Hope everyone is well.
Before we get started, I want to update you on the survey. So far, over 130 people have taken the Inside Assisted Living – Family Attitudes and Preparedness Survey since we announced it on Thursday, August 7. Thank you! We’re hoping to get a few hundred in the next 30 days.
Now on to the purpose for the post…
What is a Residency Agreement?
One of the most daunting tasks of a transition to assisted living is the signing of the residency agreement. Similar to a rental agreement or lease on an apartment, the residency agreement governs cost, services and termination options for your loved one’s stay in assisted living.
It always struck me as odd how little families pay attention to these agreements. We spend hours test driving cars or strolling through the mall, but oddly, very few people read these agreements in detail. And even fewer take them to an attorney for review.
But I guess it’s not so hard to understand, since many of them can run 20+ pages.
At Least a Five-Part Series
I’d like to dedicate a series of posts to help you better understand a typical residency agreement. My goal is not to drown you in legalese (legal speak for 25 pages of run-on sentence separated by commas), but rather to educate you on their core components and things to avoid.