Residents can acquire a licence to occupy the home by entering into a Licence to Occupy Agreement (the Agreement), which facilitates an interest free loan and security of tenure under the Retirement Villages Act 1999 (Qld) (the Act). This also means that there is no title registration fee, GST, stamp duty, or council rates payable. Security of tenure is guaranteed as long as you reside in the home.

The Act also ensures:

• There is a ‘cooling off’ period during the contract process
• There are restrictions on varying the weekly payment amounts
• There are limits on your obligation to pay for ongoing fees after you leave the complex
• You have rights in regard to payment of your exit entitlement.

The cooling off period gives a minimum period of 21 days for prospective purchasers to review the relevant documents before signing the Agreement. We recommend that you review the documents with your solicitor or financial advisor.

A deferred management fee (DMF) is also known as an exit or departure fee, and is payable when you permanently exit your apartment. The DMF provides you with the right to live in the apartment and enjoy the amenities of the complex, and is calculated as a part of the entry payment. This provides some flexibility with annual payments.

Weekly charges are required for the administration, upkeep, insurance, and maintenance of amenities and facilities. The general services charge pays for management, administration, and cleaning (for the complex common areas) staff, day to day maintenance of gardens and common areas, and council charges and rates. A maintenance reserve fund contribution is required to maintain and repair the common areas of the village, and includes pest control. Our staff will be on hand to assist residents with completing the paperwork for these charges, and to answer any questions or concerns. Residents will, of course, be responsible for the costs of electricity to their own apartments.

Generally, the only increase will be in accordance with CPI increases.

While the complex has comprehensive insurance over all buildings and communal facilities and amenities, residents will be responsible for their own home contents and vehicle insurance. While fair wear and tear of homes is expected, any accident or deliberate damage to the apartment will be the resident’s responsibility. An entry report for each unit is undertaken before a resident moves in.

Our lifestyle apartments are designed and built to ensure safe and comfortable living conditions for older (over 65) residents, and they have wheelchair accessibility. Of course we want residents to enjoy their own home and to put their own ‘stamp’ on it with personal style and decorating, and we would be happy to consider any reasonable modifications and/or structural changes. However, if approved and carried out, we reserve the right to request reinstatement to the original condition and layout of the apartment when the resident exits. Any such modifications will be at the cost of the resident, which may also include architectural and engineering reports for structural changes.

We are firm believers in the health and wellbeing benefits that many people experience with owning pets, and we want our residents to enjoy this. Of course there may be limits on the size and type of pets to ensure that there are no issues with other residents, but generally we will try to give approval to requests. We will provide pet owners with our policies that cover this option to ensure harmony for everyone!

We want residents to be able to welcome family and friends, but of course in community living there are certain guidelines that will apply – we will provide residents with this information on entry. We would also appreciate some notice before anyone new comes to stay, for reasons of security.

If residents wish to leave, we require at least one month’s notice. Payments for management and maintenance will stop when you leave, but any unpaid weekly amounts will be deducted from your exit entitlement.

The exit fee is part of the conditions of purchase of your apartment under the Agreement, and is calculated on a daily basis. Your exit entitlement is calculated on the amount you paid on entering the complex, less the amount of the exit fee. These details will be explained more fully in the documentation provided when purchasing and apartment.