Cedars Village Q&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 up grading and refurbishment of the central facilities and individual units so as to ensure that capital values are maximised.

The level of assignment fee varies. The maximum it will be is 12.5% of the sale value and on some of our older leases it can vary considerably below this percentage level. 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.

A. The lease for all properties at Cedars Village will be for a term of 125 years or the un-used balance of the term. Ground rent is between £100 and £275 per annum. On leaving the village the Lease is assignable to any qualifying person (aged 60 and over).

A: Our assisted purchase scheme is where we act as an agent on your behalf, managing the sales process, and helping you to secure a buyer for your property.

A. A 24 hour on-call emergency support service is in place in Cedars Village. This is to cover emergencies only, provide advice on health matters, liaise with GPs, families, etc, 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 retirement 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 G.P. 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 the village is independence in retirement. Our domiciliary care company, RV Care, will be looking to expand 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.

However, where the situation deteriorates and independence diminishes to the point where permanent care is needed and closed care or nursing home facility isn’t available, then inevitably residents themselves or their families will recognise that alternative living arrangements need to be made.

Where a couple are occupying a property and one of the parties becomes unable to look after themselves, then there is no need for alternative arrangements to be made, providing the other party remains able to cope along with the assistance of outside agencies.

A. All of our service charges 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, gained over 25 years, of managing our villages and is very conscious of the need to keep costs under control whilst continuing to give a quality service.

A. There are a number of social activities organised by the Residents’ Association and individuals which are open to all. 

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

A. Yes, they can for a maximum of 28 days, but Cedars Village has two well appointed guest rooms, which are available at nominal rates.

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

A. The service charges are as follows:

Band A: £4,052 (£1,013 per quarter)

Band B: £4,480 (£1,120 per quarter)

Band C: £4,744 (£1,186 per quarter)

Band D: £5,092 (£1,273 per quarter)

A. Salaries and National Insurance:

* Administration - A team of three including the Village Manager who are responsible for the supervision and control of the complete on-site management of the village

* Maintenance – Employed or contracted staff who are responsible primarily for the upkeep of the communal grounds, buildings and equipment in the village. They will also carry out minor repairs to individual properties that have arisen from structural damage, and there is an appropriate arrangement for property emergencies outside normal working hours. Where residents require further assistance i.e. electricians, plumbers etc they will be required to pay for this separately.

* Domestic – Each property is entitled to have one hour of domestic assistance and to have up to eight pieces of linen laundered in our central facilities each week.

* Nurses – The village has a team of nurses who operate an emergency 24/7 facility coverage.

Maintenance Reserve Fund (Sinking fund)

There is a programme for planned maintenance, together with the replacement of large items of equipment. The reserve fund is designed to allow for these expenditures as and when they occur, thereby reducing the need for large variations to service charges. The fund is also there should unforeseen maintenance items arise.

Communal Rates

The business rates for the office accommodation, restaurant, kiosk and all the other central facilities.

Insurance

A block policy is in place to cover the buildings insurance on each property and on all communal buildings. Furnishings in communal areas and equipment used in maintaining the village are also covered, together with employer’s and public liability.

Communal Energy

This is the cost of heating, lighting and water to all communal parts of the village.

Residents pay these charges separately in respect of their own properties. 

Office Supplies/Telephone

The costs of running the office accommodation and associated services.

Repairs and Maintenance

* The external maintenance, decoration and repair of all properties on the estate including the structure, roofs and foundations.

* Internal maintenance: repair and decoration of the clubhouse and other common parts of the estate.

* The provision of a refuse collection service.

* The maintenance or replacement where necessary of such plant, machinery, and equipment as required.

Maintenance Contracts

The payment of charges in respect of maintenance and servicing contracts for boilers, lifts, fire alarms, alarm call system and other communal equipment.

Accountancy/Legal

Auditors costs for the provision of independently certified statements of accounts and any licence fees payable. 

Management Fee

The fee payable to the Landlord’s appointed manager, RV Services Ltd, for the provision of services to the on site management company and for overall accountability of providing and monitoring the entire facility.

Cleaning Materials, Window Cleaning, Garden Supplies, Uniforms, Interest and Recruitment Advertisements

A. Each property is equipped with an alarm call system which is directly linked to the Medical Centre in the main house. A qualified nurse is on duty 24 hours a day seven days a week to deal with medical emergencies. Incorporated with the alarm call system is a pressure mat, which if for any reason is not activated by the resident, will prompt an emergency call.

Doctors Clinic is open every Monday 12pm to 1pm (provided by Chorleywood Health Centre).

Additional services offered:

    * Repeat prescription service

    * Chiropody clinic fortnightly