Southern Cross Care’s retirement living units are designed to provide affordable living for people throughout South Australia, the Northern Territory and Victoria.
By giving you a fully equipped place to live at an affordable price, our units allow you to save money and free up capital. It’s a great way to make travel or supporting your retirement that little bit easier.
To become a resident in one of Southern Cross Care’s retirement living units, you need to pay an entry contribution. This is simply a payment made to Southern Cross Care for the right to live in the property of your choosing. For retirement living units, these contributions vary from $45,000-$170,000.
This payment gives you to the ‘licence to occupy’ the property, and your interest is secured by a lifetime lease. Whilst Southern Cross Care maintains the title ownership of the property, the Retirement Villages Act and the Residence Contract protect you tenure.
The rights and obligations of residents are clearly set out in the lease, and cannot be changed without each resident’s consent. This means that although the residents do not have the title to their unit, each resident will have the exclusive right to occupy the unit for their lifetime if they wish, subject only to certain exceptions set out in the Retirement Villages Act.
As the owner and manager, Southern Cross Care has a long-term interest in the ongoing success of all properties and as a result, is committed to maintaining a high standard of facilities and services.
As a resident, you are required to pay a monthly maintenance fee. This is always charged in arrears. The fee covers the operation of the property and the services that are specifically covered in your contract. This may include:
- Rates and taxes – e.g. council, water, emergency services levy
- Insurance (excluding contents) of building, common areas, plants and equipment
- Public lighting
- Repairs, painting and maintenance of buildings, plants and equipment
- Use and maintenance of all common facilities
- Administration costs – administration, gardening and maintenance staff
- Cleaning of common areas, rubbish removal
- Replacement of hot water services, air conditioning (installed by Southern Cross Care), appliances, floor coverings that were supplied in the unit when it was first occupied by the resident.