Q and A

A: Owners of a Retirement Villages lease are required to pay an assignment fee when their property is sold.

When a Retirement Village is developed there are very substantial capital costs involved in creating the central ‘country club’ facilities, including the restaurant, bar, kitchens, fitness centre, leisure facilities etc. The assignment fees provide the landlord company with a long term income stream which provides a return on the capital cost of that investment. At the same time, this income stream gives the landlord a common interest with the leaseholders, in ensuring that capital values of properties in the village are maintained and improved.

A common criticism of some retirement housing schemes is that “second hand” properties are difficult to sell because the developer, having made his development profit, has no further interest in the investment performance of the scheme. Retirement Villages Limited develops its villages and owns them in perpetuity. We continue to invest in the upgrading and refurbishment of the central facilities and individual units so as to ensure that capital values are maximised.

The level of assignment fee varies from village to village. In all cases this fee includes the landlord’s solicitors’ costs.

Before proceeding we would advise you to take legal advice to ensure you are fully aware of exactly what the fee would be in respect of the specific property you are considering.

Please visit the Q and A page of the village you are particularly interested in for further information.

A. A 24 hour emergency call-out support service is in place in all villages. This is to cover emergencies only. Villages also have a nurse or other qualified professional on site during set hours to provide advice on health matters, liaise with GPs, families and others where appropriate, and generally look after the well being of residents

A. Retirement Villages does not discriminate on the grounds of age, marital status, sex, sexual orientation or disability and is committed to a policy of equal opportunities and diversity.

Our independent living villages are designed to provide an enjoyable and supported environment for older people living independently. So far as we are able we will endeavour to accommodate residents in line with our diversity policy, but we will wish to be satisfied that prospective residents are able to live independently within a community which does not provide full nursing care.

Prospective purchasers will be asked to confirm that they are generally in good health. Purchasers who have specific health problems may be required to provide further information via their GP. In ascertaining a person’s suitability in such a case, the landlord will rely upon sound medical advice and this assessment will be made using the criteria laid down by the Association of British Insurers to assess the need for long-term care.

A. The concept of our independent living villages is independence in retirement. Our domiciliary care company RV Care is expanding its service to provide care packages at varying levels for residents if required. A number of our villages also offer extended close care and full nursing services, which provide a natural extension in older age.

A. It is a condition of purchase that all properties pay an annual service charge. Service charges cover the running costs of the village.

In general terms, this includes communal rates and insurance; energy bills for communal areas; external repairs and maintenance of all properties in the village as well as full maintenance of all communal buildings; refuse collection and window cleaning; payment of servicing contracts for boilers, lifts, fire alarms, alarm call system and other communal equipment; annual independent audit of accounts and any licence fees payable; payment to appointed manager responsible for overall accountability of providing and monitoring the entire village facility; staff salaries and uniforms; cleaning materials; window cleaning; garden supplies; recruitment advertisements; office supplies and telephone bills.

Fees and charges differ from village to village.

Please visit the Q and A page of the village you are particularly interested in to find out more.

A. All of our service charge accounts are run on a strictly ‘not for profit’ basis and in full compliance with government legislation. Increases in service charges will only reflect actual levels of wage and cost inflation. It is not possible to give predictions for this but the company has considerable experience of managing our villages and is very conscious of the need to keep costs under control whilst continuing to give a quality service.

A. Residents form their own Residents’ Association with an elected committee. From here, events and planned activities are initiated. The shared facilities in each village are available for residents to use individually or for organised events, activities or groups.

A. Minor internal alterations and improvements can be made with the consent of Retirement Villages. However, when the lease is assigned, the right is reserved to restore the property to its original condition at the expense of the outgoing tenant.

A. Yes, they can, and in many of our villages we also have well appointed guest rooms, which are available at nominal rates.

A. Yes they are. However, for obvious reasons it is essential they are well trained and controlled.

A. External redecoration is the responsibility of Retirement Villages within a planned maintenance cycle. This is paid for from the service charges. Internal redecoration is the responsibility of the tenant at least every five years.

A. Anyone who is over 55 (or is married to someone over 55). The services and facilities have been designed specifically for this age group.

A. Yes, the properties are sold with a 125 year lease.

A. Yes of course. It is your home and you can bring whatever you want to fit in it.

A. No, not unless your GP recommends it. Our aim is to ensure you can be cared for within your home by our own team of carers for as long as you need us.