Choosing a retirement village can be a daunting process with lots to consider but there is no need to feel overwhelmed. Our team can help find the village that is right for you, give us a call and have a discussion about any concerns you may have and we will be happy to help.
Alternatively if you just want to know more information take a look at our blogs below for some guidance.
You can also find out more about the legal and financial processes of purchasing a Retirement Village Property below.
Before you come to live in the retirement village you sign an Occupation Rights Agreement (ORA). This specifies the terms and conditions of your stay in the village. It describes the services available to you in the village. To help make this an easy move, your village manager will be there to make sure you and your family feel comfortable when you settle into your new home.
Under our standard ORA:
- When you leave, your home will be marketed by the village manager. This assists a new occupant to be found for your villa or apartment.
- Bupa is responsible for the marketing, so you and your family don't have to organise this. Bupa will pay all marketing and advertising costs. No sales commission is payable to us when a new occupant is found.
If you have purchased a cross lease title to a unit in our Remuera Retirement Village, you or your family are responsible for marketing and selling the unit at your own cost. There may be real estate agent’s commission payable.
Fees and costs
The amenities fee represents a contribution towards the provision of accommodation and communal village facilities and buildings, and is deducted when you leave the village.
When it is time for you to sell your home all refurbishment costs related to normal wear and tear will be met by Bupa. No sales commissions will be deducted from your refund. Presuming all weekly fees have been paid, the amenities fee is the only deduction that will be made under our standard ORA.
This is a weekly fee that residents pay monthly in advance. It is calculated as a proportion of the cost of the village outgoings and not to be confused with the amenities fee. This includes:
- Land Rates
- Street lighting
- Insurance (excluding your own personal belongings)
- Administration and management of the village
- Provision of all utilities, cleaning and servicing of communal areas
- Provision of domestic rubbish removal service
- Exterior maintenance of apartments, units and villas
- Maintenance of village facilities: lawns, gardens, roadways, paths and all common areas
- Electricity for some apartments and villas
- Provision for long term maintenance
- Exterior window cleaning at least twice a year
- Security patrols
- Weekly transport for shopping
Please refer to the ORA or contact us for full details. You can check the specific details with your village manager.
Please note that each village is a little different and fees may vary slightly.
Your protection under the Retirement Villages Act 2003
For the protection of retirement village residents, all retirement villages are legally required to abide by the Retirement Villages Act 2003. As a result, there are many things that make many retirement villages similar. Talk to the village manager for more information.
Things you should expect from all retirement villages include:
• No hidden costs – all villages are required to be completely open and transparent about the costs you will incur.
• A cap on amenities/management fees – these cannot exceed the level at which they are declared on your contract.
• A “cooling off” period – this is the period where you can change your mind within 15 working days of signing an Occupation Right Agreement.
Protecting our residents
To make sure all of our residents enjoy village life, we run an annual Resident Satisfaction Survey to get direct feedback. We take this feedback seriously as we always look to improve village life for our residents.
We're proud to be an active member of the Retirement Villages Association (RVA). The RVA is a national organisation that works to represent, protect and promote the interests of its members and associates. RVA requires Bupa to follow strict standards and guidelines in running our villages. To maintain membership, each village is audited by an independent agency.
All Bupa villages are accredited for three years following audits. Our goal is to ensure that we have well run communities where you can benefit from our experience and skills.
To find out more refer to the Retirement Village Code of Practice on the RVA website.
Our Statutory Supervisor is Covenant Trustee Services Limited. Covenant Trustee Services Limited (Covenant) is a New Zealand based professional services firm that provides corporate trustee and statutory supervisor services to New Zealand business, charities and retirement villages.