Do residents pay an exit fee when they permanently leave their unit Sample Clauses

Do residents pay an exit fee when they permanently leave their unit. If yes: list all exit fee options that may apply to new contracts ☐ Yes – all residents pay an exit fee calculated using the same formula ☐ Yes – all new residents pay an exit fee but the way this is worked out may vary depending on each resident’s residence contract ☒ No exit fee ☐ Other …………………………………………………………… Time period from date of occupation of unit to the date the resident ceases to reside in the unit Exit fee calculation based on 1 year …………% of your ingoing contribution 2 years …………% of your ingoing contribution 5 years …………% of your ingoing contribution 10 years …………% of your ingoing contribution Note: if the period of occupation is not a whole number of years, the exit fee will be worked out on a daily basis. The maximum (or capped) exit fee is % of the ingoing contribution [or insert different basis] after [insert number] years of residence. The minimum exit fee is ………………………………………………………………………………