Although all of our 2 and 3-bedroom villas are now under contract, circumstances do change from time to time, so we are maintaining a waiting list for these villas. We do have a limited number of Townhouses available.
Once an application has been signed and a deposit paid, we can proceed with an Occupation Right Agreement.
All deposits paid will be held in trust with the Statutory Supervisor. If you change your mind the deposit will be refunded to you in full with any interest accrued.
The ORA is a legal document that gives a person the right to occupy a residential unit in a retirement village.
The ORA sets out the terms and conditions of an occupation right, in compliance with the provisions of the Retirement Villages Act 2003 and the Retirement Villages Regulations 2006.
A Statutory Supervisor will be appointed (who is independent from the village manager) as part of the village registration. The Statutory Supervisor provides a safeguard for the residents of the village. The role of the Statutory Supervisor includes (among other matters) monitoring the financial position of the village, annual reporting to the village residents at an annual general village meeting, ensuring that the terms of the residents' ORA are met, and the oversight of all deposits made by residents until such time as the ORA is settled or a refund is required due to a cancellation. At the Boulevard out Statutory Supervisor is Richard McLaughlin from Anchorage Trustees.
For your peace of mind it is important to have certainty regarding your living costs.
For the entire time you occupy a specific villa, apartment or care suite your weekly village fee for that specific villa, apartment or care suite, will not increase while you occupy that villa, apartment or care suite.
Village life brings with it security and freedom if you wish to travel. You can go away knowing that your home and garden will be watched and cared for.
All fees payable will cease on the day you permanently vacate your villa, apartment or care suite.
The Deferred Management Fee is a resident’s contribution to the overall village including (without limitation) the ongoing management and operation of the village and its community facilities, administration costs, sale and refurbishment costs and costs of compliance with any statute, regulation or other lawful obligations in respect to the village.
The Deferred Management Fee accrues to the village during a resident’s occupation of a villa, apartment or care suite and is deducted from the entry payment upon termination of a resident’s ORA.
For your peace of mind it is important to have certainty regarding your living costs.
If the village provides care services or additional services to you (which are not included in the weekly village fee), then you will be charge for these services. The fee for the provisions of these services will be provided to you on application, and may change over time depending on your choice of services to be provided to you by the village.
Following termination of your ORA, the village accepts total responsibility for undertaking the refurbishment, marketing and on-sale of your villa, apartment or care suite, except in circumstances where there is damage to the villa, apartment or care suite caused by you and such damage is not attributable to fair wear and tear. The refurbishment, marketing and on-sale costs are covered by the Deferred Management Fee. In some villages we know these fees are payable by the resident following termination.
Also it is important to know that following termination of the ORA and the on-sale of the villa, the village will pay the resident the exit payment, this being the entry payment less the Deferred Management Fee, plus any outstanding weekly village fee, additional services fee and care services fee. The exit payment will not decrease further if the villa, apartment, or care suite is sold for a lower price than what you paid when you entered the village.
Any further questions please refer to the New Zealand Retirement Villages Association website
