Most Oak Tree Retirement Villages, except where specified, operate under a licence to occupy or deferred management fee (DMF) scheme. This is an arrangement whereby the village owner, that being Oak Tree Retirement Villages, retains ownership of the property.

Purchase Price/Ingoing Contribution

When you purchase a villa at Oak Tree, you purchase a licence to occupy your villa for life. You do not purchase the title to your property. The amount you purchase your villa for is referred to as your ingoing contribution. This ingoing contribution allows you to live at our village, and enjoy the village community facilities, for as long as you wish.

Weekly General Service Fee

As is the case in all Retirement villages, residents contribute to the overall costs of maintaining and operating the village. These costs are known as the General Services Fee.

This charge covers expenditure such as council rates, on-site management, building insurance (but not contents), the upkeep of village infrastructure (external painting and repairs) and maintaining the gardens of the common areas of the villages costs associated with the village administration.

Exit Fee

An exit fee is payable at the time of resale of your villa (i.e, when you leave the village). Oak Tree’s fee structure is slightly different for each village but is most commonly set at 5% per annum up to a maximum of 40% over eight years. The exit fee is calculated on the selling price of your villa. This allows you to enjoy in the capital appreciation of your villa.
Example:

For exact exit fees and general service fees, please contact the enquiry line on 1300 367 155.

Capital Replacement Fund

Oak Tree Retirement Village is required to keep a capital replacement fund for the replacement of the village’s capital items. Oak Tree is solely responsible for the contributions to this fund. Capital items include all buildings and structures owned by Oak Tree such as communal facilities, amenities and accommodation villas. It also includes village infrastructure such as roads, paths, landscaping, water services, sewerage services, drainage and electrical distribution systems.

Special conditions of entry

To reside in Oak Tree Retirement Village it is a requirement that:

• You are capable of living independently
• You, or if part of a couple, at least one of you, must be over the age of 65.