FAQs About Oak Tree Retirement Village Yeppoon
Oak Tree Retirement Villages is a group of villages aptly named, The Oak Tree Group. It is a privately owned, family company which was founded in 2004 to service the growing need for quality and affordable homes for Australia’s ageing population. Our aim is to provide real value for money for Australian seniors by continually setting the benchmark for delivering stylish, modern homes within retirement village communities. For more information about The Oak Tree Group please visit our corporate website.
The Oak Tree Group has villages stretching along the east coast of Australia from as far north as Cairns in Queensland, to as far south as Kingston in Tasmania. To view all Oak Tree Villages please visit our corporate website or follow our “Find Another Village” link.
If you or your loved ones are over the age of 55 (or if you have a partner who is) and you want a home that has a maintenance free yard, offers a range of convenient facilities, and you’re fit and healthy enough to live independently, then we would love for you to part of our Oak Tree community. Whether you are single or part of a couple, Oak Tree Retirement Village can offer the right balance of affordable living with the luxury of convenient facilities.
When you purchase a villa at Oak Tree you will purchase a licence to reside in your villa for life, rather than own the title to the property. When you purchase your villa you can live in the village and enjoy the community facilities for as long as you wish. Your rights are the same as if you owned the title of your villa. Our village is registered and operates in accordance with the Retirement Villages Act of Queensland and your tenure is 100% secure.
Make an appointment with our Village Manager who will provide you with additional information and answer any further questions you may have. Operators of retirement villages are required to provide intending residents with a Public Information Document (PID) that contains information about the facilities, fees & charges, maintenance reserve fund & capital replacement fund information, resident's rights & obligations, resale process, and village & accommodation information. You are required to sign a Resident Agreement as part of your sales contract.
You can keep your current home as an investment or choose to sell it. If you need to sell your house to raise funds for a new life in our village your contract with Oak Tree may be signed subject to the sale of your home. We normally allow 2-3 months for the sale to occur. If you don’t sell your home within this time frame then you, or Oak Tree, may elect to end the contract. If both parties agree you may be able to extend the contract, giving you the extra time you need to sell your home.
If you don’t want to miss out on buying your favourite villa you can reserve it with a $1,000 fully refundable deposit. Our Village Manager will work closely with you to ensure that the timing of selling your home and settling on your new villa flows smoothly.
You can customise your villa to suit your personal taste by making some changes to the interior/exterior. Please have a chat with your Village Manager first as you will need to get their approval. Oak Tree villas are built to a high standard so you can move straight in. You will need to budget for any additional changes you want to make to your villa.
Unfortunately no. Because you are purchasing a license to live in the villa, rather than a title (to own the property) you need to reside at your villa until the time you decide to sell.
All retirement village operators must work in line with specific legislation that protects the rights of residents, and because Oak Tree Retirement Village Yeppoon is located in Queensland we uphold the requirements of the Queensland Retirement Village Act 1999. In very broad terms, the purpose of this legislation is to clearly outline the rights and obligations of both residents and operators. It also aims to ensure that the operator provides you with enough information so you fully understand what those rights and obligations mean for you.
Oak Tree always places the interest and wellbeing of residents as a top priority. We are always here to answer questions and offer information upfront. You can contact us anytime or for more detailed information about the legislation, visit www.legislation.qld.gov.au or the Queensland Retirement Village Association website www.rva.com.au
Since you are purchasing a license to live in the villa, rather than a title (to own the property), your villa needs to be re-sold to a new resident over the age of 55. The proceeds from the sale of your villa can then be passed on to your estate.
Notify your Village Manager that you wish to terminate your license to occupy your villa. Your villa will then be assessed to determine if any refurbishment work needs to be completed to “make good” your villa prior to it being advertised for sale. Oak Tree will work with you to help you decide on a price, usually in line with current market value, and marketing will commence to promote your home. Oak Tree can manage the sale of your property for minimal selling costs, or you may choose to use an external Real Estate Agent.
As your resident agreement will advise, you are required to return your villa to a similar standard to that in which it was when you first moved in (capital improvements such as additional fans, curtains, external awnings etc which you may have added are excluded). Refurbishment costs are resident costs. Exactly how much you will be expected to outlay really depends on how long you have lived in the village and the level of wear and tear on your villa.
Similar to a Real Estate Agent, Oak Tree will coordinate a marketing program to effectively market your villa to the public. Some selling costs may be passed onto the resident, payable at settlement. If this is the case, the costs will be presented to the resident for approval prior to the marketing program commencing. Oak Tree Retirement Village does not charge commissions, unlike an independent Real Estate Agent.
Similar to a body corporate fee, weekly service fees cover costs such as council rates, Village Manager wages, building insurance, upkeep of the village infrastructure, lawn & garden maintenance and administration. You will need to budget for additional personal expenses such as electricity, telephone, contents insurance and any other chosen services you may wish to connect to your villa, such as Foxtel or the internet.
Oak Tree holds an Annual General Meeting with the residents to discuss and review the village operational budget. Typically, the weekly service fee only increases in line with CPI (the general average increase of costs across all goods and services), and when other expenses such as council rates increase. Oak Tree is committed to maintaining an affordable village levy and continually investigates opportunities to maintain quality trades and service people at affordable rates.
Most retirement villages in Australia will collect an exit fee. An exit fee is collected when you leave the village. At Oak Tree Retirement Villages this fee is used to pay for major capital works and improvements to the grounds and facilities that you and other residents enjoy. Your Village Manager can explain to you how the exit fee is calculated and what options are available to you.
While Oak Tree is an independent living village and does not provide health care services, we do have strong working relationships with several registered care providers who regularly visit our village to attend to the care needs of our residents. Your Village Manager can provide you with the contact numbers and help coordinate an assessment to ensure you receive appropriate help, whether you need it now or further down the track.
You can access an emergency assistance line 24 hours a day, 7 days a week. If you want access to this service, simply let us know before you move into the village and we can ensure the system is installed and connected for you. There are different emergency assistance packages available. Your Village Manager can discuss these with you and help you to make the right decision to accommodate your needs. This optional service has a weekly fee, paid directly to the service provider.
While we have no formal links with aged care facilities, we can introduce you to local care providers who will arrange an assessment of you to determine your care needs. Unfortunately entry into an aged care facility is based on a level of need, rather then an automated entry based on the fact that you live in a retirement village. Oak Tree can however, help cater to your care needs by coordinating external care providers to visit you at the village and perform an assessment of you to help you get the care you need.
The Village Manager is there to ensure the village runs smoothly on a daily basis. They oversee all maintenance issues, ensure the village is running on budget, and look after the general wellbeing of residents.
Your pet is part of your family and welcome in the village. Oak Tree has a pet policy that ensures all residents, including non-pet owners, feel at home and relaxed in our village. Before you start your life at Oak Tree you will need approval from the Village Manager before bringing a pet into the community.
Guests are welcome to stay with you in your villa. We just ask that residents let the Village Manager know so he is aware some “new faces” may be seen around the village. Your grandchildren are more than welcome to join you in using the village recreational facilities, just as long as you have your eye on them or they are supervised by an adult.
You can rest assured your home and garden will be looked after and your mail is secure. All we ask is that you please advise the Village Manager of how long you will be away so a close eye may be kept on your home and belongings.
The common grounds will be maintained by the village staff in accordance with the village budget. However, if you are a keen gardener please speak to your Village Manager about helping to take care of the garden outside of your villa.