Mountain Vista residents pay a Monthly Service Fee* based on apartment size, and whether the resident chooses to lease the apartment or to invest in a membership. Membership, either full or partial, reduces the Monthly Service Fee, saving thousands of dollars each year.
Here’s how it works:
Depending on apartment size, if you choose to lease**, you pay the amount in the Lease row of the table below.
Membership reduces your Monthly Service Fee dramatically and is more economical than leasing over the years. Depending on the apartment, partial membership starts at $10,000; full membership ranges from $75,000 to $115,000. At full membership, your MSF is only $440 per month.
Monthly Service Fee
Many retirement communities require an investment that is not returnable. However, we offer reimbursement on two different prorated scales for partial and full membership.
If a member leaves Mountain Vista for any reason***, full membership draws and reimbursement is as follows:
|Year 1: 95%||Year 5: 55%||Year 8: 25%|
|Year 2: 85%||Year 6: 45%||Year 9: 15%|
|Year 3: 75%||Year 7: 35%||Year 10: 5%|
|Year 4: 65%|
If a member leaves Mountain Vista for any reason***, partial membership draws and reimbursement (starting at $25,000 and up) is as follows:
|Year 1: 90%||Year 4: 60%||Year 7: 30%|
|Year 2: 80%||Year 5: 50%||Year 8: 20%|
|Year 3: 70%||Year 6: 40%||Year 9: 10%|
After ten years, Partial Membership and Lease Monthly Service Fees may be adjusted down at Mountain Vista’s discretion. Membership draws towards operating and reserve costs occur yearly on the move-in anniversary date. If departure occurs within the 10 year reimbursement period, after the first year the last draw is prorated based on the date of departure.
Advantages of Membership Over Leasing
Example #1: A new resident selects Apartment 1A and invests in a partial membership of $45,000. Her monthly service fee is $825. After five years, she decides to move to a nursing home. Fifty percent of her partial membership ($22,500) is returned to her. During those five years, her total cost was $72,000. Had she leased the apartment from the beginning, her total cost would have been $99,000. By investing in a partial membership, she saved $27,000.
Example #2: A couple selects Apartment 2B and invests in a partial membership of $65,000. Their monthly service fee is $715. After three years, one spouse passes away and the other moves to a nursing home. The surviving spouse is reimbursed 70% of their initial investment, or $45,500. During those three years, their total cost was $45,240. Had they leased the apartment from the beginning, their total cost would have been $63,360. By investing in a partial membership, they saved $18,120.
Example #3: A new resident selects Apartment 1B and invests in a full membership for this apartment: $75,000, making his monthly service fee the minimal: $440. After eight years, he moves to his daughter’s home. Twenty-five percent of his full membership ($18,750) is returned to him. During those eight years, his total cost was $98,490. Had he leased the apartment from the beginning, his total cost would have been $147,840. By investing in a full membership, he saved $49,350.
After ten years of occupancy by a resident, Monthly Service Fees may be reduced at Mountain Vista’s discretion.
*The Monthly Service Fee includes your apartment, all Mountain Vista services, activities and amenities (link to services/amenities page). Due to their individual nature the following services are each resident’s responsibility: phone; internet; natural gas and electricity for central heat & A/C; personal property/liability insurance; meals ordered; salon services; and podiatry & therapy fees (Medicare/insurance). Sixty (60) days notice will be given if the Monthly Service Fees requires adjustment.
**Lease requires $2,000 Security Deposit, no prorating and 30 day notice upon departure.
***Move-out Expenses: The departing resident is responsible for “White Glove” cleaning, painting, damages and excessive wear costs required to restore the residence. These costs will be deducted from the Security Deposit or Membership Balance. The corporation will replace appliances, carpet, window coverings, etc., unless premature replacement is required due to damage, excessive wear, stains, pets and/or smoking. If costs exceed the Security Deposit or Membership balance, or the Membership has depreciated out, the resident will be responsible for these additional costs.