Are you a member of the Retirement Villages Association (RVA)?
Yes, we are. Choosing an RVA member village brings assurance that the village must comply with the Retirement Villages’ Code of Practice. This is designed to ensure that RVA members operate their villages in a professional manner.
What is a Disclosure Statement
The Disclosure Statement provides the information about the ownership, management and supervision of the village. It includes information about the occupancy tenure, the state of the village, the services and facilities offered and the arrangments for maintenance and refurbishment. The costs of entering, living in and what you can expect to get back after you leave are explained in the Disclosure Statement.
What is an Occupation Right Agreement (ORA)?
The ORA is the legally binding agreement between the resident and Real Living as the village operator. The ORA sets out the terms and conditions of your right to live in the village, including what happens if you decide to leave the village.
Should we seek advice and, if so, from whom?
It is useful to discuss your options and decision with relatives and friends. Also, under the Retirement Villages Act 2003 you must receive independent legal advice before signing the ORA. The same lawyer who witnesses your signature on the ORA must also certify that they have explained to you the general effect of the ORA and its implications.
Is there a cooling-off period?
Yes, there is. Should circumstances dictate, or you decide the village is not for you, the Retirement Villages Act 2003 gives you the right to a refund if you cancel during a 15 working day ‘cooling-off’ period. The cooling-off period starts from the date you sign your ORA. Any money you have paid is held by our statutory supervisor until the cooling-off period expires
Are there any refurbishment costs when I exit my apartment?
No, unless there is damage beyond fair wear and tear.
What is a Deferred Management Fee and how does it work?
The Deferred Management Fee (or Village Contribution as it is also referred to in our documentation) is effectively a one-time payment that every resident makes towards the cost of establishing the communal facilities in the village, including the lounge, recreation facilities, gardens and management structures. Essentially it is payment for the things that distinguish living in your own home from living in the village community with all the additional amenities you can enjoy here. The Deferred Management Fee is deducted by the village upon the sale of your apartment.
It is calculated on a daily basis from your commencement date at the equivalent of 10% per year of your secured deposit for a maximum of three years. It is prudent that your family also understands the nature and terms of the Deferred Management Fee, as the deduction will affect the amount you (and they) are left with when you leave the village.
Do I pay an extra fee when I terminate my ORA?
There is no selling fee, but you will have to pay any amounts that are overdue for payment.
What does the Village Outgoings Payment cover?
The Village Outgoings Payment covers most of the ongoing running costs of the village. These costs include, but are not limited to, the upkeep of the village facilities, maintenance of the village grounds and gardens, security costs, staff wages and salaries, statutory charges such as council and water rates, ACC and public liability insurance, and common area insurance for the entire village.
What charges are not included in the Village Outgoings Payment?
The Village Outgoings Payment for apartments does not include internal maintenance, power, phone, internet connection, and contents insurance.
What insurance do I need at the village?
You need to insure your own belongings. You do not need building insurance – that is something we arrange, and the cost of it is included in the Village Outgoings Payment. If the buildings are damaged we will normally repair them, although there may be some circumstances where this does not happen.
Are there Serviced Apartments or Rest Home on site?
Epsom: No. As part of the Real Living Group you have priority access to our rest home Kensington House at Remuera Gardens.
Pakuranga: Yes, we have both Serviced Apartments and Rest Home that are all attached to the Lodge. VONZ has a contract with the District Health Board that means we can provide rest home accommodation to those residents whose financial means and health needs are such that they qualify for subsidised rest home care. Those who do not qualify for subsidised care must pay for their own care.
Remuera: Yes and we take pride in the quality of care that our Serviced Apartments and Rest Home provides. The sServiced Apartments are situated in Beattie Lodge and the Rest Home is in Kensington House.
Are there any plans for future development?
Epsom: Our village is fortunate to have space for expansion and development with the purchase of 57 Ranfurly Road in 2012. We have not settled upon plans for further development of the village at this time but the acquisition of the adjoining property provides opportunities to do so and additional development should be considered likely. We will consult with residents regarding any proposed development in a timely manner.
Pakuranga & Remuera: Our Village is fortunate to have space for expansion and development. We have not settled upon plans for further development at this time but additional development should be considered likely. We will consult with residents regarding any proposed development in a timely manner.
Must we be retired or can we still continue to work while living in the village?
You can continue to go to work while living in our village. We do not, however, allow you to work from home. The reasons for this include council restrictions on residential dwellings used for places of business, increased visitor traffic inconveniencing other residents and noise associated with a trade. Many of our residents spend much of their day at the village, and we protect the pleasant and peaceful environment we are proud of.
Are pets welcome?
Epsom: We value pets and the companionship they provide. However, we also recognise that domestic animals must not intrude on anyone’s quiet enjoyment of their home and village amenities. Pets are allowed subject to village management approval.
Pakuranga: We value pets and the companionship they provide. However, we also recognise that domestic animals must not intrude on anyone’s quiet enjoyment of their home and village amenities. Pets are allowed in our Villas subject to village management approval. Animals are not permitted in the Lodge building which includes the Independent Living Apartments, Serviced Apartments and Rest Home.
May we come and go as we please and leave our apartment unattended if we are away on holiday?
Village life brings security and freedom to travellers. You can go on holiday knowing that your home will be watched and cared for while you are away. All we ask is that you notify as if you are intending to be away.
What is the Village Manager’s role?
The Village Manager is responsible for the village’s day-to-day administration, employing and supervising staff and contractors, maintaining buildings and common property, arranging leisure and social activities, ensuring rules are adhered to for everyone’s benefit and maintaining contact with residents.
Does the village have a resident’s committee?
Yes, our village has a resident’s committee that works with management to maintain and enhance the quality of village life. To participate or not is a matter of personal choice, but many residents enjoy making significant contributions to whatever faces of village life most interest them.
How does government legislation protect the rights of village residents?
The Retirement Villages Act of 2003 and it’s regulations are designed to protect residents’ interest and set out basic standards for operating a village. These include disclosure of information to intending and existing residents, protections around residents’ financial interests, the details of termination arrangements, the relationship between the owner, resident, and manager including the methods of dispute resolution, and resident’s rights.
Will we receive a regular statement of the village’s finances?
The Retirement Villages Act 2003 requires management to provide residents with annual financial statements and budgets. These are presented and discussed at the village’s Annual General Meeting.
Full Disclosure Documents are available on request.
The Retirement Commission also provides information about retirement villages at: www.retirement.org.nz
Disclaimer: The information is provided as a guide only. Real Living Group strongly recommends that you consult and utilise appropriately skilled professional advisors. To the fullest extent allowed by law, under no circumstances shall Real Living Group be responsible for any direct, indirect or special loss or damage arising from, or as a consequence of, use of, or reliance upon this document.