Your Langton Park Questions Answered
Thank you for your consideration of Langton Park.
It is our pleasure to welcome you to our community and to have the opportunity
to show you around Langton Park. We welcome your questions and encourage you to ask David, our Village Manager, for further explanation.
If possible we are also happy to introduce you to some of our residents so you
can hear direct what it is like to live at Langton Park.
We understand the importance of this move and know that you will have many questions
to ask.
This guide contains a summary of the more important information that you will
need to know. While you will find it informative, these questions are only intended
as a guide and not as a substitute for your legal agreements which we will prepare
when you decide to take the next steps.
For more information on financial obligations or any further queries please contact us.
Can I move into a home now?
As homes become available they are offered to those applicants who have advised us that they are “ready to move or in the process of considering a move”. Please let us know when you are considering a move as we can secure your interest without a deposit while you make a decision on whether Langton Park is the right future for you and your family.
What type of homes are available at Langton Park?
We have a number of styles of home, the largest being a 2 bedroom home with Sunroom, and the smallest a 2 Bedroom, without a Sunroom.
Does Langton Park have an age criteria?
To become a Langton Park resident you need to be 55 years of age or over. It is also important that you are able to live independently, although we can help out with many things where required.
Does Langton Park have a pet policy?
Small Pets such as a small dog, small bird, indoor cats or fish are ideal choices for independent living units. One resident even has a turtle. In the interest of all residents, large or loud pets are not suited to living within the Langton Park independent living unit environs.
Does Langton Park offer Community Services?
Langton Park offers a range of services including:
- Administration of many of your normal home bills, ie building insurance, water rates, council rates with one easy payment per month automatically set up by you.
- Your community gardens fully maintained
- A maintenance man on call if you need maintenance items attended to
- We have a 24 hour medical emergency call system with ADT
What happens if I need more care?
Where or when a higher level of care is required we can liaise with your family and your General Practitioner to determine if outside services can be brought into your home. Some of these services can include the provision of meals, cleaning, laundry and personal care services as required.
Do the Homes have a garden?
All homes have a backyard that is secure and fenced and you are able to create your own garden. This also includes a small front garden outside your front entrance.
The greater areas of front gardens are on display for your own quiet enjoyment and that of your family and friends. We will plant, water, and maintain these larger front areas with our own chosen species of plants. Your rear gardens are for you to have your own choice.
Do I have full title to my home and what happens to my home if Langton Park is sold to another organisation?
When becoming a Langton Park resident you will be granted a licence to occupy the home with contractual rights under your Loan Licence Agreement. This is not a freehold title to the villa but a statutory charge over the home under the SA Retirement Villages Act, which provides residents priority over any other parties, to a refund of any refundable licence fees, which residents have paid. The operator of a licence based village is the party bound to provide the services, facilities and maintenance and the rights and obligations of residents are clearly set out in the Loan Licence Agreement and cannot be changed without your consent even if the owner/operator changes.
Do you charge a maintenance fee?
We do charge a maintenance fee to cover many costs, which include:
•council rates,
•water rates,
•emergency services levy,
•building insurance, workers compensation and public liability
•gardening in common grounds,
•painting, gutter cleaning
•public lighting,
•site security,
•electric gates
•repairs and maintenance to major items like storm water, air conditioning, hot water services
•Emergency Call System support
•Pest control
These fees range from $545 - $660 per calendar month including pension concessions. These fees are reviewed once a year.
Are residents responsible for any payments other than maintenance fees?
Residents are responsible for paying their electricity and telephone accounts as these vary by household. Household contents insurance is also the responsibility of the resident.
Types of villages
There are essentially two types of retirement village – resident funded and donor funded:
Resident Funded Village
This type of retirement village is owned and operated by the private sector or by a not-for-profit organisation on a commercial basis to produce a profit or surplus, respectively. The village is funded by the residents who ‘purchase’ their home under one of the tenure arrangements. The residents also contribute to the village’s capital infrastructure cost and to the cost of ongoing management.
Donor Funded Village
These villages are normally owned and operated by not-for-profit organisations. They include an element of charitable subsidy and entry is generally restricted to the needy.
Deposit or Entry Contribution?
Before moving into a village, you will need to pay an entry contribution which is refunded if you move out of the village. However, a deferred management fee usually applies that is deducted from the amount you receive back upon relicence of the home. This must be specified in the entry agreement or Residence contract. The cost of entering a village depends on the facilities and services offered and on the location. Monthly service and maintenance charges also apply.
To reserve a home, a deposit of $5000 is paid into Australian Executor Trustees account whilst you sell your home (if your contract is subject to sale). Should you change your mind within this specified time, the deposit will be refunded. If you enter into a binding arrangement with the village, the deposit will be part of the purchase price. In South Australia purchasers are entitled to a refund during a ‘cooling off’ period following the signing of a residency contract.
What happens upon vacating?
While the resale value will be determined by the market, there are factors in a retirement village that can add value to your home. These include sound management, attractiveness and the services and amenities available to enhance retirement living.
In addition, management takes the responsibility for the resale process and have skilled professionals in contact with potential buyers regularly.
Departure / Exit Fee
The village will deduct a ‘deferred’, ‘departure’ or ‘exit’ fee at the time of settlement of sale or re-occupancy of your villa. This fee forms part of the purchase price, but its payment is deferred until the end of the occupancy.
The amount is calculated using a formula that generally involves a percentage of yours/your successor’s entry cost multiplied by the number of years of your occupancy, and may include a proportion of capital appreciation. This is clearly stated in the residence contract.
The formula is set out below for reference:
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Exit Fee
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The Exit Fee is the Exit Fee Percentage set out below calculated upon the greater of the following:
(a) the Resale Price paid to us by a new Resident for a licence of your home; and
(b) the Ingoing Contribution that you paid to us for the licence of your home; and
(c) the Resale Value of a licence for your Home.
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Exit Fee
Percentage
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Period from the Commencement Date to the Exit Date
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Exit Fee Percentage that applies
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Less than 1 year (subject to the rights provided to you should you terminate this residence agreement within the Settling-In period) |
Rent of $400 per week |
| |
1 year or more but less than 2 years |
12% |
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2 years or more but less than 3 years |
19% |
| |
3 years or more |
25% |
| Capital Replacement Fund |
Per annum up to a maximum of 10 years |
1% |
Resident Committees
Most villages have a residents' committee which works with management to maintain or enchance the quality of village life. While participation is optional, it offers residents the opportunity to make a contribution to the village.
Government Legislation
Although states and territories have slightly different legislation to protect the rights of retirement village residents, all the legislation addresses a range of issues.
Legislation sets clear standards for managing, owning and operating villages, disclosing details and information about the village and supplying explanations on how the finances are run. The legislation also covers what is included in residency agreements. In SA there is the Retirement Villages Act which clearly sets out conduct for all operators and owners of villages.
Reputation and Research
It is important for everyone considering Retirement Village life to research the industry and their preferred village and the Operator of that village.
There is good information available from the Retirement Living Council, part of the Property Council of Australia, or on their website at www.retirementliving.org.au.
With regard to checking out the operator, ask lots of questions such as who owns the village, how long have they been in business and you could even ring the Government’s Office of the Ageing to determine if they have had any disputes or history that may be of concern.