Retirement Villages Info and Advice

If you are considering retirement village options, the 9-step check list below is a good starting point. For further retirement village (and rest home) advice and information sign up to receive our regular newsletter. Just go to "Our Newsletter" in the botton left hand corner of this page. The first minute-and-a-half of this video also give sound village advice: www.youtube.com/watch?v=86NLlGNSXVo   For information about Oceania Group retirement villages please use the "Find a place" search tool on the left.

9 Steps to Moving Into a Retirement Village

• Compile a short list of villages in the area(s) you or your loved one would like to live in. Four good places to start are: The Retirement Village Association, click here to visit website. Yellow’s “Guide to Retirement Living” 10/11. You can request a copy through the grownups website. Under “Retirement Housing” on Eldernet’s website On Trademe under "Real Estate" and then "Retirement Village"

• For your own reassurance, check that the Retirement Village is registered.Why? For 2 reasons: When a Retirement Village is registered a memorial is placed on the title to the land. This provides certain safeguards to residents- it stops a security holder, liquidator or operator disposing of the village as other than a going concern. A Registered Village has a Statutory Supervisor. This person is the residents’ advocate and is appointed to ensure their interests are protected. You can check to see if a village is registered by going to the companies office website.

• Visit the Retirement Villages on your short list.

• Ask the village for its information pack. They should give you this information, including: A blank copy of the Occupation Right Agreement- which creates a right for a person to occupy a unit on certain terms and conditions. The disclosure statement for the village. The disclosure statement includes information about the operator, occupancy rights, resident’s rights, the status of the village, its services, facilities and its operation. Payments relating to termination and insurance responsibilities are covered too.The disclosure statement also gives you financial information regarding entry fees, ongoing fees and exit fees. The Code of Residents’ Rights. A copy of the Retirement Villages Code of Practice. The Statutory Supervisor’s investment certificate.

• Sign an application to enter in to an Occupation Right Agreement for a particular unit.

• Pay a deposit - this must be made out to the Statutory Supervisor and is held by them until the settlement goes through. The deposit is returned in full if the settlement doesn’t happen.

• Have your lawyer explain the Occupation Right Agreement and its implications to you. It is, in fact, mandatory for a person to seek legal advice before signing an Occupation Right Agreement. A prospective resident must sign this agreement in the presence of their solicitor. The person’s solicitor must then sign a solicitor’s certificate. This states that they (the solicitor) explained the agreement and its implications in a manner and language appropriate to the age and understanding of the intending resident.

• A GP will need to confirm to the village manager that a prospective resident can live independently.

• Once the Occupation Right Agreement has been signed and a possession date is agreed, there is 15 working day cooling off period to run before a person can move in. The cooling off period can not be contracted out of. Why have this cooling off period? It is to give the prospective resident further time to consider their decision by consulting with trusted friends and family members, or to further consult their lawyer. This is to ensure they are fully comfortable with their decision. You still have the right to terminate your contract during the cooling off period.