fbpx
Contracts

Contracts

In brief at Greenways residents pay an Ingoing Contribution at the commencement of their stay in the village equal to the value of the accommodation and enter a Life Time Lease with the Owner and Manager. The Ingoing Contribution is refunded to the resident or their estate following their departure from the village less a deduction by way of rental dependent upon the length of occupancy. The rental deduction is calculated as a percentage of the Ingoing Contribution for each year of occupancy but is fixed at a maximum of 30% after 8 years. The deduction reduces to 0% after 23 years.

The Refundable Ingoing Contribution is paid to the departed resident or their estate within 14 days of the vacated unit being re-leased and the Ingoing Contribution from the succeeding resident being received.

At Greenways there are no other deductions from the refund or obligations in relation to sales commission or unit refurbishment costs and the weekly maintenance charge is not payable after the lease term has expired. There are no legal costs associated with exiting the village. It is also important to note that at Greenways it is the owner who meets major repair costs in relation to the units and the village generally including items such as the replacement of hot water services, stoves, carpets and floor coverings providing long term financial certainty for residents.

The above is only a summary of the arrangements at Greenways. Prospective residents are encouraged to carefully read all residence documents and take legal advice before making a decision.

 

   
    

 

Village Life

Greenways residents are enjoying a regular pancake morning in the Community Centre. A gold coin donation was collected to assist the children’s ward at the Frankston Hospital. Read More…
 
One of the great advantages of living at Greenways Village is the ability to just lock the door and travel. The village staff take care of the day to day, looking after our home while we are away. Testimonials
 

Disclaimer

Greenways Village seeks to ensure that all content and information published at this Web site is current and accurate. The information at Greenwaysvillage.com.au does not in any way constitute legal or professional advice and Greenways Village cannot be held liable for actions arising from its use. In addition, Greenways Village cannot be held responsible for the contents of any externally linked pages.