FAQs
FREQUENTLY ASKED QUESTIONS
1) How much have the properties gone up in value?
A) Our homes may reflect increases at a calculated rate, similar to what is happening in the private home sector.
2) Who owns the Resorts?
A) The Prime Retirement and Aged Care Property Trust
3) What happens if they lose all the money?
A) The Retirement Village Act protects lease holders and the asset.
4) How much are the units?
A) The units/homes range from $69,000.00 to the low $300,000.00.
5) What is the difference between leasehold and freehold?
A) In leasehold, the purchaser acquires an interest in the land only. In freehold, the purchaser acquires the land interest.
6) Do we have security buzzers in the units?
A) No, security buzzers may be installed by one of our preferred suppliers, at the resident’s expense.
7) What happens when I leave/die?
A) The unit is sold and the proceeds, minus certain exclusion as per your lease, revert back to you or your estate.
8) How do we price the re-sales?
A) You are advised of the suggested price by our sales manager, which you must agree to prior to the sale of the unit.
9) Do we allow pets?
A) Yes, approved pets are allowed in the resorts.
10) What does it mean by Participating & Non-participating lease?
A) In a Participating Lease, the lease holder participates in the capital gain of the unit via a reduction of the deferred management fee. Any difference is not awarded to the lease holder. In a Non-Participating Lease, the lease holder does not benefit from any capital gain of the unit, though receives a 10% discount up front on the purchase price.
11) Explain the exit fee and the termination fee?
A) The Exit Fee is made up of two fees. The Deferred Management Fee and the Termination Fee. The DMF is a fee paid to the scheme operator which equals 3% of the purchase price of the unit. This fee is paid on the anniversary date of the lease each year.
12) Is the monthly contribution the same for each size unit and what does it cover?
A) Yes, the monthly contribution is the same for each size unit. This contribution covers management and administration, gardening and minor maintenance, recreation or entertainment facilities and bus transport.
13) Do we provide meals?
A) No, private contractors are can be arranged to provide this service for you.
14) What are the activities?
A) The activities are snooker, indoor bowls, lawns bowls, cards, craft, wood working and line dancing, just to name a few.
15) Is the unit going to be done up prior to settlement?
A) Yes, the unit will receive a make over which will include a combination of tiles and carpet, down lights, new kitchen and bathroom, paint and landscape in the front and back yards.
16) Who looks after the front garden?
A) The front garden is looked after by the resort gardeners. You will need to look after your back garden and lawn.
17) Are visitors allowed to stay and for how long?
A) Visitors are allowed to stay for three weeks. Beyond three weeks, its not a problem, though you must notify the onsite manger of the additional time frame.
If you have other questions not addressed here, contact us so we can discuss your specific questions | 
