An amount payable by the resident at the inception of a residency agreement. The advance fee is usually specified in the residency agreement and is usually payable prior to the resident assuming occupancy of a living unit (sometimes referred to as an entrance fee, endowment fee, entry fee, or founder’s fee). (ASOP No. 3)
CreativeMinds WordPress Plugin ASB Glossary
Print Friendly, PDF & Email
LinkedInTwitterFacebookMore...