Jesmond 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 covers 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 weekly recurrent charge is reviewed & amended annually on July 1st.
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 units in the Village (including internal fixtures and fittings) – subject to the Resident’s obligation to repair and maintain the Resident’s Unit (in accordance with the terms of the Resident’s Contract).
- Council rates, water, waste and sewerage services;
- External pressure cleaning of all buildings and common areas (annually);
- 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)
Our financial models are based on an upfront payment structure with a departure fee.
- The maximum exit fee of 36% (accrued over 6 years) calculated on the Ingoing Contribution (your purchase price)
- 50% share of any future Capital Gain
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
