Retirement FAQs
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UNDER WHAT LEGISLATION DOES WOODBRIDGE OPERATE?
Woodbridge is governed by The Retirement Villages Act 2016 (SA) and Retirement Villages Regulations 2017 (SA).
How does the retirement living model work?
When you buy in our Retirement Village you are buying a ‘lifetime licence to occupy’ subject to the terms and conditions set out in our Residence Contract.
Once you have viewed our homes and facilities, you can nominate to register on our Wait List. A fee of $1,000 is required to accompany this application which can be withdrawn and is fully refundable at any time before signing a Residence Contract.
When you have decided on one of our homes and discussed the options with our Sales & Marketing Officer the next step is to receive a letter of offer from us to secure the hold on your unit. Your hold can be subject to the sale of your home. You will be given approximately 60 days to secure a contract on your home and a further 30 days, if required, to settle and move in with us.
Once you have an unconditional contract on your home, we will prepare your Residents Contract and other documentation you will need to review and sign. We encourage you to seek legal advice on this information and ensure you are comfortable with its detail. You will have a 10 business day cool-off period after you have signed the contract.
Do I own the title or the building?
The title of the Village remains in the name of Lakeside Villages Inc. Residents do not obtain a separate Certificate of Title. A lifetime licence to occupy a unit is obtained by payment of the premium and compliance with our Residence Contract.
Do I pay stamp duty on a Lifetime Licence to Occupy?
No, there is no stamp duty payable in South Australia for a Licence to Occupy.
What does the maintenance fee cover?
A calendar monthly maintenance fee is payable from the date you move in with us. This fee covers administration and management of the village including some staff wages, council rates, water rates and water usage, maintenance of your home including the front garden, maintenance of core appliances provided in the home such as stoves, air-conditioners and hot water services; building insurance on your home and all community facilities and village infrastructure, as well as public liability for the village, upkeep of communal areas and village gardens. If you are entitled to any concessions
for council or water rates, you should receive them direct from the Government while living with us. The office can provide you with a concession’s application form on request.
What costs is a resident responsible for apart from the maintenance fee?
Just like living in your own home, you will be responsible for the payment of your own electricity consumption, your telephone calls, connection and maintenance, your gas consumption and your personal contents insurance.
Rear gardens are also the responsibility of the resident to maintain which includes garden sheds and garden beds.
How are costs of running the village controlled?
Woodbridge establishes the annual maintenance budget and monthly maintenance fee each year in consultation with the Residents Committee. Woodbridge manages the maintenance budget and meets with Residents Committee each month. Any changes to fees are consulted with the Residents Committee.
Who insures the village?
Woodbridge arranges for building and public liability insurance cover which is paid through the maintenance fund. Individual residents should cover their own contents within the home, including public liability within the home.
How are village budgets managed?
“Woodbridge establishes the annual maintenance budget and monthly maintenance fee each year in consultation with the Residents Committee. Woodbridge manages the maintenance budget and meets with Residents Committee each month. Woodbridge maintains open and clear communication with the Residents Committee.”
How are the residents represented?
The residents of Woodbridge have established a Residents Committee to consult with the Woodbridge Administration Team in relation to matters of interest to residents and to represent the interests of residents. The Woodbridge Residents Committee meets regularly with the Woodbridge Administration Team.
Can I have a pet?
We are a pet-friendly community and are happy to discuss this with incoming residents to ensure they have a clear understanding of their rights and obligations as set out in the pet clause detailed in the Residence Contract.
If we permit you to keep a pet, we may withdraw our permission if your pet creates an unreasonable noise or nuisance, attacks or threatens people or other animals within the village, causes damage to village property, or if the rules set out above or the terms in the Residence Contract are broken.
Can grandchildren and other visitors stay with me?
Of course! Friends and family are most welcome to visit you and stay for short periods of time with approval. If you have someone you’d like to stay for more than 3 nights please discuss this with Village Management for approval.
Can I make any changes or additions to my home?
Yes, subject to approval. We have an approval process in place and are happy to discuss additions such as pergolas (if there isn’t already one), garden sheds, awnings, ceiling fans, etc. Council may require approval for external additions – your licensed builder will organise this for you. We ask that you obtain a quote and plan from a licensed builder to perform the work and submit that together with our paperwork to our management for approval prior to commencing work.
What is required to move into a retirement village?
You will need to be over 55 years of age and not working full time.
Can I have a mortgage over the property?
No – purchasing your licence to occupy must be in full. Your purchase can be subject to the sale of your home with full payment to us once your home has sold and settled.
What if I need to move into the next level of care?
The residents of Woodbridge enjoy the benefit of the service provided by our Wellbeing Coordinator. The Wellbeing Coordinator is available to:
- assist residents to obtain services and supports to enable them to remain living independently in their homes;
- navigate the aged care system and assist with My Aged Care referrals;
- provide information on Advanced Care Directives, Enduring Power of Attorney, personal alert systems, activities and initiatives in the community, falls prevention, carer support, dementia, safety and general wellbeing;
- provide support for significant life events such as death of a partner, partner moving to residential care and diagnosis of dementia or other health condition.
What are the outgoings when the time comes to leave the village?
Outgoing charges include a Deferred Management Fee and any outstanding monthly maintenance fees.
What is the Deferred Management Fee?
When the resident vacates the unit, Woodbridge Retirement Village will repay within 120 days of the property being emptied and keys returned. If a resident has been with us for more than 90 days but less than 1 year, repayment is 92% of the premium. More than 1 year, but less than 2 years, repayment is 85% of the premium. More than 2 years, but less than 3 years the repayment will be 80% of the premium. After 3 years 77% of the premium will be repaid.
Do you charge for a capital replacement fund?
No. Unlike so many other Retirement Villages in South Australia, Woodbridge Retirement Village does not charge outgoing residents a Capital Replacement fee (some organisations will charge 1% of the premium per year for the first 10 years).
Do you charge a remarketing fee?
No.
What if I need extra help in the home?
We have a Wellbeing Coordinator who can guide you through the process of organising the external services you may require as your needs change. Additional services are at the resident’s cost and payable directly to the selected external service provider.