MOVING TO OTTERBEIN

What are the requirements for moving to an Otterbein community?

A completed application must be submitted and approved before a reservation deposit can be made. You must be 55 years of age to reside in an Otterbein community. In the case of a couple, one must be 55 years of age. An advance reservation deposit is required in order to reserve your new home.
Financial resources must be adequate for the accommodations chosen.

You have a choice between four different financial options at Otterbein communities.

1. Monthly Rental Agreement
This payment options allows you enjoy the services, amenities and activities of the community by paying an all-inclusive, once a month fee. Your Residency Agreement renews yearly. If a move to Assisted Living or Nursing is necessary, as a resident of Otterbein you will have priority access at the published rates.

2. Refundable Life Use Fee
Under the Refundable Life Use Fee Agreement (RLUF) you are required to deposit an amount of money, which provides for a reduction in your monthly fee as long as you live at the community. Each accommodation has a maximum allowable RLUF. You may pay this amount or any lesser amount you choose. A percentage (.75%) of the principal amount is returned to you in the form of a credit against each month’s service fee. If you choose to leave the community or pass away before the entire principal has been returned, the remaining principal would be refunded to you or to your estate. If a move to Assisted Living or Nursing Care is necessary you will have priority access to those areas.
The monthly credit will apply in all levels of living for as long as you or your spouse is residing in the community.

3. Option A – Basic Entrance Fee Agreement
Under the Basic Entrance Fee Agreement you are required to pay an entrance fee that is established for the unit you have chosen. Under this option a 20% administration fee is deducted from the entrance fee upon admission. The balance of the entrance fee deposit is refundable up to 50 months. This amount depreciates 2% each month over the 50-month period. This agreement provides a substantially reduced monthly fee for ranch homes, patio homes, and apartments for as long as you live in those areas of the community. If a permanent move to Assisted Living or Nursing Care is necessary as a resident you will have priority access and receive a reduced monthly rate equal to .4% of the Entrance Fee paid.

4. Option B – 80% Refundable Entrance Fee
Under the 80% Refundable Entrance Fee Agreement you are required to pay an entrance fee that is established for the unit you have chosen. Under this option a 20% administration fee is deducted from the entrance fee upon admission. This agreement provides a substantially reduced monthly fee for ranch homes, patio homes and apartments for as long as you live in those areas of the community. Upon leaving the community you or your estate will receive a refund of 80% of the Entrance Fee when your unit is reoccupied. If a move to Assisted Living or Nursing is necessary, as a resident of Otterbein you will have priority access at the published rates.