Life-Time Lease & Monthly Service Fees

Life-Time Lease Agreement

The residents of Village East will enjoy benefits uncommon to home ownership and its usual worries.  A one time prepaid life-time lease covers the entire residency period.  Residents are NOT required to turn their assets or estates over to Village East in order to qualify for residency, now or later.  Village East will provide maintenance-free living for the residences, buildings and grounds allowing you much more time to do the things you?ve looked forward to.

Monthly Service Fee (2017)
(see cost comparison at bottom of this page)

Square Feet One Person Couple
1000-1200 $352.02 $387.22
1201-1500 $387.22 $422.43
1501-1800 $422.43 $457.62
1800-2000 $457.62 $492.02

The monthly service fee includes:

  • Use, cleaning and upkeep of all common facilities.
  • Use of arts and crafts, recreation areas at our community center.
  • Maintenance on buildings and upkeep of grounds.
  • Proportionate cost of insurance.
  • Community taxes on all community facilities.
  • Cost of utilities in common areas.
  • Water, sewer and garbage removal.
  • Security Services.
  • Extended Basic Cable TV.
  • Replacement of amenities as needed.
  • Management and administration.

Village East townhomes will have their own electric meter and each resident will pay their own electricity, telephone and annual taxes on their townhome.

*The monthly service fee is an estimated cost.  Since Village East is a nonprofit, corporation adjustments may be necessary, but service will be kept as low as possible. Currently there will be a 2.5% increase every January 1st of each year.


 

Refund after Termination of Agreement:

Upon termination of the agreement, Village East will make its best efforts to enter into a new Residency Agreement with a new resident for the best cash price obtainable and as soon as reasonably possible. The sale proceeds will be shared by the previous owner and Village East on the following basis:

(i)  2% depreciation per year for the first 5 years not to exceed 10% of the original cost fee retained by Village East and

(ii)  If the townhome should sell above the original cost fee, the appreciated amount will be divided equally between the resident and Village East.


 

Townhome Plans:

  • Pricing starts in the lower $80,000 range.  Homes range in size from 1000sf to 2400sf
  • All town homes are minimum 2-bedroom/2 baths.
  • Standard Features and Options page for further details.

(Prices are subject to change)

Monthly Maintenance Fee

Services Average Cost Village East
Water, sewer & garbage pick up $100 Included
Expanded Cable $50 Included
24 hour monitored emergency system $30 Included
Home Owners' Association Fees (security, street maintenance, common area landscaping and lawn care) $150 Included
Seasonal home maintenance (Qtrly Pest control) $75 Included
Interior & Exterior home repair & maintenance (roof repair, water heater replacement, plumbing issues, garage doors, etc) $100+ Included
Lawn care and landscaping (lawn mowing, fertilization,     weed control, trimming, irrigation, repairs and maintenance.) $150 Included
Homeowners Insurance                                                                                                                             (excluding contents and personal liability) $130 Included
Living at Village East Priceless!  
Total $800 $326-$457*

* Prices Subject To Change