What is the difference between a rental retirement community and a continuing care retirement community (CCRC)?
A rental retirement community provides a resident with a combination of housing, food and other services in return for a monthly fee. Rental retirement communities offer financial flexibility to older adults. No entrance fee is required, and residents are free to invest their savings as they choose. Residents typically sign a lease for one or more years, depending on the community and circumstances. Most Classic Residence by Hyatt rental retirement communities offer a continuum of care for residents whose needs may change, such as wellness centers and services, on-site assisted living and home health care services. A continuing care retirement community, or CCRC, provides a resident with a combination of housing, food and health care services in return for a monthly fee and, in many cases, an entrance fee. Many CCRCs have on-site care centers that feature assisted living, Alzheimer’s and dementia care, and skilled nursing care for residents whose health care needs may change. Because c
