FAQs

It is important for intending residents of Rosebank Retirement Village to be fully aware of the nature of their occupation and ownership of their villa:

• While residents occupy their villa under the ORA, the title to the land and buildings remain with the Rosebank Retirement Village Ltd.
• An ORA gives residents the exclusive right to live in their home and enjoy the use of the village according to the terms of the contractual document.
• The ORA does not carry any entitlement to capital gain on termination of the agreement.

The ORA is the most common form of occupation and ownership of villages in New Zealand. All villages are covered by the Retirement Villages Act (RVA) 2003 and its regulations. The act requires the appointment of a Statutory Supervisor whose role it is to protect the rights of the village, particularly so in the event ofthe Village Operator failing to honorits obligations underthe RVA 2033. Rosebank Retirement Village Ltd has appointed Anchorage Trustee Services as Statutory Supervisor.

der the RVA 2003 your Solicitor must fully explain to you the ORA, Disclosure Statement and Deed of Supervision. The ORA must be signed in your Solicitor’s presence.

Under the RVA 2003 there is a 15-day cooling off period after you have signed the documentation with your Solicitor. During this period, you can cancel your agreement without any deductions. You will eceive your deposit back with interest. You are unable to move into the village until at least 16 working days after signing the documentation with your Solicitor.

Payments to take place on the termination of the Occupational Right Agreement:

• The Village contribution – this finances Rosebank Retirement Village’s provision of the leisure facilities, and the maintenance costs not covered by the Village outgoings fee. It covers redecoration and refurbishment costs (see note below) and replacement of chattels within the dwelling and all costs related to reselling the villa. It is not payable in cash. It is a percentage of your original purchase price.
• Note: Residents will be liable for the costs of repairing any damage to the interior of the dwelling (including chattels), which is not attributable to fair wear and tear.

The Village outgoings is a weekly set fee, It covers:

• Exterior building maintenance on your home;
• Rates;
• Building insurance – for both common facilities and your home;
• Lighting to common areas, both inside and outside;
• 24 hour security systems;
• 24 hour emergency call systems;
• Maintenance of all garden and lawns;
• External maintenance of the village’s walls and security fencing;
• Rubbish removal;
• Administration and management;
• Use and enjoyment of all Village amenities.

This amount is paid monthly in advance. It does not include:

• Insurance on your furniture, clothes, appliances and personal belongings;
• Utility costs (electricity & water);
• Telephone charges.

Please ask what the current weekly fee is.

Yes. As you can see from above, the Village outgoings fee covers the costs of running the Rosebank Retirement Village.

During the initial stages of development, Rosebank Retirement Village Ltd subsidises the overall running of the Village. In the longer term it is expected that the retirement community will become self-sufficient in covering its costs. All budgets and expenditure are presented to the Statutory Supervisor before any increase can occur.

Under the terms of the Occupational Right Agreement a Statutory Supervisor is appointed who represents the interests of the Residents. In addition, each retirement community forms its own Residents Committee that works with the management to ensure the community meets the needs of its residents. The Manager’s door is always open to discuss any issues or concerns you may have. Lastly, Rosebank Retirement Village Ltd is a member of the Retirement Villages Association which as a code of practice designed to protect the needs rights of residents.

You may request to tend the garden area directly around your villa. All costs involved for plants and materials will then become your responsibility. If you would like an extra section of garden for vegetable, then this can be discussed with the village manager.

If at any time the future you no longer wish to care for the garden area around your villa then it will be cared for by the village gardener.

The village has a courtesy van which makes weekly trips to the supermarket. The village activities programme may also include other outgoings in the van from time to time.

If you have an accident and need immediate attention, simply press any one of the strategically placed emergency buttons in your home and response is immediate.

If your health deteriorates significantly, then our staff will work with you, your family and doctor to facilitate the required care within your home.

This can be done at your own cost, in consultation with and at the discretion of the Manager.

You will need to spend some time with the Manager, to ensure you understand Rosebank Retirement Village and the villa plans;

• After you have selected the villa of your choice, you may take an option on this. We will hold this option for approx. 7 days after which time you would need to make a decision to proceed or not.
• At this point you will need to meet again with the Manager to fill out all the relevan documentation which you will then take to your solicitor. Your solicitor will advise you and get you to sign the documents. The documents will then be returned to the Manager by yourself o in the post along with a $5,000 deposit. This deposit is paid to the Covenant Trustee Company Lto and your villa is secured.
• After signing the Occupation Right Agreement, you have a cooling off period of 15 working days
  which enables you to cancel the agreement if you wish without giving a reason.
• For your peace of mind, should you for any reason decide not to go ahead with your purchase,
  your deposit will be refunded to you in full plus any interest earned (interest at normal bank rates).
• From this point on the Manager will work with you to determine the appropriate settlement dates
  for you to move into your villa, and for the settlement of funds to be paid. And before you know it – you too can be enjoying life at Rosebank Retirement Village.