Spectrum Retirement Communities Frequently Asked Questions
What is the difference between a rental program and entrance fee/buy-in program?
Under a rental agreement the resident typically pays a modest one time Admission or Community Fee of approximately $1,000. They execute a rental agreement that may be month-to-month or for a specified term. Rent is paid monthly and should the resident desire to leave for any reason, they provide 30 days notice and they are free to move and relieved of any and all financial commitments. Spectrum Retirement Communities offers a Month-to-Month Rental arrangement for their Residents.
Under the Buy-In (Entrance Fee) arrangement the resident pays a significant deposit for the right to live in the Community. It is not uncommon for the deposit to be several hundred thousand dollars. The amount also varies depending upon the apartment size selected. The Buy-In affords the senior the right to live within the Community during their lifetime and it may afford them priority access to higher levels of care within the Community, should such services exist. In addition to the Entry Fee Deposit, the resident will be charged monthly fees that, in most cases, are similar in amount to those charged in Monthly Rental Communities.
Typically the deposit (Entry Fee) is paid to the Owner of the Community and is refundable to the resident, only at such time as the owner vacates the unit, the community owner resells the unit and it is occupied by a new resident. The Community Owner handles this process and the senior resident currently occupying the apartment has no control of this process as they have no ownership rights. The senior occupying the unit has a lifetime right to occupy the apartment but has no ownership rights.
What is Spectrum Retirement Communities' 60-Day Money Back Guarantee?
At Spectrum Retirement Communities, we are very serious about our commitment to our Residents. We are confident that after you have experienced our lifestyle, you will want to stay with us for a long time. However, if, for any reason, you are not completely satisfied within the first 60 days of your stay, and wish to cancel your agreement, you shall be entitled to a 100% refund of the monthly rent paid prior to your cancellation.
*Money Back Guarantee does not include deposit or fees for care.
What's included in the monthly fee?
Our monthly fees include all utilities (with the exception of phone), meal allowance for at least 2 -3 meals per day, housekeeping, full maintenance, limousine and bus transportation, fitness and exercise classes along with other innovative activity and wellness programs, resident concierge services, theater, educational and cultural programs, and the security of 24-hour staffing and 24-hour emergency call system.
How can I determine if I or my parent can afford a Spectrum Retirement Community?
First, you should consider the expenses that you or your parent is currently incurring on a monthly basis. This could include rent/mortgage, property tax, home owner's insurance, subdivision or association fees, utilities, lawn care, snow removal, trash removal, home repairs, housekeeping, transportation, exercise classes, groceries, health care, home emergency call systems and any other needs for which you or your parent is currently paying. At a Spectrum Retirement Community, our monthly fees include all of these expenses-along with a priceless peace of mind.
What type of dining options do you offer?
Spectrum Retirement Communities offer a "casual, yet elegant" dining program with an emphasis on quality and service. Our communities offer restaurant-style dining with delicious chef-prepared menu choices, flexibility in dining times and the "At Your Service℠" hospitality you'd find at any fine resort. Additional dining venues are offered at some of our communities, such as our European-style bistro, 1950s Diner and Sky Lounge.
Are Spectrum Retirement Communities pet-friendly?
Yes, we allow small dogs and cats.
Do you have parking?
All of our communities offer Resident and guest parking. Some of our communities also offer garage/carport parking that is available for an additional monthly fee.
How do I know if a retirement community is right for me or my parent?
Any one of our Spectrum Retirement Communities is right when you answer "YES" to any of the following:
- Would you or your parent benefit from more social interaction with other mature adults?
- Would you or your parent benefit from eating meals prepared for you/them and enjoying the company of others at dinner time?
- Would you or your parent benefit from regular exercise in the form of stretching/balance class, aqua therapy, or walking?
- Would you or your parent enjoy participating in outings, crafts, cards, or a specialty club like Book Club, Veteran's Club, or Red Hats Club?
- Would you or your parent benefit from the convenience of having all the details of everyday life-shopping, bills, housekeeping, home care and more-taken care of?
How will I know if I/my parent will fit in and be happy?
Spectrum Retirement Communities' At Your Service® hospitality program will welcome and assure that all new Residents will learn their way around and meet new neighbors right away. The social, friendly environment in our communities encourages residents to make new friends and live full, happy lives. You are welcome to visit a Spectrum Retirement Community near you and attend one of our spectacular community events or daily activities at any time!
*Our services at Spectrum Retirement are provided for seniors 55 years old and older.