ACCOMMODATION TYPES
Accommodation in Retirement Villages
Retirement villages offer a variety of accommodation types to suit different preferences and needs. These can include:
- Units
- Apartments
- Villas
- Townhouses
- Freestanding Homes
Accommodation is typically under these three categories:
Independent Living Units– Designed for those who can live independently, often featuring additional safety features such as handrails and emergency call buttons.
Serviced Apartments – Provide extra services and support while still allowing for independent living.
Hostel Accommodation – Offers more assistance and communal living arrangements.
AGED CARE
Retirement Villages and Aged Care
It’s important to note that retirement villages are not the same as residential aged care facilities. While some villages may have aged care services on-site or nearby, being a resident in a retirement village does not guarantee access to these facilities.
Eligibility for residential aged care is determined separately by Aged Care Assessment Teams (ACAT), and entry is subject to Commonwealth regulations.
Current residents seeking aged care services will need to be assessed by Aged Care Assessment Teams (ACAT). Consequently, placement in an aged care facility is not assured by the village operator.
OWNING
Ownership and Occupancy
In Western Australia, retirement village ownership and occupancy rights vary based on the contract between the resident and the village operator. Contracts may include:
- Strate Title:Allows residents to purchase ownership of a specific portion of land or a building.
- Purple Title: Provides residents with an undivided interest in the entire retirement village, making them co-owners.
- Lease/License: Grants long-term rights to occupy the premises without ownership. Leases or licences may or may not be registered on the property title.
- Other Arrangements: This category includes shareholder and company title arrangements.
RENTING
Rental in Retirement Village
Many retirement villages offer rental options alongside purchase and lease arrangements. Some villages cap rents as a percentage of income, making retirement village living accessible to individuals with lower incomes and fewer assets. Rental residents may be eligible for Commonwealth Rent Assistance. Note that rental agreements in retirement villages are not governed by the Residential Tenancies Act.
While ownership or leasing might seem the primary concern, it’s essential to recognize that strata and purple title villages can have similar terms to lease villages. These may include conditions on resale and substantial exit fees. Additionally, purchasing in a strata or purple title village may involve extra costs, such as transfer duty and ongoing charges until the unit is sold.
built by mition