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Independent Living Units
A one-off Accommodation Licence is levied in an amount determined by the type of accommodation provided as set out below:
TYPE OF ACCOMMODATION |
PRICE |
| One Bedroom Units |
$235,000 |
| Two Bedroom Units |
$260,000
|
| Two Bedroom Units with garage |
$280,000 |
With Independent Living Unit Licences, residents enjoy a 50% share of any capital gain or loss when they permanently vacate the village.
When the Licence is terminated the departing resident receives the amount they paid for the Accommodation Licence LESS the Non Refundable amount, LESS a Deferred Management Fee (DMF) PLUS 50% of any capital gain.
The deductions are calculated as follows:
- The Non Refundable amount is 10% of the price of the Licence, the balance is called the Ingoing Contribution
- The DMF is 2.5% of the Ingoing Contribution per annum for a maximum of 10 years
Independent Living Unit residents pay a weekly Maintenance Fee of $62.80 (based on the July 2011 to June 2012 village budget).
No other fees, such as rates, taxes or village maintenance, are payable.
Serviced Apartments
A one-off Accommodation Bond is levied in an amount determined by the type of accommodation provided as set out below:
TYPE OF ACCOMMODATION |
PRICE |
| ‘Classic’ Serviced Apartment (single accommodation) |
$180,000 |
| ‘Contemporary’ Serviced Apartment (single accommodation) |
$180,000 |
| 'Contemporary For Couples’ Serviced Apartment (includes a second room providing 50% more space than the Contemporary, so making it ideal for couples) |
$270,000 |
With Serviced Apartments, when the Bond is terminated the departing resident receives the amount they paid as an Accommodation Bond LESS the Non Refundable Amount.
- The Non Refundable amount is 10% of the price of the Licence, the balance is called the Ingoing Contribution.
Serviced Apartment Residents pay a fortnightly Services Fee being:
For individuals –87.5% of the standard maximum aged single pension
For couples –87.5% of the standard maximum aged couples pension
No other fees, such as rates, taxes, village maintenance, or electricity are payable.
With respect to the security of your Licence or Bond, a statutory charge is created over the land of JMRV, following its registration as a retirement village scheme under the Retirement Villages Regulation 2009 (under the Retirement Villages Act 1999 NSW) (the Act). The statutory charge protects the repayment by Jenny MacLeod Retirement Village to each resident of the resident’s exit entitlement.
This Federal Act provides that the statutory charge is given priority over all registered securities in or over Jenny MacLeod Retirement Village. This priority prevails regardless of whether or not another mortgage was registered before the statutory charge was notified to the register of titles.
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