FAQ – What are the benefits of leasehold village –

What is a Leasehold retirement village? For the lease the resident pays the operator the initial price (ingoing contribution) of the unit. The lease for the unit is usually for 99 years. The resident pays a rental charge for the land the unit stands on, and may be entitled to a Centrelink rebate.

The contract will indicate whether the resident is able to share in the capital gain on the sale of the unit, and the percentage to which he is entitled. Careful scrutiny of the contract will also indicate what you can and cannot do in your unit.

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