Question 1

What is the Monthly Service Fee?

Accepted Answer

This fee is payable monthly in advance and contributes towards the outgoings of the village. These costs are currently $412.50 per calendar month, per home including GST. Anticipated annual increases will not exceed C.P.I. levels, in accordance with the Retirement Village's Act 1986.

Question 2

What are the regulations as to ownership?

Accepted Answer

As a general rule, all residents must be 55 years of age or over. If the owners are married, only one needs to be of the minimum age. Family trusts for family members may also own a home. In this case the approved occupant/s must meet minimum age requirements.
Each purchaser will receive:
- Certificate of Title
- An undivided share in the common property
- Full use of the recreational facilities, subject to the village management agreement.

Question 3

What is the purpose of the Owners Corporation?

Accepted Answer

The Owners Corporation Act 2006 provides for the management, powers and functions of owners corporations; and to provide for appropriate mechanisms for the resolution of disputes relating to owners corporations; and to amend the Subdivision Act 1998 in relation to the creation of owners corporations. The Owners Corporation has delegated its powers and functions to a managing agent known as Dandenong Valley Retirement Village Management Pty. Ltd. which manages the village on behalf of the residents.

Question 4

What are the management's obligations?

Accepted Answer

To provide maintenance to all community facilities, including furnishings, refurbishment, heating and cooling where applicable. To maintain all common grounds, paths, driveways, roads and all street lighting.
To provide a 24 hour medical emergency call facility and insurance cover for all buildings and public risk insurance.
To provide management staff to carry out administration and maintenance duties and to arrange for further regular ancillary services to be provided as required on a user-pay basis, such as hairdressing etc.
The obligations of the manager are set out in the Management Agreement which forms part of the contract documentation.

Question 5

What are the owner's financial obligations?

Accepted Answer

a) A monthly service fee being a contribution towards costs of maintenance and services provided.
b) The Deferred Fee payable at resale or transfer.
c) Refurbishment/renovation costs if applicable at resale or transfer.
d) A resettlement fee of $4,400 inc GST at resale is applicable (if the village assists in finding a new resident/buyer).
e) A contribution towards the provision for Major Maintenance Fund of the village payable on the resale or transfer of the unit.

Question 6

What is the Deferred Fee?

Accepted Answer

This is a fee which accrues during the period of ownership but only becomes payable when a home changes ownership/occupation. It is common practice in the Retirement Village industry to charge such a fee.
The deferred fee is calculated against the selling price of the home at 2.5% for each year, or part year, of ownership. A maximum fee of 25% applies for 10 years or more.
Example: Take a residence which was originally purchased for $100,000 and was sold after five (5) years for $130,000.
The 2.5% per year deferred fee on $130,000 would therefore equal: $3,250 per year x 5 years = $16,250.

Question 7

Who has custody of Service Fees and Deferred Funds?

Accepted Answer

As discussed in the section “What is the purpose of the Owners Corporation?', the powers and functions of the Owners Corporation have been delegated to the village management company and all fees remain the property of Dandenong Valley Retirement Village Management Pty. Ltd. or Valley Village Holdings Pty. Ltd.
 
The administration of the management company is conducted in strict accordance with the Retirement Village Act 1986 which requires an annual audit and an annual meeting with residents provided specified financial information.

Question 8

What is the provision for a Major Maintenance Fund?

Accepted Answer

This fund is maintained for the purpose of paying for items of major repairs, maintenance and renovations to the common property, the communal facilities, communal areas, and the external surfaces of any building or structure at the village, and which are not required to be maintained, repaired or replaced by any resident. The owner's contribution is payable when the unit changes ownership, and is calculated at the rate of 0.5% (plus GST) of the price on a resale of the unit, for each year or part of a year that has expired from the date the owner enters into the deferred payment deed with the company until the contribution is paid (subject to a maximum of 5% plus GST).

Question 9

How is the purchaser protected?

Accepted Answer

Purchases are protected in the following ways:
 
* You remain the home owner with a title to bricks and mortar.
* You can therefore retain an appreciating asset.
* Your asset can be sold at any time.
* Proceeds of this sale can be willed or transferred without delay.
* When purchasing, a $1000 refundable deposit is required whilst you arrange the sale of your existing property.
* All associated costs of buying and selling are made known to you prior to signing a Contract of Sale.
* Contracts of Sale provide special conditions for the sale of your own home first.
* All Disclosure Statements, Vendor's Statements and Contracts of Sale are forwarded to your solicitor to enable counselling before you sign anything.
* Valley Village Retirement Community is committed to excellence. We have a duty of care to ensure compliance with the highest standards of service in the retirement village industry.

Question 10

What emergency support can I expect?

Accepted Answer

For your security at Valley Village, each home is equipped with a Tunstall safety alarm and portable pendant which is monitored 24 hours a day by competent call centre staff. Further detailed information in relation to the Emergency Call and Response System and Local Medical Service is included in a directory provided to new Residents.

Question 11

Do you have any security patrols?

Accepted Answer

Yes, security patrols are carried out after hours each night.

Question 12

Is a resident required to provide information on his/her medical condition and medication; if so who will have access to it?

Accepted Answer

Each resident is requested to supply personal and medical information which may be required in an emergency situation. Such information is treated as strictly confidential. This information is passed on to Ambulance/Hospital Staff only with your permission. Emergency support is provided by the Tunstall Group who will require additional personal information for their emergency call centre.

Question 13

Do I have a choice of doctor?

Accepted Answer

Yes. You are completely free to have the doctor of your choice. A medical complex is adjacent to the village plus several in the immediate vicinity providing medical support if required.

Question 14

If I become ill which major hospital is nearest to the Village?

Accepted Answer

Dandenong hospital is only minutes away from the village with South Eastern providing further hospital support. The Valley Hospital is also within close proximity.

Question 15

Are village residents eligible for council sponsored health and domestic support programs?

Accepted Answer

Yes, as a home owner/rate payer, village residents are eligible for such support programs as Meals-on-Wheels, home-help, district nursing services, etc. The village can assist in arranging these services if required.

Question 16

Are residents able to have overnight and short-term guests and can they use the community facilities?

Accepted Answer

Yes, it is your home to enjoy and short-term guests are welcome to enjoy the community facilities while in your company. For security reasons, management requests notification of guests staying over.

Question 17

Is there provision for guest car parking?

Accepted Answer

Yes, there are additional car parks throughout the village.

Question 18

Will a village residence be secure while residents are away for an extended time?

Accepted Answer

We ask that management be advised so that special security surveillance is exercised during a prolonged absence. Regular security patrols are carried out each night. Arrangements can also be made in relation to mail. Maintenance levies (service fees) are applicable during your absence.

Question 19

Is there adequate access to public transport and provision for private village transport?

Accepted Answer

One of the major features of Valley Village is its central location, with numerous public transport routes adjacent. The village courtesy bus also provides regular transport to shopping venues in the vicinity.

Question 20

Are pets permitted?

Accepted Answer

Yes. Management is very sympathetic to the attachment people have to pets and they are permitted provided their presence does not affect quality of life of the general community. Each request is assessed individually by management, who reserve the right to re-assess in the event of a serious problem arising.

Question 21

Are there internet facilities?

Accepted Answer

There is internet infrastructure within the units although it is up to the resident to organise their own service from an internet service provider.

Question 22

Is there a garden area for my personal use and who looks after it?

Accepted Answer

Each home has its own private rear garden, most of which are fenced. It is your responsibility to maintain this area. All common grounds are fully maintained by village staff. However if you wish to extend your gardening beyond your private area, you are very welcome to do so and we ask only that you discuss your plans with management.

Question 23

Are safety rails included?

Accepted Answer

In most homes, support rails are installed in the toilet, over the bath and in the shower.

Question 24

Are security doors standard?

Accepted Answer

Yes. All front doors are fitted with a security door. These can be accessed by the staff in the event of an emergency.

Question 25

Who is responsible for maintenance inside and outside of the home?

Accepted Answer

Village Management is responsible for external painting of the house, with the exception of any structural addition such as pergolas. Maintaining the rear garden area is the responsibility of the owner. Residents are responsible for all other maintenance including maintenance and repair of appliances.

Question 26

Can I make major interior and exterior changes to my house?

Accepted Answer

Yes. You are the title owner of your home and we encourage upgrades that enhance the liveability of your house. We ask that you fill in a modification request form prior to major works. This is to ensure you are engaging the correct trades, safety guidelines are followed, you're not being overcharged and that your updates fit in with the thematic visual look of the village. Management can advise the resident on tradesmen and best practices for updates.

Question 27

What insurances are required?

Accepted Answer

Management accepts responsibility for the payment of home insurance on all buildings, contents of common facilities and public liability cover. The insurance excess is the responsibility of the Resident unless otherwise organised. Residents are encouraged to organise private contents insurance cover from the provider of their choice.

Question 28

What on-going expenses are incurred?

Accepted Answer

1. A monthly service fee payable monthly in advance with an annual review in accordance with the current CPI.
2. As tenure by way of Strata Title, rates (council and water) are paid separately by each owner.
3. Personal living expenses such as phone, electricity, gas and internet are the responsibility of the owner.

Question 29

Who determines the resale figure?

Accepted Answer

The resale figure is determined by agreement between the owner/estate and management based on recent current market values and comparable sales within the Village. Should a dispute arise an independent Registered Valuer will be consulted. Achievement of the highest possible price is naturally a common aim of both the owner/estate and management. Refurbishment to mutually acceptable saleable condition is the responsibility of the owner/estate. This is usually organised by Village Management by mutual agreement.

Question 30

Does the owner/estate have the right to sell their unit through a Real Estate Agent?

Accepted Answer

Yes.

Question 31

Is there a Dispute Resolution Policy and Procedure in place ?

Accepted Answer

It is the role of Management to manage the affairs of the Village to enable residents to live in a secure and harmonious environment. Should any problems arise, Management and staff are able to assist in many ways to help resolve such problems. Through consultation with the resident, Management makes every effort to reach an amicable and sensible solution regarding all matters.
In the unlikely event of a dispute arising with no common-ground solution being reached, an independent arbiter can be involved should the dispute not be resolved internally.
A dispute Resolution Policy has been in place for several years and procedures comply with all relevant legislation.

Question 32

Questions unanswered?

Accepted Answer

Please get in touch via the contact page.(javascript:void(0)) Thank you.