Corporate/Financial

• Are you not-for-profit or for-profit? Are you affiliated with any other senior communities?
• Who owns the community? Who operates the community? (Often these are different contracts and companies.) Ask for full disclosure of any corporate entity involved with the ownership, operation, and management of the community.
• How long have they owned the community?
• Has the community changed ownership more than two times in the last five years? (Indicates instability and typically a company getting rid of an unprofitable community.)
• Is there any kind of state oversight agency for this community, and if so, what agency? Are there any statutes or regulations you must comply with?
• Is there an administrator or director on-site or on call on the weekends? A receptionist?
• How long has the CEO been in place?
• How long has the CFO been in place?
• Could I speak with them if I wanted to? (Note: Any good community will allow easy access to an in-person meeting with either the CEO or CFO.)
• Is your community financially stable? Or profitable? (Note: If it is a for-profit that is not profitable, it could soon be sold or go into
bankruptcy.)
• How did Covid affect your bottom line?
• Do you have quarterly or annual financial reports you can share with me? (Note: How financially stable are they?)
• Do you have a board of directors? (Note: Only with a not-for-profit.) You can request a list if you feel this would be helpful.
• Are residents assessed any community fees? Even for special projects?
• How often do monthly fees go up? Every year? May I see a history of monthly fee increases?
• For life care only: Do you have your CARF accreditation?

Wait List Questions

These questions apply to any retirement communities, life care communities, or assisted-living communities with a wait list.

• Do you have a wait list?
• Is there a cost or fee?
• Is it refundable for any reason?
• Does it allow “reserving” more than one unit? (Many wait lists allow you to reserve two different units for one deposit.)
• Can anyone make more than one reservation deposit for one to four units?
• Does it get applied to a future down payment, community fee, or monthly fee?
• How long is your wait list?
• Can I request a specific floor or building or view?
• Is there an extra fee or charge of any kind for top-floor or ground floor units? (Note: Top floor often is desirable because of the view, or occasionally higher ceilings; ground floor may be preferred if a parent has a pet or hates the elevator.)
• What is the average length of time it takes to get a particular unit (one bedroom, two bedrooms, top floor, bottom floor, etc.)?
• Should my parents get on the wait list even if they don’t want to move for five years or more?
• What if a unit becomes available that they are wait-listed for and they are not ready? Do they lose their place/order on the wait list?