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 license.
Rental options available -
Rental units are available at some villages.
Pensioners may be eligible for rental assistance from Centrelink. Service and management charges apply.
Option to purchase a lifetime tenancy -
Purchase of lifetime licenses are not subject to Stamp Duty.
All units are subject to Deferred Management Fees.
Settlement terms are negotiable.
Fifty percent share on capital appreciation on departure.
Deferred Management Fee (DMF) explained -
A charge of 5% of the purchase price per year for the first 5 years, and 3% per year for the next 5 years will apply.
After the tenth year of occupancy, no further deferred management fees apply.
This means that after ten years of occupancy, a maximum of 40% will be retained by Southern Cross Care.
Service and maintenance charges explained -
These charges cover municipal rates and taxes, water supply and usage, all unit and village building maintenance including supplied appliances and fittings, and garden maintenance.
Insurance on buildings and Southern Cross Care (Tas) contents is also covered. And 24-hour access to assistance for emergencies is provided.