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Frequently Asked Questions about Independent Living

What is a life lease?

A life lease agreement is a form of a right-of-occupancy contract. The cost of a lease is a one-time entrance fee and an ongoing monthly service fee. Oakwood's life lease agreement specifies that 90% of the original apartment home price will be returned to the resident or their estate when they move out of Oakwood and their apartment home has been re-leased.

What age is the right age to move in?

Oakwood Village is a 55+ community. We have a wide age range of residents in our apartment homes, but we encourage residents to move in while they're active and able to take advantage of the many amenities and opportunities that are offered.

Do I need to be Lutheran to live at Oakwood?

Oakwood is a Lutheran-based community, but residents do not need to be of the Lutheran faith, or any faith to live here. We are Lutheran at our roots and inclusive in our nature. Our Mission Statement, Vision and Values are consistent with the Lutheran church, and our sponsoring congregations elect our parent board members and guide our operational philosophies, which include serving a diverse population of older adults.

I see that Oakwood is a non-profit. What does that mean?

Oakwood is governed by a local Board of Directors and sponsored by 37 Lutheran churches. No person or entity "owns" Oakwood. Any revenue we are able to generate from operations gets reinvested into our community to improve our programming, facilities and to hire and retain quality staff, not distributed to shareholders.

What age is the right age to move in?

Oakwood Village is a 55+ community. We have a wide age range of residents in our apartment homes, but we encourage residents to move in while they're active and able to take advantage of the many amenities and opportunities that are offered.