Service or Maintenance Fees
A major benefit of living in a retirement village is the increased range of services that residents enjoy, from spacious and well-maintained community centres, through to pristine gardens and recreational facilities. A further benefit is the peace of mind that comes with higher levels of security. For example, many villages have 24 hour emergency support available, should it ever be required.
Village residents have the convenience of paying one monthly or fortnightly service or maintenance fee or charge that covers the costs associated with the lifestyle they enjoy at their village.
Instead of worrying about a multitude of bills relating to the cost of residing in your own home, one easy payment takes care of most costs including, in many instances, building insurance, water rates and Council rates.
Operators charge service fees on a cost recovery basis. Retirement village legislation in most states contains protections and controls to ensure residents are kept informed about the costs included in the service fees and changes to those costs over time. Costs will vary, depending on the extent and age of communal facilities and the type of services provided.
When looking for a retirement village, be sure to ask the Sales Consultant about what is and isn’t included in the service fees.
In freehold title retirement villages, residents may be required to pay owners’ corporation levies or body corporate levies in addition to the service or maintenance fees.