Frequently asked questions

You are responsible for your own utility charges and council rates.
This is your new home so family members are welcome to stay for a short while.
You do not need building insurance but you will need to insure your contents and personal effects.
Retirement village legislation regulates the retirement village industry and ensures that residents of retirement villages have rights. Legislation is state enacted, so you can discuss with your solicitor the specific provisions applicable in your state.
Self-funded is also known as lease-for-life. These types of leases are widely used by Retirement Village operators in Western Australia as being the most practical and cost effective method for residency contracts. Leases are not strata or land titles.

A lease gives you the security of tenure you reasonably expect and ensures that the whole Village is maintained to a continually high standard by the Village Managers who are responsible to all residents to ensure this happens.

This type of agreement is less complicated than a strata title so it keeps down administrative costs without disadvantaging you. In addition, there is no GST payable on the lease, and there is no stamp duty payable. The result is a lower purchase price for you.

Your lease provides a secure and legally binding interest that is protected by your Residency Agreement, the Retirement Villages Act 1992 and a Memorial which is lodged over the title of the Village protecting your rights under the Retirement Villages Act.  The Village cannot be sold for any other purpose than as a Retirement Village so your investment is secure.

Security of tenure are laws that provide residents of a retirement home with security in purchasing a lease on a place to stay. Occupancy conditions vary in villages, so the lease must talk about the terms and conditions of the scheme for each estate. Your rights are protected by default under the Retirement Villages Act.
A Memorial is a registered document that declares the status of the land as that of a retirement village, meaning that should the village be sold  – the new owner will continue to operate the title land as a Retirement Village, so your investment is secure.

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