Retirement Village Costs & Fees in Christchurch
Costs & Fees
Retirement Village Fee
This is a set weekly fee of $155 that covers all the outgoings of the village which include, but are not limited to, council rates, water rates, building insurance, external maintenance, upkeep of senior living community facilities, staff costs, gardening and management of the village. The village fee is increased annually by the same rate at which superannuation is increased. This treatment of the Village Fee ensures that you are protected from any increases in operating costs that are in excess of inflation.
Your Own Retirement Village Costs
You are responsible for the costs of internal maintenance, your power and phone bills and insurance on your house chattels and belongings.
The Retirement Villages Act 2003 is designed to provide improved protection for individuals who buy into retirement villages. If you intend to purchase you must get independent legal advice before signing your Occupation Right Agreement (ORA).