Provincial government releases Life Lease Housing Guide

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Ontario Construction News staff writer

The province released a Life Lease Housing Guide at a news conference in Barrie on Tuesday – suggesting seniors consider the option as a more affordable alternative to condominiums.

“Life leases are a type of affordable housing,” said Steve Clark, Minister of Municipal Affairs and Housing. “Having more life lease options are good for seniors and good for communities.”

Clark says creating the guide will encourage more non-profits to offer life leases as a housing option that includes senior-focused services, social programs and a sense of community.

The guide contains practical information to help people decide if a life lease is right for them.

Clark was joined at the news conference by Raymond Cho, Minister of Seniors and Accessibility, Andrea Khanjin, MPP for Barrie-Innisfil and Jeff Lehman, Mayor of Barrie.

Tollendale Village in south Barrie hosted the news conference, as Clark pointed out many seniors living there have chosen life lease housing.

“I commend the Government of Ontario for developing this comprehensive, practical guide to life lease housing,” said Lehman. “A life lease is a great housing option for seniors–it is affordable and provides a great sense of community. The guide will make it easier for people to make decisions on different housing options at a time when Canadian society is aging, making it easier to find good housing options is an important priority.”

  • In life lease housing, the buyer purchases an interest in the property, which gives the buyer the right to occupy a unit for a long period of time, often for their lifetime.
  • If the life lease holder passes away, their inheritor may inherit the life lease interest, but not the right to occupy the unit. The inheritor may benefit from the sale of the life lease, but cannot automatically move into the home.

“Our government’s housing supply action plan, More Homes, More Choice, is all about helping people find a home that meets their needs and their budget,” Clark said.

Ontario has life lease communities across the province, run by non-profit and charitable organizations, as well as private sector providers.

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