Fees

Service Fee

The Service Fee  covers the costs of administration of the Village. It is fully described in the Disclosure Document and the Occupation Right Agreement (O.R.A) which is a contract between each resident and Alandale Lifecare Ltd. The O.R.A sets out what the Company’s responsibility is in relation to the residents and what costs the residents are expected to meet themselves.

The Service Fee is reviewed annually in April, with any increase being notified to residents in May, and the increase coming into effect on July 1. The fee will generally increase each year.

The Service Fee covers the Body Corporate costs for such things as: external maintenance of the unit; garden maintenance; mowing of lawns; insurance for the structure of the unit; maintenance of the common areas in the village; maintenance of club facilities; emergency call system; ambulance call-outs; health and welfare oversight; Alandale bus (scheduled shopping trips only); village security; in-house video system. This list is a guide only, the fee does not include window cleaning.

For Serviced Apartment residents it also includes: three meals a day plus morning and afternoon tea; house keeping; laundry service; electricity costs and all insurance costs (excluding vehicle insurance).

Facilities Fee

This is the fee paid by the vendor of a unit to Alandale Lifecare Ltd on its sale. It is calculated on the sale price of the unit and the number of years the resident has been in the Village. 

The Fee received by the Company is used to repay debt if any, to maintain the Company assets (the Club building and bowling green, and capital equipment), to promote the Village through advertising (generic – not individual units) and, in the future, for possible development and redevelopment costs of the Village.

All the income received from these fees is used for the benefit of residents, present and future.

Calculation of Facilities Fee

The Facilities Fee is calculated on a percentage of the saleprice* of the unit, with the percentage depending on how long the resident has owned the unit. The length of ownership commences on the date the resident purchased the unit and expires on the date the sale of the unit settled.

For Occupation Right Agreements signed by residents after 1 July 2010, the Facilities Fee for both Villas and Serviced Apartments is calculated at the rate of 5% per annum, for the period the resident has owned the unit to a maximum of 25% of the sale price* of the unit.

Note: * the Resident's Occupation Right Agreement signed on entry into the Village contains a full definition of the value of the unit on which the Facilities Fee is calculated which in summary is the greater of:

a) the sale price or other consideration (including chattels) payable in respect of the sale or disposition of the unit; or

b) the fair market value of the unit (including chattels) at the date of such sale or disposition as agreed between the Resident and the Operator or in the absence of such agreement then as determined by registered valuation obtained by the Operator.