Are the entry contribution arrangements for loan/lease arrangements different to entry contributions for title based villages?

Posted , 11:40 pm · In

The Retirement Villages Act 1986 (“the Act”) does not regulate the amount of entry contributions that a retirement village may charge, nor does it regulate the amount of deferred fees that a retirement village may charge. The village sets its own entry contributions and deferred fees. It is common for retirement villages to have exactly the same entry contribution and deferred fee arrangements regardless of whether the village has a title based scheme or a loan/lease scheme. The only difference is that in a title based scheme the resident has freehold title to their unit, rather than a lease.

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