Health

4 Things to Know About an Entrance Deposit Model

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Walker Blog Headers (4)At Walker Methodist Place, we offer not only a unique, vibrant community but also a unique pricing model.

You may have heard of a “senior living entrance deposit model” — and you may have seen the costs and experienced some initial sticker shock. But when you understand how the model works, you might find the price is just right.

What is an entrance deposit model?

At Walker Place, we use an entrance deposit model to help residents save money. Similar to a down payment on a house, the deposit is paid when a resident moves in to decrease the cost of monthly rent. But there are additional benefits to paying a deposit model when you move into a senior living community.

Here are four to know about our entrance deposit model:

1. It’s 100% refundable

When you decide to make Walker Place your home, you pay a one-time entrance deposit. This deposit is always 100% refundable. When your apartment is re-rented, the deposit is returned in full to you or your family.

2. It Reduces your Monthly rent

While the entrance deposit model means a larger deposit upfront, you actually end up saving big on rent each month. On average, rent with an entrance deposit model is approximately 20 percent less than other senior living options in the South Minneapolis area. That could be $1,500 in savings each month, or $18,000 annually.

3. It Contributes to Community AMENITIES AND Improvements

Our community features a state-of-the-art fitness center, chef-prepared meals and multiple dining options, housekeeping services, and a variety of activities and programs — all of which are made possible because of the investment that each resident makes into the community. We also use deposit funds to conduct capital improvements within our building, directly benefiting anyone who lives at Walker Place.

4. It Can Be Used for Care

Walker Place is a tight-knit community in a great location featuring gorgeous, spacious apartment homes. We also offer all levels of care, including:

  • Independent Living
  • Assisted Living
  • Respite Care
  • Transitional Care, Memory Care, and Long-term Care through our Health Center located next door

Because services can be added later — should you ever need them — you don’t have to move to another senior living community to get excellent care. As a result, your entrance deposit gives you something you can’t put a price tag on: the peace of mind that you’ll never need to leave our community if your health needs change.

Is an entrance deposit model right for you?

Living at Walker Methodist Place is a long-term investment in living your fullest life. Nestled in the charming East Harriet neighborhood of Minneapolis, we offer high-end senior living (and exceptional care) in a location you know and love.

The entrance deposit model is just one of many different payment options available at Walker Methodist communities. If you think Walker Place sounds like a good fit for you or a loved one, please call (612) 827-8508 to learn more. Or, take a look at our other communities in the metro area and Wisconsin.

Retirement? More like home. Learn more about Walker Methodist Place.

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