Admission and Financial - Independent Living

Independent Living Units

• No Government subsidies but operated under the  Retirement Villages Act  (State).
• Residence Contract for occupancy.
• Ingoing Contribution (loan) based on value of Unit.
• Upon vacating Unit, Ingoing Contribution is refunded less an Exit Fee calculated at 5% per annum for maximum of five years.
• Fortnightly General Services Charge (including Maintenance Reserve Fund contribution) covers operating costs.
• Application to Village.

Serviced Apartments

• Similar to Independent Living Units (see above). Exit Fee calculated at 5% per annum for maximum of five years.
• Fortnightly General Services Charge (including Maintenance Reserve Fund contribution) and Personal Services Charge (for meals, flat-linen laundry and cleaning) cover operating costs.
• Application to Village.

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