Humber/Ontario Real Estate Course 4 Exam Practice

What commonality is shared by residents of both land lease and life lease communities in Ontario?

1. Both arrangements typically include responsibilities for ongoing services like lawn care and garbage removal.

2. Both require adherence to the Residential Tenancies Act.

3. Both models are structured around a land lease format.

4. Both are often backed by non-profit organizations.

5. Both communities are exclusive to retired individuals.

6. Both require an upfront cost that covers a lifetime lease.

The correct answer is: Both arrangements typically include responsibilities for ongoing services like lawn care and garbage removal.

Residents of both land lease and life lease communities typically share the responsibility for ongoing services like lawn care and garbage removal. This commonality can enhance the quality of life within these communities, as the maintenance services provided help keep the environment pleasant and well-kept, ultimately promoting a sense of community among residents. In both types of communities, residents often come together to manage these shared responsibilities, contributing to a communal living experience. While other arrangements may have specific requirements or structures, the cohesive nature of shared services is a hallmark of both land lease and life lease communities. These services help residents to enjoy their homes without the added burden of individual maintenance tasks, fostering a lifestyle that may be especially valued by those who prefer a more manageable living situation.