Fees & payments
Retirement villages in Tasmania operate under the Retirement Villages Act 2004. At Southern Cross care we have units available for rental or by purchase of a lifetime lease.
Option to purchase a lifetime tenancy – Purchase of lifetime lease are not subject to Stamp Duty.
All units are subject to Deferred Management Fees. At time of accepting a villa, a $5000 holding fee is paid. When signing the Agreement, 10% of the purchase price of the villa is due and payable less the holding fee. Full and final payment is due 14 days after taking occupancy of the villa.
Settlement terms are negotiable.
Deferred Management Fee (DMF) explained –
A deferred management fee is a fee that is applied at the time of exiting your villa. The DMF is currently calculated at 5% over 8 years totalling a maximum 40% fee which is retained by Southern Cross Care.Service and maintenance charges explained – These charges cover rates and water supply and usage, all unit and village building maintenance including supplied appliances and fittings, garden maintenance, fire levy, sewerage costs, 24hr personal emergency alarm system, building insurance, lighting, communal facility maintenance and office & administration.
Download our Lifestyle Village Financial Fact Sheet here