At present we are taking expressions of interest for the villas in the first stage. The site plan shows how the development of the village is staged.
At present the village is not yet registered under the Retirement Villages act 2003 (Act). Registration of the village under the Act is under way. Once the village becomes registered we can proceed with an Occupation Right Agreement. At that stage you will also complete an application form and a deposit will be required.
All deposits paid will be held in trust with the statutory supervisor of the village, to be appointed as part of the village registration, and if you change your mind the deposit will be refunded to you.
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 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 residents of the village at an annual general village meeting, to ensure that the terms of the residents' ORA are met and management of all deposits made by residents until such time as the ORA is settled or a refund is required due to a cancellation. .
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 statue, 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 choices 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 your ORA, the village will pay to the resident the exit payment, being the entry payment less the Deferred Management Fee and any outstanding weekly village fee, additional services fee and care services fee. The exit payment will not be decreased 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
