Getting a little more support just got easier
Move with ease
Your quality of life is our priority, which means ensuring you have access to the support you need, when you need it.
We've designed a program that makes moving to a place that offers an extra helping hand a whole lot easier.
Questions? Speak to your friendly community team today.
1. Application and Eligibility
a. The Move with Ease offer (Offer) is open to eligible Aveo residents who reside in an Independent Living Unit (ILU) or Independent Living Apartments (ILA) or Serviced Apartment (SA) and who wish to move within the Aveo leasehold and licence portfolio due to a desire for more assistance in their daily living activities (Eligible Resident).
b. This Offer allows an Eligible Resident that resides in:
i. an ILU/ILA to transfer to a SA or Freedom Apartment (FA); or
ii. a SA to transfer to a FA only.
c. For avoidance of doubt, this Offer specifically excludes an Aveo resident moving from an:
iii. ILU/ILA to ILU/ILA;
iv. SA to SA;
v. FA to FA;
vi. FA to SA or ILU/ILA; and
vii. SA to ILU/ILA.
d. An Eligible Resident who does not meet the criteria in 1(b) above and wishes to transfer, will be considered by Aveo on a case-by-case basis and not necessarily on the same terms as the Offer.
e. The Offer is available for Eligible Residents until 31 December 2023.
f. The Offer only allows transfers to a SA or FA owned by Aveo that does not have a vacating resident. Certain apartments within this category may be ineligible.
g. Some Eligible Residents’ residence agreements may already have conditions that allow them to transfer within Aveo communities. Relevant residents are able to choose from their contractual benefits or this Offer.
2. Preconditions to move
a. The transfer can only occur when:
i. Aveo has agreed to the transfer and confirmed that the new home selected is available and eligible, in its absolute discretion;
ii. the Resident has agreed to the resale price and scope of work to be undertaken on their current unit;
iii. the Resident appoints and continues to appoint Aveo’s related real estate agent to sell the right to reside in the unit;
iv. the Resident undertakes and passes a care needs assessment or the applicable screening application with the Community Manager as part of the new home application; and
v. the relevant statutory disclosure and cooling-off periods have expired, the Resident has sought any legal and financial advice they wish to and signed and returned the resident contract and any personal service agreements in respect of their proposed SA or FA.
3. Current Home – ILU or SA
a. The deferred management fee and general service charges or service fees (also known as recurrent charges in some states) on the Resident's current home will cease being calculated and charged by Aveo in respect of periods after the date the Resident provides vacant possession of their current home and precondition 2(a)(ii) above has been met. Please see further details in item 4(d) in respect to the deferred management fee under your New Home contract.
b. The exit entitlement will be paid (or transferred as payment of the entry payment of the new home) on the exit entitlement date as defined in the Resident’s current residence agreement.
c. All other rights and obligations in respect to the Resident’s current residence agreement remain unchanged.
4. New Home – Serviced Apartment
a. A Resident must select a ‘Later’ contract for a serviced apartment located in a leasehold or licence Aveo Community, and a Freedom contract for an apartment located in an Aveo Freedom Community. Other Aveo contract options are not available under this Offer.
b. This agreement will include a 6-month buyback provision.
c. Any contractual cooling-off, money back guarantees or additional disclosure periods under the Later or Freedom contract will be removed. The statutory cooling-off, disclosure, and any settling-in periods will remain.
d. A Resident will receive a discount on the Deferred Management Fee/Exit Fee/Departure Fee (DMF). If the Resident has:
i. reached the maximum DMF on their current home's residence agreement, then a 10% DMF cap will apply to the new home residence agreement. For example, if the maximum DMF for the current home percentage is 35% and on the exit entitlement date of the current home residence agreement, a 35% DMF is payable, then under the terms of the new home's residence agreement a 10% DMF on the new home's entry payment will apply; or
ii. not reached the maximum percentage DMF under their current home's residence contract, then the Resident can transfer the balance of their DMF percentage from their current home's residence agreement plus 10% to their new home's residence agreement as a percentage cap of the DMF ordinarily calculated under the contract for the new home. For example, if the maximum DMF percentage for the current home is 35% and on the exit entitlement date of the current home's residence agreement, a 30% DMF is payable, then under the new home's residence agreement a capped 15% DMF on the new home's entry payment will accrue. The DMF will be subject to the cap but accrue in the usual way specified by the contract option.
e. If there is a difference between the exit entitlement from the current home and the entry payment of the new home and that amount is:
i. a negative number, Aveo will allow the Resident to defer the difference to exit of the new home. This means that a Resident is not required to pay any additional amount towards the entry payment for the new home on settlement of the new home; or
ii. a positive number, Aveo will refund the difference to the Resident on the exit entitlement date under the current home's residence agreement.
Example - a negative number The resident’s exit entitlement for the current home is $230,000 and the entry payment for the new home is $250,000. Aveo will not require the resident to pay the additional amount of $20,000 towards the entry payment for the new home on settlement of the new home. The amount will instead be deferred and payable on the exit entitlement date of the new home.
Example - a positive number The resident’s exit entitlement for the current home is $300,000 and the occupancy payment for the new home is $250,000. Aveo will refund the $50,000 to the resident on the exit entitlement date of the current home's residence agreement.
f. Aveo will cover the Operator’s legal costs associated with the transfer. To avoid doubt, if the Resident engages their own solicitor, the Resident is responsible for their solicitor’s legal costs.
*Terms and conditions applicable from 28/10/2021 and subject to change