RESIDENT FUNDED UNITS
There are 14 resident funded units. These are duplex style units and are all two-bedroom. These units are available on a long-term occupancy lease arrangement.
Units are upgraded to "as new condition" prior to each allocation.
All units have:
- own rear courtyard with clothes line.
- carport with large storage cupboard.
- gas heating.
- telephone connection.
- TV antennas.
- Window treatments (blinds and lace curtains).
FEES
The ingoing fee for these units is $110,000.
The following refund applies when the resident vacates:
Within 5 years: The ingoing fee less ½ % of the fee for every calendar month or part thereof that the resident has occupied the unit, with a maximum refund of ingoing fee less 3%
After 5 years: 70% of the ingoing fee
There is a monthly maintenance fee, which is presently set at $170.00 per month. This fee covers building insurance, water and sewerage rates, upkeep of grounds, repairs and administration.
The resident is responsible for gas and electricity consumed and household contents insurance.
