We believe that in order to get a real understanding of what it’s like moving into, living in and exiting a retirement village, the best people to ask are those who have been through it. We recently asked a group of residents the questions that clients regularly ask us. Topics include insights on decision making, comparing villages, lifestyle changes, financial particulars, care and support options and security.
Watch the videos below to hear our residents tell you in their own words what they’ve experienced.
Often the questions we are frequently asked cannot be answered in a simple sentence. For this reason and due to the complexities of certain aspects of retirement village living we created our monthly Information Days.
The Information Days include a comprehensive presentation and allow for lengthy discussion time with residents and staff, as well as morning tea, lunch and a tour of the village.
It’s important to understand fully the way a retirement village operates and we encourage anyone who is considering their retirement living options to come along and be informed.
Research & Descision Making
WHEN IS THE RIGHT TIME TO MAKE THE MOVE INTO A RETIREMENT VILLAGE?
We find most people look at moving into a village when they are retired and are planning their future to ensure they make the most of this time, with its unlimited options. Our village is designed to meet our resident’s accommodation, social, health and lifestyle needs. Living in a community of likeminded people with similar interests and hobbies often provides residents with a range of new opportunities, including health and wellbeing.
WHAT ARE THE MOST COMMON REASONS PEOPLE MOVE INTO A RETIREMENT VILLAGE?
The reasons are many and varied. Friendship, community, security, low maintenance and the opportunity to lock up and travel knowing your home will be safe. As well as access to care and support and resort style facilities are just a few of the draw cards.
WHAT IF I NEED TO SELL MY HOME BEFORE BUYING INTO RENAISSANCE VICTORIA POINT?
We expect people to have to sell an existing property before moving. Our Lifestyle Consultants can help you avoid two moves by assisting you to move directly into your new villa from your existing home where possible.
Legalities & Financial Components
WILL I OWN MY VILLA?
Renaissance villas are available as a leasehold tenure. The lease term prevails for the life of the resident, or until the resident surrenders the lease to reside elsewhere.
WILL I BE REQUIRED TO PAY STAMP DUTY WHEN I PURCHASE A VILLA AT RENAISSANCE VICTORIA POINT?
Under current legislation, leases are exempt from stamp duty. Renaissance villas are sold as a leasehold therefore you are not liable to pay stamp duty.
HOW IS A LEASE TREATED IN RELATION TO THE AGE PENSION UNDER THE ASSETS TEST?
A lease is treated in the same way as if you owned the title to the property, providing it is your permanent residence. Circumstances will vary and you should contact Centrelink to confirm your position.
WHAT ARE THE COSTS ASSOCIATED WITH MOVING INTO A RETIREMENT VILLAGE?
The costs of moving into a Renaissance village include the Ingoing Contribution amount related to your villa, the legal fees associated with the preparation and registration of the lease documentation, your own solicitor’s fees plus any costs associated with gas, electricity and phone. There are additional costs payable by residents who choose extra services like caravan parking and storage.
DO I HAVE TO TAKE OUT INSURANCE?
Building insurance is covered in the village policy liable by Renaissance and payable in the regular maintenance fees. You will however need to take out your own household contents insurance.
CAN I MAKE IMPROVEMENTS OR CHANGES TO MY VILLA AFTER I TAKE UP RESIDENCE?
We understand that you may wish to make minor changes after you move into your villa. Before making these changes, you will need to seek the written approval of management by filling out the relevant form.
WILL I BE ABLE TO STAY IN MY RENAISSANCE VILLA AS LONG AS I CHOOSE?
In most cases, except where there are extenuating circumstances such as the need for specialised high care. However a range of optional in-home support and care services are available if required.
CAN I BEQUEATH MY LEASEHOLD TENURE TO A FAMILY MEMBER?
The lease is not transferable. Only those whose names appear on the lease are able to reside full-time in the villa. The residual payout value at exit is the property of the resident.
WHO PAYS FOR UTILITIES?
The resident pays for their own electricity, telephone, internet, cable tv and gas usage. Council rates are covered in the General Service Charges.
WHAT ARE SERVICE FEES FOR?
General Service Charges are for services supplied or made available to all residents. This includes things like management and administration, gardening and maintenance, services supplying goods to residents, recreation and entertainment facilities, emergency call access facilities, the village bus service, electricity to common areas and council rates. The list of inclusions is quite lengthy, if you would like this information simply contact us and we’re happy to provide it to you. Renaissance doesn’t make money from the service fee, it’s a cost passed on to residents for services provided.
HOW MUCH DO THE SERVICE FEES COST?
It varies depending on the size of the villa you occupy. Smaller sized villas require less maintenance and services and therefore have lower fees compared to larger size villa styles.
HOW DO I PAY MY MONTHLY SERVICE FEE?
At the time you take up residence in your villa you will be provided with a direct debit form – you will need to complete and return this form to us. Prior to your account being debited each month, we will issue you with an invoice as a reminder of the amount that is to come out of your account.
WHAT HAPPENS IF RENAISSANCE’S OWNERS AND OPERATORS SELL OR GO BANKRUPT?
In this situation Residents interests are protected because existing residence contracts are secured by the Retirement Villages Act QLD. A liquidator, administrator or new owner must comply with the conditions of existing contracts.
In the event the Village finds itself in a financially unstable position it is likely a receiver/administrator will be appointed voluntarily or by the Courts. If this occurs Residents interests remain intact at all times because the General Service Fees ensure the ongoing operation of the village.
Support & Lifestyle
WILL MY INDEPENDENCE AND PRIVACY BE RESPECTED?
At Renaissance Victoria Point your independence and privacy is paramount. An array of activities are available within the village however it’s entirely up to you to partake in as few or as many as you’d like. Alternatively you may choose the quiet privacy of your own villa – the choice is yours at all times.
WILL MY VILLA HAVE AN EMERGENCY CALL SYSTEM?
All Renaissance villas are equipped with an emergency call system. The Leisure Centre also has a system with strategic points located throughout the building.
WHAT HAPPENS IF I HAVE AN ACCIDENT OR GET SICK?
You need only to press your emergency call button and a dedicated call centre will contact you and our on-call staff member. If required, further medical attention will be arranged for you.
WHAT IF I NEED HOME CARE OR DOMESTIC HELP?
We can assist you in accessing a wide range of assistance and support services to make remaining in your villa a comfortable and happy experience. This applies in all aspects of day to day living.
WILL MY VILLA BE LOOKED AFTER WHILE I AM AWAY?
Your gardens will be maintained as usual by our grounds staff. If you require maintenance to your private courtyard, this can be arranged.
WILL I BE ABLE TO HAVE FRIENDS OR RELATIVES STAY WITH ME IN MY VILLA?
Visitors are most welcome to visit and stay with you in your villa. Visitors can make full use of the Leisure Centre facilities, however they should be accompanied by a resident at all times whilst doing so. If your visitor is staying for an extended period of more than 3 nights, we require notification in advance. For long periods you must seek our prior written approval.
ARE PETS PERMITTED AT RENAISSANCE VICTORIA POINT?
We understand the comfort and companionship a pet can provide. Small pets are welcome in our village, subject to meeting our criteria. There are leisurely walking paths in and around the village which our residents enjoy with their pets.
CAN I HAVE ACCESS TO THE INTERNET AND FOXTEL IF I WANT IT?
Internet connection is something you can arrange with your service provider. For Foxtel connection, you merely need to seek written approval of management by filling out the appropriate form.
HOW IS THE VILLAGE MAINTAINED?
The interiors and exteriors of all villas, common buildings and gardens are maintained by our expert maintenance and gardening team. Everything from changing a lightbulb, fixing a plumbing or electrical issue to creating colourful flower filled scenery is looked after for residents by our team. The only thing you have to look after are your own belongings.
WHAT FACILITIES ARE AVAILABLE?
A purpose built Leisure Centre precinct is available for all residents to use – all day, every day. Facilities include, social areas, community lounge area, indoor swimming pool, exercise room, consulting room with visiting services, hairdressing salon, media room, computer room, craft room, library, billiards room, bowling green, croquet court and fully equipped workshop.
HOW MANY PEOPLE CURRENTLY RESIDE AT RENAISSANCE VICTORIA POINT?
Currently nearly 400 residents live in 253 villas. Upon completion approximately 500 residents will live in around 300 villas.