Life Lease: How does it work?

Olympic Village at Sun Prairie is a life lease community. A life lease (not a purchase) buys the right to live in one of our homes and pay low monthly service fees. At the end of the lease, 85% of your initial investment will be refunded.

Your new home will be transferred to you as a life lease. You are not purchasing the home but instead buying the right to live in the home for as long as you wish. The life lease fee, which equals the full market value of the unit, is paid in full at the time of closing.


Each month, you will pay a monthly service fee that covers maintenance, lawn care, snow removal and a municipal fee.


When you are ready to move from your home, you provide us with a written notice, according to your contract. Your monthly service fees end at the termination of the leasing agreement.


From there, our Marketing and Renovation teams spring into action to spruce up the home for its next lessor.


When a new family reserves and closes on the home, we refund 85% of your initial investment.

In addition to your life lease fee, here’s what you’ll pay:

  • ·Monthly service fee (covers maintenance, facility fund fee and municipal fee)
  • Utilities (heat, electricity)
  • Water and sewer
  • Phone service, cable TV, internet
  • Renter’s insurance

The following expenses are already included!

  • General insurance on the living unit
  • Maintenance of interior and exterior, including furnished appliances and mechanicals
  • Lawn care and snow removal
  • Water softener salt for your unit
  • Common area utilities

PLUS residents are not responsible for property taxes!