Riverstone Retirement Village
Please contact us if there is something not covered here.
Can I make alterations?
Alterations for reason such as a disability may be arranged with managements approval. You will be required to cover all costs associated with the alteration. You may be required to revert the unit to its original state (at your cost).
Can friends and family stay over?
Yes, you are welcome to have visitors to stay for up three weeks and thereafter with the village manager's approval.
What do the weekly fees cover?
Residents pay a village weekly fee, monthly in advance, which is calculated as a proportion of the cost of the village outgoings. This fee includes costs such as rates, insurance, rubbish collection, security patrols, lawn & garden maintenance and will vary by facility.
What does the entry fee cover?
The entry cost gives you the right to live in the unit for their lifetime or as long as they choose as well as use the services and communal areas in the village.
What does the deferred management fee cover?
The deferred management fee (also known as the amenities fee) represents a contribution towards the provision of accommodation and communal village facilities and buildings.
What are my rights if the village got into financial difficulty?
Residents are protected through a first ranking mortgage with the Village's Statutory Supervisor. They hold first ranking mortgage over the village land in order to ensure priority and security for the rights of all residents. The statutory supervisor also ensures the operator of the village acts in accordance with the Disclosure Statement and the village is run in a financially responsible manner.
How long is the 'cooling off' period once the contract is signed?
As per the Retirement Villages Act, the cooling off period after an Occupation Right Agreement has been signed is 15 working days.
When leaving the village, what is the process for units being sold and can the resident or their families participate in the sale?
We will market your apartment and on resale refund the money you paid minus the Amenities Fee, and any other monies owing. Residents are welcome to introduce a prospective resident as long as they meet the normal entry criteria of the village.
What happens if there is a delay in sale?
If your unit has not been sold within six months of your licence termination, Bupa will pay what you are owed. If it sells sooner, Bupa will repay you upon settlement.
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