Broadmeadow Financial Matters
Weekly Recurrent Charge
Weekly fees are payable to support the operational costs of the village.
This fee is funded by residents through the payment of Weekly Recurrent Charges and cover the costs associated with the day-to-day management and maintenance of the Village.
Additional costs for you are your personal utilities (telephone, internet and electricity) and contents insurance.
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):
- Management and administration of the Village and provision for staff and contractors including a village manager and/or relief staff;
- Maintenance and repair of apartments in the Village (including internal fixtures and fittings) – subject to the Resident’s obligation to repair and maintain the Resident’s apartment (in accordance with the terms of the Resident’s Contract).
- Council rates, water, waste and sewerage services;
- Administration costs including postage, printing, stationery and IT costs; and Taxes and statutory costs.
- Air conditioning servicing (annually);
- Gas hot water to apartments and common areas:
- Lights and power costs for common areas and the Village Centre / recreation areas;
- Cleaning of common areas of the Village;
- Control and eradication of pests in the common property;
- Garden maintenance for all common areas;
- Insurance of the Village communal facilities and the structural components of the apartment;
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
You may have to pay a departure fee when you leave this village.
You may have to share capital gains received with the operator of this village.
Or call us on 1300 367 155