Platz St, Toowoomba Financial Matters
Weekly Fees
The costs associated with operating the Village are funded by the residents through payment of weekly fees.
Your weekly fee will include two components:
- Your General Service Charge; and
- Your Maintenance Reserve Fund Contribution.
General service charges cover the day-to-day operational costs of running the retirement village and upkeep of the community facilities for the benefit of all residents.
Maintenance reserve fund contributions cover the regular maintenance and repair of the village’s capital items.
Additional costs
You will be responsible for additional costs of living in the Village, including:
- Your personal utilities (telephone, internet, electricity and gas – if applicable); and
- Your contents and vehicle insurance policies.
Please note: The current weekly fees may be subject to change in the future. While we expect to propose an increase in next year’s budget, at this stage we can’t confirm the amount. Ultimately, any increases above CPI are generally subject to the approval of residents so you have the assurance that the residents/your neighbours have the last say.
The Total Operating Costs funded by the Weekly Recurrent Charge include (but are not limited to):
- Council rates, water, waste and sewerage services;
- Air conditioning servicing (annually);
- Insurance of the Village's community facilities and the structural components of the villas;
- Management costs including the Village Manager and support team salaries;
- External pest control (annually);
- External maintenance of your villa;
- Internal maintenance (fixtures and fittings only) of your villa;
- Garden maintenance of all common areas and yards;
- Lights and power costs for common areas and the Village Centre;
- Administration costs including postage, printing, stationery and IT costs; and
- Taxes and statutory costs.
Departure Fee (Exit Fee)
Lifestyle Option
Our financial models are based on an upfront payment structure with an exit fee
- The maximum exit fee of 35% (accrued over 5 years) calculated on the Ingoing Contribution (your purchase price)
- 100% of capital gain or loss to Oak Tree
- Oak Tree to cover 100% reinstatement/renovation costs
- 6 month buy back guarantee
- 6 months settling in period
- No weekly fees after vacation
Or call us on 1300 367 155