Lilydale - FAQs
Who owns Greenleaf Lilydale?
Woedan Pty. Ltd., in conjunction with Prime Retirement and Aged Care Property Trust.
What different types of accommodation are available at Greenleaf Lilydale?
Lilydale has a range of accommodation from 2 & 3 bedroom villa units with single and double car garages, the 3 bedroom terrace houses that have a choice of a bright balcony or a private paved courtyard and just being built are the Valley Views Condominiums. All have modern up-to-date appliances, open plan styles, 2 bathrooms, dishwashers and more. Most have north-facing views across the beautiful Yarra Valley.
Who can enter into an Agreement to lease a home at Greenleaf Lilydale?
Any person who is either retired from full time employment or over the age of 55.
What upfront costs will be incurred when purchasing a home at Greenleaf Lilydale?
There are no stamp duty costs associated with entering into an Agreement to lease at Greenleaf Lilydale – amounting to a considerable saving.
You will incur some of the normal costs associated with moving, namely:
- Your Solicitor’s fees incurred in receiving the Sale Document
- Carrier and furniture removal charges
- Connection fee for telephone
It is recommended that you seek your solicitor’s advice to understand the Purchase Agreement and to ensure that you are making the correct decision. When choosing a Legal Advisor, we recommend you ensure that he or she is conversant with Retirement Villages and the Victorian Retirement Villages Act 1986.
What payment is required to place an Option (reservation) on a home at Greenleaf Lilydale?
An option fee of $1,000 is the initial requirement. This Option Fee is refundable within 21 days of placing an expression of interest. We aim to make the transition from your own home to Lilydale as effortless as possible. Upon payment of the Option Fee, we will reserve your home at Lilydale. At this time you will be provided with a full set of disclosure documents so that you can have your solicitor also review them. If you decide to proceed with the purchase of the Licence, you will be required to sign the documents and pay a 10% deposit, which we will place in our solicitor’s trust account.
The Option Fee will be refunded to you and may be offset against the deposit. If you are unable to continue with the purchase or if you have been unable to sell your current residence, we will refund the 10% deposit. This is otherwise non-refundable if you do not proceed with the purchase. If you decide not to go ahead with the purchase before you have signed the Licence Agreement, your $1,000 Option Fee will be returned in full – if within 21 days of signing.
Do I have full title to my home and what happens if Lilydale is sold to another organization?
When becoming a resident of Lilydale you will be granted a Licence to occupy your home and contractual rights under your Loan Licence Agreement, which is registered with the Government. This is not a freehold title to your home but a Statutory charge under the Victorian Retirement Villages Act 1986 provides residents’ priority over any other parties, to a refund of any refundable Loan Licence fees which the residents have paid.
The Operator of a licenced based village is the party bound to provide the Services, facilities and maintenance and the rights and obligations of Residents are clearly set out in the Agreement and cannot be changed without your consent, even if the Operator or Owner of Lilydale changes.
What chattels come with my home at Greenleaf Lilydale?
Your home comes complete with carpets, drapes, light fittings, wall oven, cook top, dishwasher, microwave, heating and cooling split system, in addition to other fixtures and fittings as outlined in your Disclosure Documents.
Can alterations or additions be made to my home at Greenleaf Lilydale?
To preserve the ambience of Lilydale for all residents, any alterations or additions need the Management Company’s prior written approval.
How is the Service Fee Set and what does it cover?
Service Fees are charged to cover the costs of operating and maintaining the services and facilities that you will enjoy at Lilydale, and to provide funds to cover long-term repairs and maintenance works and replacement of equipment. The Service Fee may only be adjusted in accordance with the Retirement Villages Act 1986, and we will endeavour to keep the increase to no more than the Consumer Price Index (CPI).
The Service Fee covers, but is not limited to: maintenance of the common garden areas and sporting facilities such as the bowling green and swimming pool, operating costs of the recreation areas, community centre and resort bus, external maintenance and repairs to communal buildings, the units, public lighting, comprehensive insurance policies (for communal areas only), rates and taxes applicable to common areas only, and administration and operational staffing costs. Maintenance of the emergency call system is also provided for.
May I lease out my home at Greenleaf Lilydale?
No.
What facilities are available at Greenleaf Lilydale?
Available in the fabulous Community Centre is a residents' lounge room including an activities area with billiards table and indoor bowls. There is an indoor heated pool, spa and gymnasium with up to date equipment. There is a hairdressing salon, library and computer room. One thing that makes this village unique is the International Restaurant. This is an a-la-carte restaurant the is open for lunch and dinner every day and has a wonderful carvery on Wednesday nights.
What medical facilities are available at Greenleaf Lilydale?
Lilydale will have a Consulting Suite available in the Community Centre for visiting medical professionals who will be encouraged to visit on set days. Another important service is our 24 hour Emergency Call System which is installed in every unit, and operated through the residents’ telephone. Emergency response is available 24 hours a day to assist you with any medical emergency.
What measures are taken to ensure that Greenleaf Lilydale is safe and secure?
A Service Agreement has been entered into for multiple visits by a Professional Security Company, 7 days a week. The access gates close automatically on specified times each night and open each morning for community access.
Do I have a say in what goes on at Lilydale?
You certainly do have a say in what goes on in, and around Lilydale. A Resident Committee, elected by the residents will be established and will meet regularly to discuss issues of relevance to all. The Committee will have regular meetings with the Resort Manager, and act in an advisory capacity on matters relating to the management and day to day activities of Lilydale. You also have other rights under relevant State Government Legislation, which provide an independent avenue for resolution of complaints or problems.
Where can I get a meal at Lilydale?
At the International Club, adjoining your Resort. This is an a-la-carte restaurant and also serves a buffet style meal. The restaurant is open for lunch and dinner 7 days a week.
Are residents allowed to keep pets?
Yes, approved pets are allowed at Lilydale.
Can residents have family or friends stay with them at Lilydale?
Yes, of course. You just need to advise the Resort Manager if you are having overnight guests – this is simply for security reasons. Your family and friends are welcome to visit you at any time and they are also welcome to use the facilities at Lilydale Valley Views as long as a resident accompanies them. After all Lilydale Valley Views is your home and we encourage you to use it that way.
What activities can residents join in on?
Activities include Happy Hours and informal social gatherings, cards, water aerobics, bingo, walking groups and much more. You are completely free to retain any interests and activities in which you are already involved, or to take advantage of anything that appeals to you at Lilydale. The choice is always yours.
Is there public transport nearby?
There is a bus stop just outside of your Resort – in Nelson Road. The Resort Manager will have readily available, a bus timetable to assist you.
Is there a Resort bus?
Yes, the resort bus will make weekly trips to local shopping centres and/or other places of interest, as well as other outings where demand exists.
What happens if I want to travel?
If travelling for any length of time, just let the Resort Manager know where to send your mail. You are free to come and go as you please, everything will be taken care of for you. However, service fees will continue via direct debit.
What happens if I wish to leave Lilydale?
If you wish to leave Lilydale for any reason, your Agreement will be terminated and a new resident will be sought. Your home will be re-sold at the agreed market value at the time of re-sale. The Deferred Management Fee (DMF), administration fee, refurbishment costs, and other charges as set out in your Agreement, will be deducted from the proceeds and paid accordingly.
How is my in-going fee returned to me on the sale of my unit?
When the Agreement is terminated, your villa will be sold at the agreed market value at the time of re-licence. You will receive the new sale price, including the full amount of any capital gain (less selling expenses including an administrative fee of 2.5% of the new sale price), the Deferred Management Fee and any refurbishment costs and other costs as set out in your Agreement.
What is the Deferred Management Fee?
The Deferred Management Fee is the return to the Owner for the investment the Company has made in establishing the Resort, providing the infrastructure such as roads, community centre, recreational and social facilities. It is essentially a delay in payment of the true market price by the resident until they leave the Resort. Delaying the fee until leaving allows the resident access to more of their funds earlier, to finance their lifestyle, rather than committing all their funds to provide for their accommodation.
The Deferred Management Fee is calculated as follows:
3% of the resale of the unit for a maximum of 11 years.
Benefits & Cost of Loan Lease Vs. Strata Title:
Definition:
A Strata Title is a Legal Document that identifies a particular property such that an individual or other legal entity can clearly establish rights of ownership. In itself the title has no value. This same purpose can be achieved with total security by a formal contract. In fact when a resident buys a unit in a retirement village, the title he or she receives has a contract attached.
When purchasing a unit in a retirement village the most important document is the contract, as this is the document that defines the rights of ownership that apply to the property in question.
A Lease or Loan Lease is simply an alternative legal document to a title. It can have exactly the same effect if the contract that it is attached to is the same as the contract attached to a title. Contract law is the oldest and most basic law in our legal system and to challenge the basic laws of contract would be to challenge the principles of private property that our society is based upon.
In addition to the normal legal rights pertaining to titles and contracts, retirement village residents are protected by the Retirement Villages Act. This Act ensures that an owner or operator of a Retirement Village cannot do anything that would lead to a resident losing their unit. Further, this legislation also ensures that the owner of the Village cannot mortgage or encumber the property in any way that would remove the right of residents to occupy or dispose of their unit under the terms of the management contract.
GST:
The major benefit of the structure at Lilydale is that there is no GST on the monthly fees. In some leasehold and Strata Title Villages, residents pay GST on their monthly fees, and this ongoing cost will be indefinite.
In addition, for a Strata Titled village, residents must pay GST on the first time sale of the units. While this cost is built into the price, it is a cost that must be passed on to the purchaser.
Stamp Duty:
If the Retirement Village Unit is occupied under a loan lease agreement, there is no stamp duty payable on the sale of the unit. Once again this saves the resident many thousands of dollars.
For more information about Lilydale:
- Select one of the Related Information items at right
- Contact us so we can discuss your specific questions regarding Lilydale
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