Independent Living Residency Deposit
We want your move to Touchmark to be straightforward and make good financial sense for you. That is why we offer our Residency Deposit Plan to present you with more options.
Residents who choose the deposit option have access to all services and amenities, but at a lower monthly cost. Touchmark provides a 6%, tax-free rate of return on the value of all residency deposits collected. The 6% return is provided in the form of a deposit plan credit. In addition to the 6% monthly return, residents also receive 85% of their original deposit back when a new resident moves in.*
Deposit Plan Example
In this example, the monthly service fee is $5,325.
|Deposit Plan Credit||Amount Due|
|Monthly Service Fee||$5,325|
|Residency Deposit Amount||$500,000|
|Multiplied by Deposit Plan Credit Rate||x 6%|
|Equals Annual Deposit Plan Credit||$30,000|
|Divided by 12 Months||÷ 12|
|Equals Monthly Deposit Plan Credit||$2,500||($2,500)|
|Total Monthly Out-of-pocket Amount Due||$2,825|
Deposit Plan Value Illustration
|Example Deposit Plan Savings Over 7 Years||85% Deposit Plan|
|Annual Deposit Plan Credit||$30,000|
|Multiplied by 7 Years||x 7|
|Equals 7 Year Savings||$210,000|
|Minus Residency Deposit Originally Paid||($500,000)|
|Residency Deposit Refund at 85%*||$425,000|
|Equals Total Overall Savings on 85% Plan||$135,000|
*Refund assumes that replacement residency deposit is not less than 85% of the original deposit made. The source of the deposit refund for the departing resident is the deposit paid by the new resident who will occupy the home. Within 30 days of receipt of the new deposit from the new resident, the departing resident receives 85% of the original deposit amount, not to exceed the deposit paid by the new resident.