Senior Facilities Can Raise Their Costs Just Like An Apartment So Be Prepared
Updated: Sep 23, 2019
One thing that people often do not think about when looking for senior care facilities is that the prices can go up once you move in just like any other apartment or rental property. Because the prices are so high and we tend to think we are making a long term deal, that deal is only for now so make sure you ask how long that rate will be good for your loved one. The facilities have language in the contract that allow them to raise the rent and costs for additional services. They can also make residents pay an assessment if a need for the facility arises that is a large expense. For example a new roof or other unexpected large expense.
Facilities must give you 60 days notice of rate increases so that you have time to prepare or find alternate living arrangements. Remember to consider this when you choose a place and you should also ask many questions about the specifics during your tour. Make sure to ask how they inform residents about an increase and what your options are. Often times a resident can move to a smaller room to save some money. You can also talk to the executive director about your specific situation and you can always try and negotiate.
The fees for other services can also go up based on an individuals needs. For my mom in particular they raised all the rates for her individual services about 4 months ago. However, the apartment itself did not go up yet but it is anticipated that it will before the end of the year. So make sure to ask as many questions as you can about this possibility and be mindful as you budget for the present with the future in mind.