Where can I find out more detailed information?
Ask for a relevant Public Information Document (PID), Disclosure Statement or Factsheet. These will contain detailed information about purchasing an accommodation unit within the village and will be registered with the relevant State Government authority.
Who can live in a village?
In Queensland, Victoria and Tasmania our villages are open to anyone aged 65 years and over who has retired from full time work.
Our village in Western Australia is open to anyone 55 years and over who has retired from full time work.
Are the villages registered and accredited retirement villages?
Yes. All of Regis’ retirement villages are registered with the relevant State Government authority.
Our Queensland retirement villages are all fully accredited through the International Retirement Communities Accreditation Scheme (IRCAS).
Regis’ villages in Victoria, Tasmania and Western Australia will undertake accreditation in 2018.
Although not compulsory, accreditation is the industry’s stamp of quality. It shows the village is managed and operated professionally and ethically and provides extra peace of mind for future and existing residents.
What is a Licence to Occupy / Loan Licence?
This is a requirement for people wanting to live in a retirement village in either Queensland or Tasmania.
With a Licence to Occupy / Loan Licence, you offer Regis Aged Care Pty Ltd (the scheme operator) an interest free loan as an ingoing contribution. Regis accepts this in exchange for a licence to occupy the accommodation unit and for use of the community facilities at the village.
The ingoing contribution, less any exit fees and any other additional amounts payable, is repaid when you leave the accommodation unit.
How do I purchase a Licence to Occupy / Loan Licence?
You can place a $5,000 deposit on the available accommodation unit of your choice and complete an Application to Reside. We then process the deposit and finalise the paperwork.
This takes around 14 days.
You then just need to sign the Residence Contract.
If your circumstances change, all deposit monies are fully refundable.
Please note, we encourage you to seek independent legal and financial advice before signing a Residence Contract.
Are rental options available?
Please note, in Queensland, a rental option may be offered under a Residence Contract or General Tenancy Agreement.
Is there a cooling off period?
Yes. A mandatory cooling off period applies to all retirement villages in each State.
Depending on the State, the period may range from three (3) days to 21 days. The relevant Public Information Document (PID), Disclosure Statement or Factsheet contains detailed information on the cooling off period.
Are there any ongoing fees and charges?
There is a monthly fee and an exit fee.
Some villages have a separate maintenance fund.
You will also need to pay for any personal expenses, such as private phone or electricity bills.
The monthly contribution.
As a resident, you will be required to pay a monthly financial contribution to the village’s operating and reserve fund.
This covers things like:
- village administration and management;
- rates and taxes for the village;
- water, gas and electricity for common areas;
- costs associated with sewerage, waste disposal and refuse collection for the village;
- premiums for public risk and liability insurance, building insurance, contents insurance (for contents not owned by residents) and worker’s compensation insurance;
- costs for cleaning of common areas (this does not include cleaning of accommodation units); and
- costs for the control and eradication of pests in common areas.
The village may operate a maintenance reserve or long-term maintenance fund for maintaining and repairing the village’s capital items. The amount is determined annually by Regis once we have inspected the annual Quantity Surveyor’s report.
An Exit Fee is payable when you leave your accommodation unit. More detailed information about these fees and charges can be found in the relevant Public Information Document (PID), Disclosure Statement or Factsheet.
Please note that all fees and charges are subject to change.
Exit Fee / Deferred Management Fee
The Exit Fee may be taken out of your repayment when you vacate your accommodation unit. Information on the Exit Fee is detailed in the relevant Public Information Document (PID), Disclosure Statement or Factsheet.
Are there any legal costs involved?
You are responsible for the payment of your legal costs and charges relating to your right to reside in your accommodation unit.
You will need to pay Regis’ legal costs of $990.00 (inclusive of GST) for the preparation of your Residence Contract before you take occupation of your accommodation unit. Please note, this fee is not refundable once your contract is issued.
Fees may also apply if you need to change the contract. For instance, should your circumstances change during the settlement process and you need to amend your contractual requirements, you will be responsible for any legal costs amending this change (such as a Deed of Variation).
As a result, we encourage you to seek independent legal advice before signing a Residence Contract.
Will I receive priority if I need to move to the aged care facility?
It will depend on availability. And on what kind of aged care you need.
If you are assessed as requiring care and can no longer live independently, or require respite care for a period of time, Regis will work with you and your family to locate a suitable residential aged care option which meets your required care and financial needs.
Can I keep a pet in my accommodation unit?
In many villages, Regis welcomes pets on application.