rent for similar housing in the community.