If you’re considering moving into an Adventist Retirement Village in Western Australia this information will answer most of your questions about how the villages operate.
How Much does it cost to enter the Village?
Indicative amounts payable are shown below:
- 1 Bedroom Unit $200,000-$210,000
- 2 Bedroom Unit $260,000-$420,000
- 3 Bedroom Unit $440,000-$460,000
This is the total cost to enter the village. State taxes and other duty payments are not applicable as the transaction is for a licence not a property.
What is my expected refund on leaving the Village?
The refund entitlement payable upon contract termination is based on a percentage of the original ingoing contribution paid as follows:
- Less than 12 mths occupancy 90%
- 12 mths to 24 mths occupancy 85%
- More than 24 mths occupancy 80%
Currently ARC does not offer any distribution of any proceeds from capital gains through property appreciation.
Can the management be outsourced to a third party?
No, the management responsibilities cannot be assigned or outsourced to a third party.
Is the Village accredited?
There currently isn’t any mandatory accreditation for the industry. However Adventist Residential Care complies with all of the requirements under the Retirement Villages Act 1992.
Who looks after the interests of the residents?
Annually at the residents’ AGM in each November, the residents elect a Residents Representative Committee. The Chairperson of this committee also sits by position, on the Village Management Committee.
How is the GSF (General Service Fee) calculated?
To ensure the safe and effecient running of the Village, a 'General Service Fee' is charged to residents. The amount is based on the size of the home the resident occupies.
General Service Fees are used for, but are not limited to, repairs and maintenance, meeting fire and safety requirements, insurances, rates and taxes, cleaning of common areas, water, street lighting, pest control and security.
How much is the GSF?
General Service Fees are adjusted every six months based on the Consumer Price Index (CPI – Inflation) figures for Perth city.
Current General Service Fees (at time of posting) are as follows:
- 1 Bedroom Unit $364 per month
- 2 Bedroom Unit $411 per month
- 3 Bedroom Unit $421 per month
Who pays for electicity and other utilities?
You are also responsible to pay for your own utility charges. ie. Electricity, phone and water usage.
Do I need to purchase Insurance?
Adventist Residential Care provides comprehensive Insurance cover for the building and fixtures. ie. Roof, carpets, blinds etc.
You will need to purchase you own Contents Insurance to cover your personal belongings. ie. Clothes, furniture, electronics etc.
Can a resident be liable for any additional or extraordinary charges?
No, a resident cannot be liable for any additional charges.