We understand that our residents’ needs change. If living independently is no longer an option and you require the care of a nursing home or aged care facility, your Village Manager will work with your family and chosen healthcare professionals to help make your transition smoother.
Upon your request, we can support your transition to an aged care facility by paying the daily accommodation payment to your nominated aged care provider. The payments will be deducted from your exit entitlement and will cease once your villa has been resold or 85% of your exit entitlement has been used.
We understand that sometimes circumstances change. If you choose to leave your villa, you may move out at any time. We ask that you give appropriate notice (at least one month) to Oak Tree so that we can coordinate with you to make suitable arrangements for your exit from the village.
Your Lease will terminate automatically if you pass away (or if there are two of you named on the Lease for your villa, when the last of your passes away). If this occurs, our objective is to make the process easy for your family. We will deal with your executors in relation to the re-leasing of your villa and the payment of your exit entitlement to your estate.
Your Your direct debit payments for the weekly recurrent charges will cease after you vacate. Further recurrent charges for your villa will accrue for a maximum of 42 days (after you exit) and this accrued amount (plus any outstanding arrears) will be deducted from the exit entitlement payable to you (or your estate) when your villa is re-leased.
If your villa is re-leased before the 42-day period passes, your recurrent charges will only accrue up until the date that the new resident pays his/her ingoing contribution for the villa.
We will recommend a price based on recent sales in the village and the current market conditions at that time. You may set the new entry price for your villa or you may allow us to do so during the termination process.
If you appoint us as your agent to re-lease your villa, we will keep you informed of any progress. We will notify you of any offers to lease the villa and if you request, provide you with monthly updates covering:
When you vacate the village, you will be entitled to a payment which is referred to as your exit entitlement.
Your exit entitlement is generally calculated as the amount you paid when you entered the village (your ingoing contribution), less the exit fee payable by you.
However, your exit entitlement may be increased (or decreased) if you are entitled to share in any capital gain (or loss) in the value of your villa. That will depend on the terms of your Lease (because Oak Tree may offer different contract options in different villages). There may be further deductions from your exit entitlement for outstanding costs. Please refer to the Disclosure Statement or Lease for further details.
Your exit entitlement is normally payable within 14 days of the date on which the re-leasing of your villa to a new resident is settled. If your villa remains unsold after 6 months in the metropolitan area or 12 months in other areas, you may apply to the Department of Customer Service for an exit entitlement order to receive your exit entitlement.
You may only apply for an exit entitlement order if you have received an estimate exit entitlement calculation at least 30 days before making the application.
In the event of your death, your exit entitlement will be paid to your estate. In order to make this payment to your personal representatives, we will require a certified copy of the Grant of Probate or Letters of Administration.
You may have to pay a depature fee when you leave this village. Your exit fee is calculated on a daily basis in accordance with the terms of your Lease. The Exit Fee is normally payable when your Villa is re-leased to a new resident and is then deducted from your exit entitlement.
You may have to share any capital gains received with the operator of this village. This will depend on the terms of your Lease. For further information please contact your Village Manager.
You will be required to leave your villa in the condition that it was in when you commenced your lease (fair wear and tear excepted). We will cover the costs of refurbishing your villa.