Life Lease suites offer the benefits of living in an independent apartment while at the same time giving you the opportunity to invest in your accommodation.

Much like a condominium, you purchase the right to live in your suite for as long as you want (up to 49 years). What is different is that buyers must reside in their suites and may not sublet. That way, the original aim of providing a secure, comfortable and worry-free environment for seniors can be protected. Over time, your investment follows real estate market trends. 

Living in your life lease suite, you will experience a new freedom in a secure lifestyle. Whether at home or away, your peace of mind is assured in a controlled-entry building. Also, you don't need to worry about upkeep or exterior maintenance. For your suite, all mechanical and plumbing maintenance is included. 

Along with your new carefree lifestyle comes the opportunity to join a vibrant community. Residents are welcome to enjoy the shared social spaces, including the exercise room and chapel. A variety of organized activities are offered through the Ellridge Social Club, such as Bridge, Cribbage, and Euchre clubs, as well as resident-led social gatherings and monthly parties. In addition, the Elliott Community offers professionally organized events and outings that residents may choose to participate in (some incur a nominal fee).

While retaining many of the benefits of home ownership, life lease living is generally more economical. Like condominiums, there is a monthly maintenance fee. This fee contributes towards the cost of maintaining the common areas of the building as well as the surrounding grounds and gardens. Also included are Municipal taxes, garbage collection fees and common area fees. Heating costs are included while electricity is individually metered and billed. Each life lease suite has its own temperature control so you can set your suite’s temperature to your liking.

Should you no longer wish (or be able) to occupy your suite and the time comes to re-release it, you will receive a return of 90% of the equity value of your suite priced according to the market trends at the time of release. Upon the death of a sole occupant, this will be paid to your estate. Our Community Sales Supervisor can explain the rights of survivors in the case of joint ownership.

There is no sub-leasing of suites. Management will protect your right to the “quiet enjoyment” of your suite while encouraging participation in community activities on and off-site. On behalf of the residents, a Residents’ Council brings forward issues or concerns. This council is very effective in maintaining a responsive and respectful relationship with our leadership team.

Special Features

  • Security check system in all exterior doors including video camera surveillance
  • Secure, controlled entry to garage and building
  • Individual thermostat-controlled heating and cooling in each suite
  • Luminous ceilings in kitchens
  • Heat lamps in bathrooms
  • Individual hydro meter in each suite
  • Storage available
  • Indoor car wash
  • Softened water except for cold water in kitchen
  • Higher than normal electrical wall outlets to reduce back strain
  • Increased number of electrical wall outlets to reduce hazards of extension cords
  • Fire and smoke detectors in each suite directly connected to the Guelph Fire Department

Shared Facilities

  • Fitness Room
  • Atrium and Cafe
  • Hobby shop
  • Hair Salon
  • General Store

Other Site Amenities

  • Situated on 7.5 acres with a park-like setting
  • Offers scenic walks, landscaped gardens and patio areas
  • Close to shopping, hospital, churches, banks

Resident Fees

Life Lease Extra Fees 2026

Eligibility Requirements

All life-lease owner/occupants must be capable of independent living as well as be free of communicable diseases, as evidenced by a physician's written statement.  For couples, at least one owner/occupant must be at least 55 years old.