Retirement Villages Sydney
The retirement village is operated in accordance with the Fair Trading Act 1987, the New South Wales Retirement Villages Act 1999, the New South Wales Retirement Villages Regulations 2000, the Residential Tenancies Act 2010, the Corporations Act 2001 and the New South Wales Civil and Administrative Tribunal 2013.
Our independent living apartments are offered on a loan and licence arrangement, this guarantees your refund will be paid 6 months or less upon termination of agreement. You are not required to sell your property or wait until it is sold to receive the refund.
Residents provide a refundable holding deposit of $1000.00 to express interest in an apartment and as a consequence, the apartment is withdrawn for a period of 14 days. The resident is issued with a Licence Agreement. This period provides interested parties an opportunity to examine the Licence Agreement and to seek legal and/or other advice.
A deposit of 10% is required to be paid following the period of examination (at the end of the 14 days) to the operator.
The balance of the entry (ingoing) contribution is due on or prior to the Agreed Entry Date which is the date the resident may occupy the apartment.
Retention fees are calculated at 5% per annum for 6 years inclusive or part thereof (maximum of 30%).
The maintenance fees are currently $455.00 per calendar month. (1st July, 2017)
There is an entry (ingoing) contribution of $5000.00 for a car port and retention fees are calculated at 5% per annum for 6 years inclusive or part thereof (maximum of 30%).
The Car Port fee is $21.00 per calendar month. (1st July, 2017)
Legal fees are currently fixed at $200.00 plus GST charged to the resident.
- Most regulated accommodation sector offering protection
- Easy to read contract
- No stamp duty & no hidden fees
- Flexible terms
- Apartments priced at below market value for the Northern Beaches
- Money to live on, budget with confidence