All Aveo Live Well Retirement Villages operate under a Deferred Management Fee model and villages are ‘self-funded’. Within this model, purchasers will incur two types of fees in addition to the initial purchase price.
The first fee is a fee that is used to contribute to:
- Professional on-site management
- Gardening/landscaping
- Maintenance of common areas and community facilities
- Provision of a 24-hour emergency call system
- Insurance
This fee can be paid weekly, monthly or bi-monthly, depending on the financial structure of the retirement village.
Fees will vary depending on the size of the retirement village and the number of facilities/services. Fees are generally reviewed on an annual basis. Village residents are invited to participate in the review process.
The second fee is a Deferred Management Fee which residents must pay when they leave the village. The way in which this fee is calculated does vary according to the individual retirement village. However, our consultants will be happy to discuss all details with you and provide specific examples as to how this fee structure works.
At Aveo we recognise that the decision to purchase into a retirement village is a major financial commitment and we encourage family members and financial advisors to come and meet with our consultants who will provide a detailed overview of the fee structure and answer any questions you may have. We also encourage all purchasers to obtain independent legal advice prior to entering into an accommodation contract.
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