When moving in, residents pay a one off “Ingoing Contribution” which entitles them to live in their selected accommodation for as long as they wish. You don’t actually own the bricks and mortar, but you do own the right to live there and call it your home.
A monthly fee covers most of the things you presently pay for yourself, such as Council rates, water rates, emergency services levy, building insurance and includes items such as the manager's and maintenance person's wages, gardens and grounds, the contribution to the long term maintenance fund as well as maintenance of Community facilities and community lighting etc.
When the time comes for you to move, your Ingoing Contribution is refunded to you less the required exit fees. The formula used to calculate these amounts will be explained to you and are determined by how long you have been in residence. The exit contribution component is clearly explained in your contract and we welcome the opportunity to discuss this in more detail with yourself, your family and any adviser.