Before you move in

Who is Oak Tree?

The “Oak Tree Group” or “Oak Tree” is a private company group that develops and operates retirement villages. The founders of Oak Tree first started to develop (and operate) retirement villages in about 2004 and those founders are still directors and owners In the Oak Tree Group.

Our villages offer a safe, community-focused and low maintenance lifestyle that allows you to savour the finer things in life and get more out of your retirement.

What is the ownership structure of your villages?

We offer an affordable entry model that will help simplify the transition to your new home and lifestyle.

You will acquire a right to reside in the Village by entering into the "Loan and Lease Agreement" or "Loan and Licence Agreement". “Loan and Lease” or “Loan and Licence” are the most common purchase structures in the retirement village industry and one of those structures will be available in an Oak Tree village.

There are multiple benefits to those structures, including:

  • No Stamp Duty or GST will be payable by you;
  • Your exit fee will be deducted from your exit entitlement, and therefore is only payable once your villa has been resold to a new resident;
  • We will continue to maintain your villa and the village facilities and grounds;
  • We will continue to promote the village to new residents;
  • Oak Tree does not charge any commission to resell your villa; and
  • The reinstatement and renovation costs are limited in accordance to the Retirement Villages Act 1999 (QLD).

While you are purchasing a right to reside in the villa, your tenure is fully secure in accordance with the Retirement Villages Act 1999 (QLD).

Are there restrictions to enter the village?

Our communities are designed for like-minded individuals who are at a similar stage in their lives.

Residents are required to be over 55 years of age, or if there is more than one resident acquiring the right to reside, one of them is required to be over 55 years of age. Many of our residents have retired from working full or part time, however this is not a requirement.

Oak Tree offers independent living units. Accordingly, it is a requirement under our Residence Contract that you be able to live independently. Please do not hesitate to contact your village manager if you would like to discuss whether the community is suitable for you.

Does the legislation protect me in any way?

Oak Tree is a member of the Property Council of Australia and the Retirement Living Council.

We are committed to the Code of Conduct set by the council and the high standards required to be a member.

The retirement village legislation protects you in ways that include:

  • disclosure and cooling-off period during the contracting process;
  • restrictions on the process to determine (or vary) any weekly fees payable by you;
  • rights in relation to the resale of your villa;
  • limits to the reinstatement and renovation costs payable by you when you exit the village;
  • limits on your obligation to pay for ongoing fees after you leave the village; and
  • rights for you in relation to payment of your exit entitlement (the 18-month rule).

Moving in Oak Tree Retirement Village

What are the costs that I need to pay to enter the village?
  1. A fully refundable $1,000 holding deposit for your selected villa.
  2. A contribution for the legal costs to prepare your purchase contract.
  3. Your legal costs for independent review by your solicitor of your choosing.
  4. If you have enter into a lease for the villa, the lease registration fee (reviewed annually by the Land Titles Registry). If you enter into a licence agreement for the villa, there is no registration fee. The nature of ownership for the villas in your village is detailed in the Village Comparison Document, or you can contact your village manager to confirm.
  5. Ingoing Contribution (purchase price) which is payable on commencement of your lease or licence (less your deposit).
  6. The costs of any variations that you have agreed to pay.

If you would like further information regarding the costs associated with moving into, living in and leaving the village, please request a Prospective Costs Document from your village manager.

I’m ready to make the move and I’ve paid my deposit. What is next?

Once the deposit is paid, Oak Tree Group will coordinate the preparation of your Residence Contract and any ancillary documents to be provided to your solicitor.

We understand that you may need to sell your existing property before you can settle on an Oak Tree villa; Accordingly, if required by you, Oak Tree will make an agreement, subject to such a sale and agree a suitable time frame (normally 3 months) to enable that to occur. After documents have been finalised, we will make all settlement arrangements with your solicitor.

If you do not need to sell your property prior to settling with Oak Tree and have the funds available, you can complete the process sooner, however disclosure and cooling-off periods will still need to be considered.

It is a requirement that you obtain independent legal advice regarding the Residence Contracts and ancillary documents before you sign them. A Certificate of Independent Legal Advice will be included in the document package for your solicitor to complete and return.

Preparing to move into my new home, what is next?

Your Village Manager will help coordinate your move into the village to make the transition easier by assisting with the following:

  • completion of the entry condition report for your new home;
  • providing you with manuals for your appliances and keys for your villa and the village;
  • completion of relevant paperwork so that, for example, we have a record of your next of kin and contact details for your emergency contact; and
  • Helping you to complete the paperwork for your weekly fees.

Living In Oak Tree Retirement Village

What are my weekly fees and what do they pay for?

A major benefit of living in an Oak Tree retirement village is the hassle-free lifestyle and the range of services you can enjoy, from the community centre to the gardens and recreational facilities.

As a resident, you will pay a weekly fee to cover the costs associated with the lifestyle you enjoy in the village. Your weekly fee will include two components:

  • your General Services Charge; and
  • your Maintenance Reserve Fund Contribution.

We will set the amount of your general services charge annually (in accordance with the Retirement Villages Act).

Services that are provided to all residents of the Village are funded from your general services charge. The services provided include:

  • Management and administration of the Village and provision for staff and contractors including a village manager and/or relief staff;
  • Cleaning of common areas of the Village;
  • Day to day maintenance of Village gardens and facilities;
  • Provision of Village transport (if any); and
  • Payment of property costs including rates, water, insurance and waste management.

We are required to keep a fund for the purpose of maintaining and repairing the Village's Capital Items (the MRF). Residents are solely responsible for contributing to this fund.

We will set the amount of your maintenance reserve fund contribution annually (in accordance with the Retirement Villages Act). The MRF will fund:

  • Maintenance and repair of the common areas of the Village;
  • Control and eradication of pests in the common property; and
  • Maintenance and repair of units in the Village – subject to the Resident's obligation to repair and maintain the Resident's Unit (in accordance with the terms of the Resident's Contract).

Having the convenience of one easy payment means you don’t have to worry about a multitude of bills coming in each week.

Please contact us for further information regarding the funds that Oak Tree is required to maintain and the services that are funded from your weekly fees. Operational documents including the annual budget can be requested from your Village Manger.

What is not funded by my weekly fee?

Your weekly fees do not cover your own or personal utilities (telephone, electricity, gas – if applicable), contents and vehicle insurance policies or personal care services.

Oak Tree as the Village operator will cover any costs that we are responsible for under the Retirement Villages Act 1999 (Qld).

Will my weekly fee change?

Yes, unfortunately the retirement sector is not exempt from increases in the costs of living.

Each year we will review the village expenditure. We must adopt a budget for the general services and the maintenance reserve fund in accordance with the Retirement Villages Act 1999 (Qld).

In general, and subject to some limited exceptions, Oak Tree cannot increase the general service charges by more than CPI – without residents’ approval.

Oak Tree will provide the proposed annual budgets, including the general services charge and maintenance reserve fund contribution amounts payable, to the residents at least 30 days prior to the start of the new financial year (which runs from July 1 to June 30 each year).

Further information regarding the calculation of you weekly fees can be found in the Residence Contract. Please contact your Village Manager if you would like to request a copy of any operational documents for the Village.

Who is responsible for the insurance of my villa and the village?

The village has an extensive policy which ensures all buildings, including communal facilities and accommodation units, are covered in the event of disaster. Residents contribute to the cost of this insurance as part of the weekly fee.

You will be responsible for your private property, the contents of your villa and your vehicle. You will also be responsible for any accidental or deliberate damage to the villa.

Can I bring my pet to the village?

We know how important family is and how much more enjoyment you’ll get out of your lifestyle with your pet at your side.

In the interest of other residents and their right to reside peacefully, we ask that you complete a Pet Application Form prior to your pet moving in. We will also provide you with our Pet Policy and Agreement to read and sign prior to the approval of your pets.

Can I have visitors come to stay with me?

Of course! We encourage friends and family to visit and stay for a short time period. In the interest of safety and security of our residents and to help visitors get more from their stay, all visitors and residents must comply with our visitor policy.

Are there any village rules that I need to follow?

Our villages are community focused places that offer a relaxed, active and fun lifestyle for residents.

To ensure every resident continues to enjoy more from their new lifestyle, we have developed village rules which cover:

  • Alterations to village property;
  • Bullying and harassment;
  • Car parking;
  • The use of communal facilities;
  • Complaints resolution procedure;
  • Entry into villas;
  • Fire and emergency;
  • Gardening;
  • Mobility scooter guidelines;
  • Noise;
  • Resident absence;
  • Smoking in the village; and
  • Visitor policy.

Your Village Manager will walk you through your village’s rules when you move in.

Can I make any modifications to my villa?

Our villas are contemporary, sophisticated and inviting, with modern fixtures and fittings throughout. While most of our residents enjoy our villas as they come, there is the option to make alterations to your new home. Any alteration is subject to our approval and will be at your cost to install and maintain.

What is the role of the Village Manager?

Your Village Manager is a friendly face who will help make your time enjoyable, stress-free and will oversee the daily running of the village, including:

  • Coordinating contractors for services and repairs to the village;
  • Managing residents moving into and out of the village;
  • Managing the village budget;
  • Managing the preventative maintenance program for the village assets;
  • Management reporting; and
  • Assisting in organising fun and unique social trips and activities for the village.
Can I take a long holiday away from the village?

Of course! Oak Tree is all about getting more out of your retirement years. One of the best things about living in an Oak Tree community is the peace-of-mind that comes from knowing that your home will be as you left it when you return.

As your weekly fee payments continue, we will continue to care for and maintain the village and the outside of your villa. If maintenance is required inside, we’ll make those arrangements with you before you leave.

For emergency purposes, we will ask that you inform your Village Manager of your time away.

Can I access support services while I live in my villa?

Your health and wellbeing are important to us! Many of our residents require the services of visiting healthcare professionals, such as care providers, general practitioners, physiotherapists and podiatrists.

While we do not provide those services, you are able to access the services of external providers at your own cost.

Please note that any services provided by healthcare professionals are not funded by the ingoing contribution or the weekly fees payable to Oak Tree.

Can I tend to my garden?

The maintenance of village gardens is coordinated by your Village Manager and funded from the village budget.

If you have a green thumb and would like to tend to or add new plantings to your front or rear garden, we ask that you first have these approved by your Village Manager. Factors such as drainage and access for maintenance staff will be considered in the approval process.

What do I do if there is an emergency after office hours?

Our residents’ wellbeing is our priority. In the case of an extreme emergency, you should contact the local emergency services by dialling 000.

In the rare circumstance that you require urgent repairs to your villa outside of the Village Manager’s office hours, we will provide you with a list of Oak Tree approved trades who can assist you.

Departing In Oak Tree Retirement Village

What happens if I can no longer live independently?

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.

What happens if I decide to leave the village?

We understand that sometimes circumstances change. If you choose to leave your villa, you will need to give appropriate notice (at least one month) to Oak Tree.

What happens if I pass away?

Our objective is to make the process easy for your family. We will deal with your executors in relation to the termination of contractual agreements and exit entitlement.

Will I have to continue paying my weekly fee once I leave the Village?

Your direct debit payments for the maintenance and management of your village will cease after you vacate. Any unpaid weekly fees will accrue for a maximum of 90 days (after you exit) and this accrued amount will be deducted from the exit entitlement payable to you (or your estate) when your villa is resold. If your villa is resold before the 90-day period passes, your weekly fees will only accrue up until the date that the new resident pays his/her ingoing contribution for the villa.

Who can resell my villa after my contract ends?

Oak Tree will use best endeavours to resell your villa should you choose to leave. You will not be responsible for costs incurred by Oak Tree for advertising, promotion or commissions. If your villa has not been resold within 6 months of your exit, you may choose to engage an external real estate agent to assist.

In the event you choose to engage an external sales agent, Oak Tree will work with your agent and provide any relevant village documentation to assist with a sale. Any commission and marketing costs charged by the external real estate agent will be payable by you.

How is the resale price for my villa set?

Oak Tree will recommend a price based on recent sales in the village and the current market conditions at that time. We will continue to review the resale value of the villa throughout the resale process and seek your agreement if we propose any changes.

If we cannot agree on the resale price at any stage throughout the resale, the services of an independent valuer will be required.

Will you keep me up-to-date on how the resale of my villa is going?

As your selling agent, we are committed to keeping you informed on your villa’s resale. We will provide you with a monthly update covering:

  • Price comparisons and comparable resales within the village;
  • The status of any reinstatement or renovation work and estimated completion date;
  • Details of the marketing program (including details of all advertising of the premises or the village);
  • The number of enquiries and tours completed through the villa; and
  • Advice on the current resale price and any recommendations to update it.
When is my exit entitlement payable?

When you vacate the village, you will be entitled to a payment which is referred to as your exit entitlement.

Your exit entitlement is calculated by reference to 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 Residence Contract (because Oak Tree may offer different purchase options in different villages). There may be further deductions from your entitlement for outstanding costs. Please refer to the Village Comparison Document or Residence Contract for your chosen village.

Your exit entitlement is normally payable within 14 days of the date on which sale of your villa to a new resident is settled. However, if your villa is not resold within 18 months of your exit then Oak Tree must effectively pay your exit entitlement to you.

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.

What is my Exit Fee?

Your exit fee is calculated on a daily basis in accordance with the terms of your Residence Contract. The Exit Fee is payable when the right to reside in the Villa is resold to a new resident and is then deducted from your exit entitlement.

Will I be entitled to any Capital Gain when the right to reside in my villa has been resold?

This will depend on the terms of your Residence Contract. For further information please see the Village Comparison Document or contact your Village Manager.

What are my responsibilities regarding the reinstatement and renovation of my villa when I leave?

Before you vacate your villa, you will need to reinstate it, which means that you will need to bring it back to the condition that it was in when you moved in – fair wear and tear excepted.

Once you vacate your villa, we may agree on further renovation works required before marketing can commence. These works may include anything that is considered additional to reinstatement. If we must undertake suck works, we will agree on a time that they must be complete. We will share in the costs of any renovations in the same share as capital gain.

Further information regarding reinstatement and renovation can be found in the Village Comparison Document or Residence Contract.

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