"One of the best decisions we ever made."
Our Resident Guarantees
At Arena Living, our Resident Guarantees are designed to give you peace of mind, so you can relax and enjoy village life to the full. Have a read through our guarantees and if there is anything you’re not sure about, please just ask.
We know it’s important to have certainty over your living costs. Our weekly fee is guaranteed for the entire period of your Occupation Right Agreement, so you’ll never have to worry about rising costs.
When your agreement terminates and your home has been vacated and handed back to us, your weekly fee payment will stop immediately. The Retirement Villages Code of Practice only requires your weekly fee to reduce by 50% after six months.
We will absorb any capital loss on relicensing your home, so you have absolute certainty over how much you will receive when you leave.
There are no hidden costs when you leave the village – you will not be charged any cleaning fees, selling fees or marketing costs when we relicense your home and you will not be liable for costs to refurbish your home (unless you have caused damage beyond reasonable fair wear and tear). The only cost is your Deferred Management Fee (DMF).
Our buying process affords you peace of mind knowing you are protected throughout the process. If you change your mind before signing the agreement, you may cancel your reservation and we will refund your deposit, in full, along with any net interest earned.
The purchase is always conditional upon your solicitor approving the agreement and all associated documentation. We can even make the purchase of your agreement conditional upon you selling your existing home. Once you sign the agreement with your solicitor, there is a ‘cooling off period’, where you have another 15 working days to change your mind for any reason. Should you cancel within that period, your deposit will be fully refunded along with any net interest it has earned.
Costs and ownership
Moving in to one of our retirement communities is an important decision, and we want you to have a full understanding of both the costs and the benefits involved, right from the outset.
Of course, the cost of retirement living depends on a lot of things: the type of home you want to live in, its location, the facilities and services available, and more. We’ve minimised up-front costs to help you get the most out of village life from the moment you arrive.
You will enter into an Occupation Right Agreement (ORA) for your home, at the market value, at the time of purchase. The ORA gives you the right to occupy the home for your lifetime (health and other terms permitting), or until you choose to leave. Occupation rights will be secured by the statutory supervisor’s first-ranking mortgage over the village land.
We have a fixed weekly fee that covers rates, building insurance, gardening, exterior maintenance, a 24/7 onsite emergency response service, staff and use of all the village communal facilities and amenities. Your weekly fee will be fixed for the entire period of your occupancy, giving you certainty over your future outgoings. We make no profit from this weekly fee.
When your home is sold, we retain a Deferred Management Fee (DMF) of 30% of the original purchase price. The DMF contributes to the capital costs of the village and facilities, and the costs of operating the Arena Living business. It also covers marketing, refurbishment and selling of your home, ready for the incoming resident. There are no additional fees for you to pay, unless you have caused damage beyond fair wear and tear. The DMF is accrued over three years. If you leave within this time, your fee will be reduced accordingly. We will also absorb any capital loss, so you have absolute certainty over how much you will receive when you leave.
Any services you use, such as meals in the restaurant, maintenance services within your home or housekeeping in your home, are charged in addition. The way we operate our villages enables us to offer additional services on a flexible basis, and only when you wish or need to have them.
We have our own internal specialist sales and marketing team. We are in the best position to handle the sale of your home due to our experience and in-depth understanding of the benefits and facilities of the village. Under the terms of the Occupation Right Agreement, we will market your home in order to sell the license, at no extra cost to you. To make the sales process successful, we continually promote the villages and maintain a list of prospective purchasers.
We encourage you to take the time to review these core financial terms and we recommend you consult your solicitor and family members so you can make the decision that is most appropriate for you.
Come and see us to talk about your options
We recommend you discuss your options with us face-to-face so you can ask questions and feel confident that you are making the right decision. You may wish to discuss your options with close family members, and you must also seek independent legal advice. Our formal obligations and all costs are clearly set out in your ORA.
The purchase of your ORA is always conditional on your solicitor approving the agreement and all associated documentation. We can even make the purchase of your agreement conditional upon you selling your existing home.
For more information, you can download a brochure or chat to one of our sales team.
*The above applies to all Arena Living Villages, except for Mt Eden Gardens Village. For information on Mt Eden Gardens Village please click here or call Vicky Knipe on (09) 630-6303.