We know that moving to a village is a major decision. While experience and research shows residents rarely, if ever*, regret the move, we believe it important that residents have clarity on certain issues above normal retirement village practice. As such we give the following commitment, which is reflected in our village documentation:
We appreciate that residents are on fixed incomes and as such, require some certainty over possible weekly fee increases. When you move to one of our villages, the weekly tariff is set for you and while we will try to minimise any future increases, some costs are outside of our control. Regardless however, we undertake that your full weekly tariff will never increase by more than the consumer price index. In addition, until the principal facilities are complete at your village, residents will only pay a proportionate share of the full weekly tariff.
We do not charge multiple village contributions if you move within the village, e.g. from a villa to a serviced apartment. We will charge you for one village contribution. The amount of that single charge will depend on the relative entry payments of your original unit and your subsequent unit.
While it is important that a village has aged care facilities for residents that require them, we have designed all of our villages so residents can “age in place” for as long as possible. We know residents enjoy their homes and we commit to do everything possible to deliver care, meals and other services for as long as you can practically stay in your unit. Notwithstanding this, once completed all our villages will provide care facilities, at least up to hospital care level.
We want to assure residents that we will do our utmost to ensure a rapid relicensing of your unit when you leave the village. Accordingly, your village tariff payment will stop when your license terminates and your unit has been vacated.
The Retirement Villages Act requires weekly tariffs to reduce by 50% after six months; we have gone further, ceasing the village tariff completely on termination and vacation.
We undertake that on resale of your unit the amount paid to you will not be reduced as a result of a lower Entry Payment being paid by the incoming resident if unit prices have fallen. If there is a “capital loss”, we suffer this loss, not you.
Each of our villages accepts full responsibility for the refurbishment, marketing and relicensing of your apartment, minimising costs and inconvenience to you. There are no hidden costs when you leave, you will not be charged any commissions, selling fees, legal fees or marketing costs when we relicense your apartment. In addition you will not be liable for costs to refurbish your apartment unless you have caused damage beyond reasonable fair wear and tear.
We want to demonstrate our commitment to minimising the length of time taken to relicense your unit when you leave one of our villages. Consequently, if we have been unable to relicense your unit within nine months, we will rebate your village contribution back to you from that date at the same rate as it accrued to us.
We say "if we have charged you a village contribution over time, then if we have not sold your apartment after nine months, it's only fair we reimburse you for this at the same rate," We are unaware of any other village operator that makes this level of commitment.
It is important that residents have input into their community and we commit to regular meetings with resident committees and where possible incorporate suggestions into village operations.
If you are unhappy after you move into one of our villages, and you leave the village within 3 months of moving in after giving us notice in writing, then on relicensing your unit, we will refund 100% of the Entry Payment and make no deduction for any Village Contribution accrued.
If a resident is faced with a situation of financial difficulty, we will consider assisting the resident by way of providing financial assistance.
Residents move to a retirement village for a variety of reasons but one main driver is often the quality of the village, particularly the buildings, facilities and gardens. We give our commitment to maintain that level of quality in everything we do, whether in design, construction or operation of the village.
Above all else, we give our absolute commitment to listen to you, to try to do our best, and at all times, to treat residents with the respect that they, our valued customers, deserve
For full details refer to the particular village Occupation Right Agreement and Disclosure Statement.
*An AG Neilsen comprehensive survey of retirement villages carried out for the Retirement Commission revealed that 99% of residents are extremely satisfied or satisfied with their village life.