Other Common Terms Related to Residential Settings for Seniors
Market Rate Rental Housing has no government rental subsidy; thus, the rent levels are determined by the real estate market. Rents will vary depending on the age of the building, the building's location and amenities, size of the individual units, and services included.
Federally-Subsidized Rental Buildings serve eligible low-income people and vary in size and type. Some are privately owned buildings (such as Section 202, 236 or 8 and Rural Housing Section 515 buildings), while public housing buildings are owned by city or county public housing authorities. Some subsidized buildings offer or provide various supportive or home care services, and a few offer a full assisted living program. Some developers and communities use tax credits and local resources, rather than federal subsidies, to provide affordable housing for low-income people.
Campuses with a Continuum of Long-Term Care services generally have a skilled care center, senior housing, home care, adult day program and other services for older adults all on the same campus. A few of these campuses in Minnesota are Continuing Care Retirement Communities in which people pay an entrance fee as well as a monthly fee for a package of services specified in a contract, which includes a residence, services and nursing care when needed. Some Continuing Care Retirement Community (CCRC) contracts only guarantee access to nursing services, while others cover the full cost of future nursing care that the resident may need. This contract and the entry fee is what distinguishes a CCRC from other types of campuses that include a nursing home and senior housing.
Shared Housing is sometimes arranged by a social service agency that matches an older person with a younger person who can help with household chores in exchange for a reduced rent. Shared housing can also describe a person living with relatives or two or more persons sharing a home or apartment (like the Golden Girls TV show).