The Retirement Village Handbook
The Retirement Village Handbook is a comprehensive consumer guide to resident funded retirement villages in Australia. It is designed to help prospective retirement village residents and their families understand the main resident funded retirement village alternatives that are available in Australia today and provide them with the information they need to analyse and assess opportunities, compare alternatives, evaluate investment potential, ask the right questions, get the right advice and ultimately make informed decisions.
The Retirement Village Handbook is divided into 3 distinct parts to facilitate a systematic approach to what is a complex topic.
Part 1 is a detailed explanation of what retirement villages are all about. Among other things, it:
- describes the main features of a retirement village
- suggests the main reasons for moving to and from a retirement village
- distinguishes between resident funded and donor funded retirement villages
- illustrates some of the features of retirement villages that make them more complicated than traditional forms of property
- indicates the range of legislation that may be relevant
- describes the different legal structures, including long-term lease, long-term license, strata title, community title, company title, unit trust, manufactured home and conventional lease structures
- discusses the main implications of the different legal structures
- discusses parking arrangements and legal documentation\identifies and discusses key issues like stamp duty, GST, service charges, refurbishment and capital replacement costs, security of tenure, operator default, termination, vacating the premises, capital losses and credit risk
- explains what departure fees are and what they are for
- describes and discusses the different departure fee structures, with examples, and highlights some potential traps for the unwary
- develops a methodology for analysing and assessing opportunities, comparing alternatives and evaluating investment potential
- considers when banks are most likely to be willing to provide finance
- discusses a range of related matters including waiting lists, committing off-the-plan, negotiation and selling your existing home.
Part 2 contains extensive checklists in the following categories:
- personal considerations
- the village
- the unit
- financial considerations
- legal considerations
- selling your home
- vacating the premises.
Part 3 contains user-friendly summaries of relevant parts of the New South Wales, Queensland and Victorian Retirement Villages Acts, as they apply to new residents. It does not include summaries of the specific legislation that applies to manufactured home villages or short-term tenancies.
Please click here for information regarding:
- the current edition of The Retirement Village Handbook
- significant changes to the Victorian Retirement Villages Act that have not yet been incorporated in The Retirement Village Handbook.
The cost of The Retirement Village Handbook, including postage (for delivery within Australia), handling and taxes, is:
- $49.95 for Seniors Card holders who post, fax or email a legible copy of their Seniors Card with their order
- $75 otherwise.
[Click here to see the Contents of The Retirement Village Handbook]
[Click here to order The Retirement Village Handbook]