Why do people choose to live in a retirement village?
The retirement village lifestyle offers many benefits, including:
- The companionship and social interaction that thrives in a village community
- The sense of safety enjoyed because of the added level of village security
- The removal of the burden of home and garden maintenance
- The freedom to lock-up and go away on holiday without having to worry about
- Peace of mind, knowing that there is assistance available 24 hours a day, seven
days a week
- Access to a range of facilities for the exclusive enjoyment of village residents.
Are there any special requirements to becoming a Resident?
Yes. At the time of entering the Village, residents must be 65 years old and able to cope with the day-to-day running of an independent home.
Is there security around the clock?
All units have call buttons that give immediate 24 hour emergency response. Along with this we actively encourage a "Neighbourhood Watch” Programme in the Village.
Can I have my own garden?
Yes. Waiheke Retirement Village grounds are beautifully landscaped to harmonise with the environment of the Village and we encourage our residents to take an active part in their development and maintenance. In conjunction with the landscaping, specific garden plots are located around the property for the resident's own use. Garden pots can become a tripping hazard, so the number of pots that you are permitted to have is two per deck. Please ensure that a dish is placed under each pot.
Can I have a pet?
Yes, but you will need to obtain the Village Manager's approval to keep a pet at Waiheke Retirement Village. We will be considerate of your needs as we recognise the value of pets and the companionship they provide. However, any pet must not intrude on any other resident's quiet enjoyment of their home and of the village amenities.
Can my friends and family stay with me?
Yes, your unit/villa is your own home so naturally you can have visitors at any time, however, your guests are not allowed to stay with you permanently. Your guests may use any of the village facilities during their stay, but they must be considerate of the other residents in the village. All guests using the swimming pool or spa must be accompanied by a resident.
What happens to my home when I go on holiday?
We will ensure your home is looked after. It is your own home and therefore you may come and go as you please. One of the many advantages of Village living is that you can go on holiday for a week, a month or a year, with the peace of mind of knowing that your home will be secure and maintained. All we ask is that you advise us of any extended period of absence or of any change of plans you may make while you are away.
Are there any "hidden" restrictions?
No, in fact, quite the reverse. Waiheke Retirement Village will remove the burden of many of the chores and responsibilities that now consume your time and restrict your freedom. The only "limitations", if you could call them that, are those that are a normal part of Village life, these are the small considerations and courtesies which any caring community would extend to their fellow Villagers.
A Village Compendium is provided to residents when they move in, which provides an informative A to Z for the Village, including hours of operation and rules for the common facilities. A full list of rights and obligations is also set out in the Disclosure Statement.
What is the Weekly Fee and what does it cover?
Residents are required to pay a Weekly Fee which is a contribution toward the general costs of operating Waiheke Retirement Village. An example of the costs covered by the Weekly Fee include:
- Council rates
- Insurances for buildings and other risks
- Operating costs of the community facilities
- General building maintenance and upkeep of community facilities
- Staffing costs, including village management.
The Weekly Fee, which is set at the time you enter the Village, is a fixed amount for your entire period of occupancy of your unit/villa, The Weekly Fee will not be varied regardless of any changes to the operating expenses of the Village.
Does the Weekly Fee continue indefinitely?
No, we believe that Weekly Fee charges should not continue to be charged indefinitely and after the resident has left the unit/villa.
The Retirement Villages Act 2003 requires the Weekly Fee charge to reduce by 50% six months after you vacate your unit/villa; we have gone one step further by stopping the Weekly Fee completely at nine months.
What other expenses will I be responsible for?
You are responsible for your private utility charges such as electricity, telephone, contents insurance, appliance maintenance and any medical, hairdressing and other personal requirements. You are also responsible for the interior maintenance of your home, including the fixtures, fittings and Operator's chattels.
What is the Deferred Management Fee?
As you can imagine, building and maintaining the shared facilities and Village infrastructure such as the community centre, indoor heated pool, petanque court etc and the extensive landscaped grounds requires on-going expenditure for refurbishment, upgrades or replacements. These amenities are for the benefit of everybody - the Deferred Management Fee shares the cost equitably among all the residents.
The amount any single resident is required to contribute is 10% per annum of the Entry Payment for the first three years of occupation to a maximum of 30% of the Entry Payment. This is not an additional upfront fee as it is deducted following termination of your Occupation Right Agreement and at completion of settlement to a new incoming resident.
Once the Deferred Management Fee is fully accrued, it will not be charged again.
What happens about ongoing care as I get older?
We can help you access a full range of care services through the Waiheke Health Trust.
What help is available should I need it?
Your unit/villa is equipped with a 24-hour emergency call system and you will receive prompt attention in an emergency. Also, home help is available in your own unit/villa on a user pays basis.
How are my interests protected?
The Occupation Right Agreement (ORA) is a contract between you and the Village and it sets out your right to live in your unit/villa and to enjoy the services and facilities at Waiheke Retirement Village.
The Retirement Villages Act 2003 requires each village to be registered as a retirement village under the Act, at which point, a Memorial Notice is registered against the title to the village property to ensure that the village land will always be used as a retirement village. Such a notice has been registered over the title to Waiheke Retirement Village's land. In addition, your interests are protected by means of a Memorandum of Encumbrance which is registered on the village title and is held in the name of Covenant Trustee Services Limited, the Statutory Supervisor, The Memorandum of Encumbrance is like a first mortgage over the land and acts as security for the performance of the Operator's responsibilities under the ORA.
Is there government legislation regulating retirement villages?
The Retirement Villages Act 2003 and its regulations are designed to protect residents' interests and set out the basic standards for operating a village. These include disclosure of information to intending and existing residents, protections around residents' financial interests, the details of termination arrangements, the relationship between the owner and residents, methods of dispute resolution, and residents' rights.
More information about the Retirement Villages Act 2003 and its regulations can be found on the following government websites:
http://www.adbh.govt.nz/seniorline (Auckland District Health Board) http://www.retirementvillages.org.nz (Retirement Village Association)
http://www.cffc.org.nz (Commission of Financial Capability)
What is the Code of Practice?
The Retirement Villages Act 2003 requires each village to observe a Code of Practice which sets out minimum standards around how the village operates. These include:
- Staffing of the village
- Safety and personal security of residents
- Fire protection and emergency management
- Transferring residents within a village
- Maintenance and upgrading
Terminating the Occupation Right Agreement by either the operator or resident . Communications.
A copy of the Code of Practice will be provided to you when you complete an Application for an Occupation Right Agreement.
Who is the Statutory Supervisor?
The statutory supervisor is an independent professional organisation approved by the Registrar of Retirement Villages who is responsible for monitoring the village's financial position, the security interests of residents, and the management of the village. The statutory supervisor intervenes on the residents' behalf where necessary.
Covenant Trustee Services Limited has been appointed as the statutory supervisor of Waiheke Retirement Village under a Deed of Supervision, to ensure that Waiheke Retirement Village meets its obligations to residents. These obligations are set out in your Occupation Right Agreement and the Disclosure Statement.
Will I have a say in the running of the Village?
Yes. The Waiheke Retirement Village Residents' Committee is made up of resident representatives elected by the residents themselves. The Committee acts as the residents' voice to liaise with Village Management and plays an important role in the smooth running of Waiheke Retirement Village. The Residents' Committee meets regularly with the Village Manager and can raise any issues on your behalf.
Above all, you are always welcome to talk with the Village Manager about your issues, rights and requests at any time.
Is there regular financial reporting to residents?
Yes. The Operator annually submits financial reports to all residents at the Annual General Meeting. These reports include prior year profit and loss accounts and coming year forecast. These accounts are reviewed by the company Auditors, the Statutory Supervisor and the Companies Office. The Statutory Supervisor also requests a quarterly financial update from the Operator during the year.
What happens if I decide that Village life is not for me?
If, for some reason you choose to leave the Village, you will receive back the original purchase price of your home, less a Deferred Management Fee of 10% for each of the first three years of occupation, and any other deductions allowed under your Occupation Right Agreement.
The balance is refunded to you no more than five working days after the Manager has received payment for your unit/villa from a new resident.
Are there any hidden costs when I leave?
There are no hidden costs. You are not required to pay for any administration or sales and marketing costs when we sell your unit/villa.
Who pays for the refurbishment of the unit/villa when I leave?
We are responsible for all refurbishment costs associated with bringing your unit/villa up to a standard suitable for sale. However, if there is any damage, including damage by pets or through smoking, or unreasonable wear that is beyond fair wear and tear, then you will be responsible for that portion of the costs as determined through an independent assessment.
What happens if my unit/villa doesn't sell straight away?
The Weekly Fee will reduce to 50% if a sale is not reached within six months and then will stop completely at nine months of you leaving Waiheke Retirement Village. In addition, if a sale takes longer than nine months after you leave the Village, we will pay interest on the Exit Payment entitlement due to you.
How do I apply for a unit/villa at Waiheke Retirement Village?
When you have made the decision to move to Waiheke Retirement Village you will be required to complete an Application Form.
During the application process we will take the time to discuss your situation and ensure that we have explained the way Waiheke Retirement Village will operate and answer any questions you may have. We will provide you with:
a copy of the form of Disclosure Statement
- a copy of the form of Occupation Right Agreement
- the Code of Residents' Rights
- the Code of Practice, and
- our Complaints Policy.
You may also request a copy of the Deed of Supervision. We know it is a lot of reading, but we want you to be comfortable that, based upon the information provided, you have made the right decision.
We will also give you a medical form to take to your doctor to complete and for your doctor to confirm that a retirement village is a suitable place for you to live and for us to assess whether we will be able to accommodate any health issues you may have.
What happens after I sign an application?
When the Application has been completed, we will arrange for documentation to be sent to your Lawyer. We will contact you to let you know when the documentation has been sent to your Lawyer so you can make an appointment to sign your Occupation Right Agreement ("ORA"). You must obtain independent legal advice before you sign the ORA so that the ORA is fully explained to you.
A deposit of $5,000 made payable to Covenant Trustee Services Limited may be required at the time of signing the ORA with your Lawyer. No further financial commitment is required until you move to Waiheke Retirement Village.
What is the cooling-off period?
If you change your mind after you have signed the ORA, you may withdraw from the purchase if you provide written notice to us within 15 working days from the time you signed the ORA. This 15 working day period is called the 'cooling-off period'. If you decide not to proceed with your ORA during this period, your total deposit will be refunded to you (with interest) within five working days.
How do I find out more information about Waiheke Retirement Village or the availability of any units/villas?
Should you require any further information, please contact us on:
09 372 2820