What is the difference between Leasehold and Freehold?
In leasehold, the lessee acquires an interest in the property and does not pay any stamp duty.  Your interest is registered by the Government on title. In freehold, the purchaser acquires the land interest, pays stamp duty and your name is on the title. Both arrangements have a right of long term occupancy and are acceptable to solicitors.

Will I have a Medical Alert System?
Yes, there is an emergency alert system provided to your apartment with a handset and personal pendant.  Dr Safety Line is a 24 hour, emergency monitoring system.

Can family and friends stay overnight?
Of course they can - it’s no different to your current family home.  Quality time with family members and friends is encouraged and Watermark’s great community facilities and central location prove to be great motivators for overnight stays.  The Village Rules ensure that the other residents’ interests are considered when it comes to overnight visitors.

What are the credentials of the Manager?
Village Care is an Australian company and manages seniors living projects throughout Australia.  They are responsible for managing the interests of over 2,000 residents.  Loretta Byers, Chief Executive Officer, is a past President of the Retirement Villages Association and has over 30 years experience in the retirement industry.

What is the Village Manager’s role?
The Village Manager’s role is to ensure the smooth running of all operational issues, coordinate social activities for residents and to ensure a cohesive and caring environment.  The Village Manager also coordinates any maintenance requirements for residents.  The Watermark maintenance team will assist with minor maintenance around your home like: changing light globes, fixing leaky taps, hanging paintings and lifting heavy objects.  The Manager can also arrange for a qualified trades person to attend to more demanding tasks on a user pays basis.                

How much deposit is required to reserve an apartment and what is the process?
An initial deposit of $1,000 is all that’s required to secure an apartment.  This deposit is refundable if you choose not proceed. To formalise your intention to purchase, a Lease Loan Agreement is issued and an additional $5,000 deposit is paid to our solicitor’s trust account.

What does the monthly recurrent fee cover?
The monthly recurrent fee covers costs of operating and maintaining the services and facilities that you will enjoy within the Village. This fee covers, but is not limited to: Council rates, building insurance, maintenance & gardening of common areas, administrative and operational staffing costs.

Who is responsible for the appliances provided to my apartment?
Watermark is responsible for the capital maintenance and replacement of your oven, cook top, range hood, dish drawer dishwasher and dryer.         

Am I allowed to bring my pet?
Yes, approved pets are allowed in the Village.  The Village Rules ensure that the interests of other residents are considered.

What is the advantage of choosing a Leasehold Retirement Village of a strata unit?
The main advantage of living in a retirement village is that it is a positive lifestyle choice.  We have listed a few more advantages which are not included in the purchase of a standard strata unit:

• Stamp duty exemption
• The obligation on the operator to provide the facilities and services that it has promised to residents to make their life as easy as possible during their retirement years
• The protection of the Retirement Villages Act 1999.

What happens if I wish to leave?
The home is refurbished by the Operator and sold. The net proceeds revert back to you or your Estate.