Frequently asked questions.
Are there any documents I can read to help me understand about living in the Ngunguru Retirement Village?
You must be provided with the following documentation – these can be accessed by clicking on the document name or alternatively you can contact us to receive the documents by post:
Occupation Right Agreement -The agreement is between you and the Ngunguru Retirement Village Trust (Village Management), this allows you and your spouse/partner to live in the Village under the terms and conditions of the agreement, and includes a code of residents' rights.
Disclosure Statement – This document contains important information relating to the Village including fees, management structure and contact details.
Code of Residents Rights – this is included in the Occupation Right Agreement Document.
Retirement Village Code of Practice
Will I own my home?
The form of ownership in this Village, as is the case in the majority of Retirement Villages, is a 'Licence to Occupy', under the Occupation Right Agreement. This gives you and your partner/spouse the right to live in the Village (under the terms and conditions of the Occupation Right Agreement) for your lifetime, it does not give you title ownership.
How much will it cost me to enter the Village?
You will pay the agreed market value for the home plus a one off 'Site Licence fee – this fee is currently 10% of the purchase price or $25,000, whichever is the greater amount.
How much will it cost me to reside in the Village?
A monthly Village Outgoings Fee is charged per dwelling – currently this is $335.00 ($83.75 per week).
This fee covers:
* Grounds Maintenance
* Administration Costs
* Dwelling Insurance
* Filtered Water Supply
* Rubbish Collection and Garden Waste
How much will it cost me to leave the Village?
Your Occupation Right Agreement explains any charges which may be applicable when you leave; the Ngunguru Retirement Village does not apply any 'fixed deductions'.
What happens to any Capital Gain on the property?
The resident is entitiled to any capital gain earned on the sale of the home under the terms of the Occupation Right Agreement.
Am I eligible to live in the Village?
The most important requirement for anybody wishing to enter the Ngunguru Village is a good sense of humor! Other than that you or your spouse/partner need to be 60 years young and be able to live independently.
How can I be sure my investment/Village Lifestyle is secure?
Covenant Trustee Services have been appointed as Statutory Supervisor for the Ngunguru Village. Their role is varied – in particular they monitor the Villages financial position, ensure the management meets its obligations to Residents and they also act as a stakeholder for all money passing between incoming and outgoing Residents to ensure everyone receives their entitlements.
As well as the Statutory Supervisor monitoring management there are positions available for three Village Residents to become trustees and part of the Village Management.
What if I want to do any additions or alterations?
Because there are financial as well as lifestyle benefits to Residents and the Village in keeping homes and gardens updated and in top condition, Residents' may apply to the Village management for approval to make additions or alterations at their own cost.
Can I have friends and family to stay?
Everyone wants a beach holiday! Of course you may have friends or family stay in your home with you for short periods. The management needs to be advised of intending visitors and written permission from management must be received if visitors intend to stay longer than three weeks.
Are pets allowed?
Cats or dogs are not permitted; other pets are at the discretion of management.
Can I rent out my home?
No all homes must be occupied by the Occupation Right holder.