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The Advantages of All-Inclusive Rental Retirement Living for Seniors

Aug 25, 2021

When you think of your retirement, you’re probably, like most people, envisioning relaxing and spending time in your beloved home that you own mortgage-free. In fact, an AARP survey found that more than 75% of adults aged 50 and older want to remain in their much-loved homes as they age.

But is home really the best place to live your best life?

According to Patty Duran, Executive Director of The Contemporary, renting in retirement – specifically renting in a family-friendly, wellness-focused retirement community – could be a solution you’ve never considered.

“Of course, there are obvious benefits to owning your home outright in retirement,” says Patty “However, as you age, your current home may not be the best choice for your needs. And while you could downsize and move to a smaller space, you would still have to manage home maintenance, lawn care, meal planning, cooking and unexpected expenses. When you rent in an independent living community like The Contemporary, not only are all these expenses included in the monthly rent, so are an array of amenities and services, as well as an active lifestyle that’s filled with countless social opportunities and ways to keep you healthy, connected and engaged.”

“Think of it like this,” says Patty “renting at The Contemporary means you are investing in maintaining your independence and in enhancing your overall quality of life.”

Rental independent living at The Contemporary, says Patty provides a world of convenience. “With us, you have none of the headaches of home ownership. You have access to all the equity you accrued in your home (which can be reinvested into the market or used to enjoy your retirement), and you no longer must pay for home insurance, property taxes and most utilities.”

“While renting does mean that you have a monthly rent bill, at independent living communities like The Contemporary, it’s an all-inclusive bill,” says Patty “You won’t have to worry about paying for utilities, home upkeep, meals or anything else except the things you want to spend money on. Many seniors find that renting actually ends up costing less than owning their home – and it most definitely is a lot less work.”

The Advantages of Rental Senior Living

Estate planning is easier.
Most experts agree that renting versus owning makes estate planning easier for seniors. Real estate ownership can make things complicated, and it also ties up much of your net worth in non-liquid assets. Selling a home can be stressful for your heirs, too. By selling your home and choosing to rent in a senior living community, you not only free up a large amount of cash, but you also can help avoid a headache for your family in the future.

Your social life is elevated.
Perhaps the biggest and best reason seniors choose to move into an independent senior living community is the lifestyle. Most seniors end up downsizing because senior living apartments are smaller than their family homes, but many find that once they move, they end up “upsizing” their lifestyle because of all the benefits of community life.

Renting offers flexibility and freedom. You get time back to do what you want to do – not the things you have to do. Forget social isolation and loneliness. At The Contemporary, there are a host of daily social opportunities and a robust activity schedule offering countless ways to connect with new friends and family.

It provides friendship and builds community.
At The Contemporary, you’ll be surrounded by people in the same stage of life who share your interests and values. “With us, there will be many ways to nurture minds, bodies and spirits and have fun and make friends at the same time,” says Patty “Get in on a friendly game of dominos. Relax and unwind with new friends over afternoon coffee. Try an art class. Go shopping or out to eat in Westchester. And that’s just the beginning. At The Contemporary, there is so much to do, so many people to experience it with, and when we open next year, you’ll be able to do it all!”

Independence is enhanced.
At rental senior living communities, you also have access to onsite amenities and services that nurture independence and promote healthy living. Do you have a personal chef who prepares three healthy, delicious meals a day or an activities director who creates a social calendar filled with fun, engaging events? What about an in-home fitness center staffed by professionals and high-quality exercise equipment? You will at The Contemporary … without having to pay an extra fee.

Successful aging is promoted.
Independent rental communities, like The Contemporary, are designed to specifically meet the needs of seniors. At The Contemporary, you’ll have easy access to MedSquare Place, the only Class “A” Medical Office Building in the Westchester neighborhood. When open, MedSquare Place will house a variety of specialty physician offices – and they are just steps away from The Contemporary!

For more information about life at The Contemporary or to learn more about Club Uno – our founders club – please contact us at 305.414.2904.

Welcome to the New Standard in Senior Living

Opening in early 2022, The Contemporary is independent living – at its finest – for modern seniors in the Miami, FL, community. Managed by Charter Senior Living, a national senior living organization known for creating engaging, innovative programs, lifestyles and a culture that enhances the human spirit, The Contemporary is taking senior living to new heights with its exceptional luxury lifestyle, thoughtful design and a groundbreaking partnership with MedSquare Place, a Class “A” Medical Office Building that contains best-in-class medical care comparable to what can be found at Baptist Hospital.

From the moment you move in, you’ll discover sophisticated amenities, convenient services and an engaging, worry-free lifestyle. You’ll discover countless opportunities to learn, grow – and live well, really well. Our holistic approach incorporates the eight dimensions of wellness: emotional/mental, environmental, financial, intellectual, occupational, physical, social and spiritual wellness. Whether you are interested in yoga, gardening, mentoring a student, learning a new language, exploring the nearby botanical gardens, or even attending a class, you’ll have the opportunity to pursue your interests and passions.

Our thoughtfully designed one- and two-bedroom apartment options reinforce the ambiance of privacy, luxury and tranquility. Spacious bedrooms, designer kitchens, ample storage space, spa-inspired bathrooms and open living spaces combine to create a unique contemporary retreat within the ease of a maintenance-free apartment. And because our apartments meet assisted living standards, at-home supportive services can be safely provided in the comfort of your apartment should they be needed.

Life at The Contemporary is designed to fit your personal style and interests. You choose when to rest and when to play. When, where and what to eat. Most of all, you’ll now have the freedom to focus on the things in life you love – and it’s all included in your monthly rent. Welcome to independent living at its finest. Welcome to The Contemporary.

For more information about life at The Contemporary or to learn more about Club Uno – the proprietary founders club – please contact us at ​305.414.2904.