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Financial Options

Financial Options

There are a variety of contracts that will suit many financial situations.

A Montgomery Place retirement counselor will be happy to assist you in determining which plan best meets your individual needs. The financial options include three refundable entrance fee plans and a rental plan on selected apartments. Details on each option follow:

90% Refundable Entrance Fee Plan
With this plan, the entrance fee and monthly fees are significantly lower than the rental rates. The refundable portion of the entrance fee declines by 2% per month for five months, at which time it becomes 90% refundable. Thereafter, when you leave the community and your apartment is reoccupied, you or your estate will receive a refund of 90% of the entrance fee amount. Those who choose this option receive fully renovated apartments, including a host of upgrades, a washer and dryer, options for preferred finishes, colors and other very personalized enhancements. With this option, there’s a combined household discount of 10% off the monthly service fee if residents permanently move to the Catered Living Pavilion or the Health Care Pavilion. Retirement counselors can provide full details on this plan.

50% Refundable Entrance Fee Plan
With this plan, the entrance fee and monthly fees are significantly lower than the rental rates. When you leave the community and your apartment is reoccupied, you or your estate will receive a refund of 50% of the entrance fee amount.Those who choose this option receive fully renovated apartments, including a host of upgrades, a washer and dryer, options for preferred finishes, colors and other very personalized enhancements.

With this option, there’s a combined household discount of 10% off the monthly service fee if residents permanently move to the Catered Living Pavilion or the Health Care Pavilion. Retirement counselors can provide full details on this plan.

Rental Plan
Depending on the apartment selected, you may also be able to choose the rental option. This plan requires a security deposit and does not offer discounted rates on services in our Catered Living Pavilion or Health Care Pavilion; however, there is no entrance fee required, and residents benefit from every service and amenity offered at Montgomery Place.

For more information, call us at (773) 753-4582 or complete the request form.

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