Our retirement village contract offers a simplified financial process and a high level of clarity. It is designed to give you confidence about your finances and any support you may need, both now and in the future. Here are some of the ways our contract offers you peace of mind:
Our retirement village contract is simple and transparent, with no hidden costs. Before you move in, you’ll even know how much you’ll receive when you move out.
Your entry payment gives you the right to live in your new home. It is relative to the local property market and demand for homes in the retirement village.
Unlike most property transactions, you won’t pay stamp duty which saves you thousands of dollars up front.
We want you to feel confident with your decision to move into a RetireAustralia village, so our contract includes disclosure, cooling-off and settling-in periods.
Before you move in, you’ll know exactly how much you will receive when you leave. Our management fee is capped at 35% of your entry payment and accrued over your first three years in the village.
Everyone’s situation is different, so it’s wise to get independent legal and financial advice before signing a contract.
Moving into a retirement village is an investment in your lifestyle, health, and wellbeing. You’ll enjoy a friendly community, a safe and supportive environment, and access to services, activities and amenities that help you live well.
Fees cover the everyday running of the village such as upkeep of village amenities, council rates, building insurance and staff salaries. By law, these are charged on a cost-recovery basis, and we make no profit.
For additional peace of mind, village finances are audited by an independent party every year.
Should you need an increased level of care and support, you can stay in your home and village for longer, with support from our Care team or another reputable provider. In most cases, you’ll also have the option to transfer to a care apartment, serviced apartment or care hub with us.
When it comes time to leave your home, we ensure the process is simple and stress-free for you and your loved ones.
We prepare your home for sale, usually at no extra cost. The only exceptions are if there’s major damage, excessive wear and tear, or if we need to remove additions or alterations that you made.
You won’t be charged sales commission or marketing fees to sell your home.
Your exit entitlement is fixed and isn’t exposed to market fluctuations.
If your home is on the market for any length of time, your village services fees will be capped.
In the unlikely event that your home hasn’t sold within 6 months in New South Wales and 18 months in Queensland and South Australia, we’ll buy it back from you.
If you ever need to vacate your home and move to care accommodation with RetireAustralia, you won’t pay an additional management fee or entry payment.
When you leave the village, you’ll pay a management fee. It is capped at 35% of your entry payment and accrued over your first three years in the village. So, from the day you move in, you’ll be able to calculate how much you will receive when you leave the village. It is the only fee that allows us to reinvest into villages, funding capital improvements and upgrades that keep the village attractive, modern and comfortable for all residents. It also covers the cost of support staff and refurbishing and selling vacant homes.
Our management fee explained – click image to view
We researched a lot of different types of contracts when we were looking for somewhere to live. When we came to this village, we were told exactly what we were going into and we took the contract to our solicitor, so we were fully aware. It was very simple really and we were happy with it. You’re really buying a lifestyle when you move into a village.
I found the contract very easy to follow. It was quick and easy to explain to my children.
For us, there were no hidden costs. We took our contract to the solicitor and had it fully explained to us. We knew exactly what we were doing.
