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FAQ's

What questions should I ask about a village I am considering?

The Retirement Villages Act sets out a useful check list for prospective residents as follows:

  1. Discuss your decision to enter a retirement village with your family, friends, and other people who usually discuss important matters with you. 
  2. You should take all of the documents relating to the village to a legal practitioner who understands the financial implications of retirement village contracts. 
  3. Regarding life at the village itself, you should find out whether:
    1. the lifestyle of the village (including social activities and religion) meet your needs;
    2. the facilities at the village meet your present needs and whether they will meet what you expect will be your future needs;
    3. you have any say in the design, construction and furnishing of your unit if construction is not yet complete;
    4. the retirement village provides any nursing care, an emergency call system or other facilities specially designed for the elderly;
    5. you can be moved from the village or within the village without your consent, and if so, under what circumstances;
    6. your long term occupancy at the village is secure;
    7. the residents are actively involved in decisions concerning the level of maintenance and services provided and their cost, and how these fees are to be varied in the future. 
  4. You should also enquire about:
    1. pets, visitors, car parking and public transport;
    2. when you get access to your money after you leave the village;
    3. what system the village has for resolving disputes;
    4. what restrictions exist on the persons to whom you may sell your unit;
    5. the restrictions (if any) on your use of your unit and of the village facilities generally;
    6. what protection you have if the village is sold to an organisation that has management plans or philosophies that are inconsistent with the way in which the village you propose to enter is managed. 
  5. Compare the terms and amount of repayment of your in-going sum with other charges imposed on residents at the village, such as regular maintenance charges and any other extraordinary costs.
  6. Find out how you will have to adapt and alter your existing lifestyle to comply with the regulations and restrictions of life in the village. 
  7. If the community facilities of the village have yet to be built, find out what guarantee you have that they will be completed. 
  8. Find out whether the owner can terminate your occupancy at any time, and if so, under what circumstances. 
  9. If pensioner rebates are to be claimed by the owner or manager on your behalf, find out whether you will receive all the benefits of the rebates.

How are disputes resolved at villages?

Disputes between residents or between residents and the manager and/or owner may be referred to Consumer Affairs Victoria or may be dealt with, at the option of the resident, under the village dispute resolution procedure. The internal dispute resolution procedure is available from the Manger. 

Read more: How are disputes resolved at villages?

What happens when I leave?

At Greenways residents pay an Ingoing Contribution at the commencement of their stay in the village. 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.

Read more: What happens when I leave?

What ongoing commitment is required?

A weekly maintenance charge [reviewed annually generally in line with CPI) is paid fortnightly in advance by all residents. For convenience and security this payment is be made via a direct bank debit.

Read more: What ongoing commitment is required?

Buying versus leasing

A comparable strata unit

  • May have a higher ingoing cost 
  • Incurs expensive stamp duty and legal fees
  • Involves body corporate obligations
  • And residents generally pay for all major maintenance and repairs

    Read more: Buying versus leasing

How much does it cost?

Indicative prices are included on this web site but the Manager can provide you with a current price list and details of what units are available.

At Greenways we aim to keep the ingoing cost below other comparable villages. In addition stamp duty and legal fees are minimal.

But it is not only the ingoing cost that you need to consider when comparing different villages. The ongoing commitment and refund on departure are equally important.

Read more: How much does it cost?

Which retirement village?

You have probably visited other villages already, but if not we would recommend that you obtain a copy of the current Retirement Village Association directory which gives the addresses and contact phone numbers for all member villages. We recommend that you visit a number of villages and talk to the residents and staff as well as discussing the choices with family, friends and advisors.

Read more: Which retirement village?

 

   
    

 

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.