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Costs & Contracts

Moving, Living in
and Leaving

We understand that moving into a retirement or care community is an important decision, and that you’ll want to understand all the costs to ensure you're making the right decision for you. To help make things a little easier, we’ve broken down the costs into three categories: Moving In, Living In and Leaving. Click below to find out more about each of these costs.

1

Moving in

Just like moving into any residence, moving into a retirement community involves upfront costs.

Upfront Fees

Occupancy payment

Also known as an ‘ingoing contribution’ or ‘entry payment’, an occupancy payment is a once-off refundable payment made by a resident to Aveo in return for obtaining the right to live in a home in an Aveo community under the terms of a retirement village contract.

To find the occupancy payment for a particular community, please call 1800 957 940 to speak to one of our friendly staff. 

Other costs

In addition to the occupancy payment, a resident may be required to pay legal costs, lease registration costs (including surveyor costs) and other charges payable to any external village trustee. Full details of these costs are contained in the retirement village disclosure statement which is available on request.

No stamp duty

In Aveo communities, residents obtain a right to live in their home under the terms of either a long-term registered lease or a licence agreement (depending on the Aveo community they choose), therefore residents do not pay stamp duty.

The right to change your mind

While so many Australians love calling our friendly communities home, we want you to take the time to make sure this is the right decision for you.

21 day cooling-off period

Provided you do not move into your new home in the meantime, you can cancel your retirement village contract within 21 days of signing it without paying any penalties.*

Aveo’s 21 day cooling-off period runs concurrently with any other cooling-off rights you may have that apply to your entry into the Aveo community under the retirement villages legislation that applies in your State.

*Terms and Conditions apply.

Settling-in Period – Your Money Back Guarantee

If you change your mind after moving into your home in an Aveo community, then provided you terminate your retirement village contract within the time required, Aveo will refund your occupancy payment paid to Aveo with no exit fee payable.*

Residents who choose the Aveo Certainty and Aveo Way retirement village contract options can change their mind within the first six months of moving into their new home in an Aveo community.

Residents who choose the Aveo Essentials retirement village contract option can change their mind in the first 90 days of moving into their new home in an Aveo community.

For the Aveo Certainty and Aveo Way retirement village contract options, Aveo’s settling-in period runs concurrently with any other statutory settling-in periods you may have that apply to your entry into the Aveo community under the retirement villages legislation that applies in your State.

*Terms and Conditions apply. Other costs may be payable.

Upfront Fees

Occupancy payment

Also known as an ‘entry payment’, the occupancy payment is a once-off refundable payment made by a resident to Freedom in return for obtaining the right to live in a home in a Freedom community under the terms of a retirement village contract.

To find the occupancy payment for a particular community, please call 1800 957 940 to speak to one of our friendly staff. 

Other costs

In addition to the occupancy payment, a resident may be required to pay legal costs, lease registration costs (including surveyor costs) and other charges payable to any external village trustee. Full details of these costs are contained in the retirement village disclosure statement which is available on request.

No stamp duty

Residents obtain a right to live in their home in a Freedom community under the terms of a long-term registered lease, therefore residents do not pay stamp duty.

The right to change your mind

21 day cooling-off period

Provided you do not move into your new home in the meantime, you can cancel your retirement village contract within 21 days of signing it without paying any penalties.*

Freedom’s 21 day cooling-off period runs concurrently with any other cooling-off rights you may have that apply to your entry into the Freedom community under the retirement villages legislation that applies in your State.

Settling-in Period – Your Money Back Guarantee

NSW

If you change your mind after moving into your home in a Freedom community, then provided you terminate your retirement village contract within the first 90 days from the date you moved into the community, Freedom will refund your occupancy payment paid to Freedom with no exit fee payable.*

Other States (QLD & VIC)

If you change your mind after moving into your new home in a Freedom community, then provided you terminate your retirement village contract within the first 60 days from the date you moved into the community, Freedom will refund your occupancy payment paid to Freedom with no exit fee payable.*

*Terms and conditions apply. Other costs may be payable.

2

Living in

Just like living in any residence, living in a retirement community involves ongoing costs

Service Fees

Residents pay service fees on a weekly, fortnightly or monthly basis as a contribution to the day to day running costs of the Aveo community. The setting of service fees, including the annual budgeting process, occurs in accordance with the retirement villages legislation that applies in the State in which the community is located.

Service fees vary by Aveo community and can vary by the type of home you choose within a community. Please ask a sales consultant for the service fees that apply to your chosen home in the Aveo community. Details of the services fees payable are also included in the retirement village disclosure material issued to prospective residents.

To find the service fees for a particular community, please call 1800 957 940 to speak to one of our friendly staff.

Services fees cover things such as the costs of:

Community Staff
Cleaning, maintenance & repair of community areas
Maintenance of community gardens
Council rates
Community activities

Service Fees

Residents pay service fees on a weekly, fortnightly or monthly basis as a contribution to the day to day running costs of the Freedom community. The setting of service fees, including the annual budgeting process, occurs in accordance with the retirement villages legislation that applies in the State in which the Freedom community is located.

Service fees vary by Freedom community and can vary by the type of home you choose within a community. Please ask a sales consultant for the service fees that apply to your chosen home in the Freedom community. Details of the services fees payable are also included in the retirement village disclosure material issued to prospective residents.

To find the service fees for a particular community, please call 1800 957 940 to speak to one of our friendly staff.

Services fees cover things such as the costs of:

Community Staff
Day to day maintenance & repair of community areas
Cleaning & gardening of community areas
Council rates
Community activities

Meals Fee

In each Freedom community, residents are provided with delicious daily meals. Depending on the community you choose, the costs of these meals are either included as part of the service fees or a separate charge.

At all Freedom communities, the cost of providing meals is charged by Freedom on a cost recovery basis only.

Care and support

Freedom community residents are assigned their own care manager who develops and maintains a care plan based on their assessed personal care needs. Home care is delivered by Freedom’s home care team who are there for residents throughout the day and night.

There are two payment options available:

The Freedom Care Program

The Freedom Care Program allows residents to pay the same weekly Freedom Care Program fee regardless of whether their assessed care needs change over time.* The amount of the Freedom Care Program fee is reviewed annually.

In addition to the Freedom Care Program fee, there are additional charges for care related consumables. Consumables can include, among other things, major dressings, mobility aids, continence aids and oxygen concentrators.

Residents who received the Commonwealth or DVA age pension may be eligible to defer all or part of the Freedom Care Program fee.*

*Terms and conditions apply.

Fee for service (also known as ‘user-pays’)

Residents in Freedom communities who do not wish to participate in the Freedom Care Program receive personal care services for their assessed care needs on a fee for service basis under a personal services agreement. Care and other services are charged at agreed hourly rates. 

In addition to service charges, residents pay:
•    a weekly care access fee as a contribution to the costs of making the care services available to them.
•    charges for care related consumables. Consumables can include, among other things, major dressings, mobility aids, continence aids and oxygen concentrators.

3

Leaving

When it comes to leaving the community, we want to make this process as easy as possible for you.

Exit Fees

The exit fee (also known as a deferred management fee ‘DMF’ or departure fee) allows a resident to move into an Aveo community and benefit from the communal facilities, management and services. The exit fee is deferred and deducted when a resident’s occupancy payment is refunded to them. In essence, residents can enjoy now, and pay later.

The exit fee, which is one of Aveo’s only forms of income, is used to keep our business strong and ensures we can continue to provide the lifestyle our residents enjoy now, and into the future. Depending on the retirement village contract you choose (Aveo Essentials, Aveo Way and Aveo Certainty) the exit fee is calculated over the first 2, 3 or 5 years of living in your home in an Aveo community and is capped at 25% or 35% of the occupancy payment you have paid. The exit fee may contribute to:

Capital improvements within the Aveo community
Infrastructure upgrades within the Aveo community
Support of Aveo staff
Facilities provided to the Aveo community

Aveo Certainty Membership Fee

A membership fee of $2,000 per annum applies to our Aveo Certainty retirement village contract option. This fee allows you to access certain transfer options and is paid when your exit entitlement is paid to you. See our Contracts page for further details of the available transfer options.

No hassles when leaving

No sales commission and marketing costs

You will not be charged any sales commission or marketing costs by Aveo or Aveo Real Estate related to finding a new resident for your home after you leave the Aveo community.

Guaranteed settlement

If a new resident is not found for your home, Aveo will refund your occupancy payment less fees after six or 12 months, depending on your retirement village contract option and the location of your Aveo community. This gives you real peace of mind of having certainty of when your funds will be paid to you.

No refurbishment costs

Neither you nor your family want to be burdened by any renovations to the home. That’s why when it’s time to find a new resident for your home, Aveo will take care of, and pay for any works that we think are needed to prepare your home for a new resident (this is provided you do not intentionally damage or make changes to your new home).

Financial certainty

Aveo’s retirement village contracts are designed to allow residents to know exactly how much their exit entitlement will be when the time comes to leave the Aveo community. This gives you peace of mind as you won’t be exposed to the fluctuations in any property market.

Exit Fees

The exit fee (also known as a deferred management fee ‘DMF’ or departure fee) allows a resident to move into a Freedom community and benefit from the communal facilities, management and services. The exit fee is deferred and deducted when a resident’s occupancy payment is refunded to them. In essence, residents can enjoy now, and pay later.

The exit fee, which is one of Freedom’s only forms of income, is used to keep our business strong and ensures we can continue to provide the lifestyle our residents enjoy now, and into the future. The exit fee is calculated over the first two years of living in your home in a Freedom community and is capped at 35% of the occupancy payment you have paid. The exit fee may contribute to:

Capital improvements within the Aveo community
Infrastructure upgrades within the Aveo community
Support of Freedom staff
Facilities provided to the Freedom community

No hassles when leaving

No sales commission and marketing costs

You will not be charged any sales commission or marketing costs by Aveo or Aveo Real Estate related to finding a new resident for your home after you leave the Freedom community.

Guaranteed payment timeframes

If a new resident is not found for your home, Freedom will pay you the monies owing to you from your retirement village contract (known as an ‘exit entitlement’) after six or 12 months, depending on the location of your Freedom community. This gives you real peace of mind having the certainty when the exit entitlement will be paid.

No refurbishment costs

Neither you nor your family want to be burdened by any renovations to the home. That’s why when it’s time to find a new resident for your home, Aveo will take care of, and pay for any works that we think are needed to prepare your home for a new resident (this is provided you do not intentionally damage or make changes to your new home).

Financial certainty

Freedom’s retirement village contracts are designed to allow residents to know exactly how much their exit entitlement will be when the time comes to leave the Freedom community. This gives you peace of mind in an uncertain market.

4

Your choice of contracts

We appreciate that everyone’s different, with different needs and circumstances. That’s why we offer you a choice of 3 contracts. They each let you enjoy the retirement lifestyle you want today. The choice is yours.
Explore Contract Options

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