The growth of the Retirement Village industry in New Zealand is increasing every year. There are currently well over 330 registered retirement villages in New Zealand.
10 Key Questions Intending Residents Need to Ask:
- Why do you want to move and what enquiries have you made of the Village?
- Is the Village registered with the Retirement Villages Act 2003?
- Do you understand the ownership and management structure of the Village?
- What security arrangements exist and the range of services on offer at the
Village? - What are the entry fees and exit costs on sale? What fees do you have to
pay upon vacating the Village? - Can the Village increase service charges?
- Does the Village have a statutory supervisor, and if so, do you know the rules
and duties of a statutory supervisor? - Do you know the rules for visitors, pets, car parking and having people to stay
with you? - Can you be moved from one unit to another in the Village?
- Do you understand about damage or destruction as a result of earthquakes?
It is only Lawyers who can sign and explain to an intending resident the terms and effect of the Occupation Right Agreement.
If you are thinking about entering a retirement village, pleased call us.
We have worked for a number of clients who are now residents in a Retirement Village.