Factsheet for loan-licence or loan-lease retirement village



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Factsheet for loan-licence or loan-lease retirement village Under the Retirement Villages Act 1986, all retirement villages operating in Victoria must give this factsheet to a retiree (or anyone acting on their behalf) within seven days of a request, and include it in any marketing material provided to them and intended to promote a particular village. Make sure you read and understand each section of this document before you sign a contract to live in this village. Consumer Affairs Victoria suggests that before you decide whether to live in a retirement village, you should: seek independent advice about the retirement village contract there are different types of contract and they can be complex find out the financial commitments involved in particular, you should understand and consider entry costs, ongoing charges and financial liabilities on permanent departure (covered in sections 9 and 10 of this document) consider what questions to ask the village manager before signing a contract consider whether retirement village living provides the lifestyle that is right for you. All amounts in this factsheet are GST-inclusive, unless stated otherwise where that is permitted by law 1 October 2014 For further details on retirement village living visit Consumer Affairs Victoria at consumer.vic.gov.au/retirementvillages 1 of 12

1. Location Name and address of retirement village: Baptcare Karana Community 55 Walpole Street Kew 3101 2. Ownership 2.1 Name and address of the owner of the land on which the retirement village facilities are located (company /organisation/owners corporation): Baptcare Limited 1193 Toorak Road Camberwell 3124 2.2 Year construction started: 1959 3. Management 3.1 Name of company or organisation that manages the retirement village: Baptcare Limited ABN: 12069130463 Address: 1193 Toorak Road Camberwell 3124 Telephone number: 98317222 Date company or organisation became manager: 1959 2 of 12

3.2 Is there an onsite representative of the manager available for residents? If yes, the onsite representative is available on these days: *A staff member is on site 24/7 day for emergency purposes. Monday from 9 am to 5 pm Tuesday from 9 am to 5 pm Wednesday from 9 am to 5 pm Thursday from 9 am to 5 pm Friday from 9 am to 5 pm 4. Nature of ownership or tenure Resident ownership or tenure of the units in the village is: Licence (non-owner resident) 5. Number and size of residential options 5.1 Number of units by accommodation type: 1 one-bedroom unit 18 two-bedroom units 19 in total 5.2 Garages, carports or carparks: Each unit has its own garage or carport attached to the unit separate from the unit. Each unit has its own car park space adjacent to the unit separate from the unit. General car parking is available in the village for residents and visitors. Other (specify): garages, carports or car parking are provided. 3 of 12

6. Planning and development Has planning permission been granted for further development of the village? 7. Facilities onsite at the village 7.1 The following facilities are available to residents as at the date of this statement. te: If the cost for any facility is not funded from the recurrent service charge paid by residents or there are any restrictions on access, a list is attached with the details. BBQ area outdoors Dining Room Hairdressing Room Resident s Lounge 7.2 Does the village have an onsite or attached residential or aged care facility? te: The retirement village owner or manager cannot keep places free for residents. To enter a residential or aged care facility, you must be assessed as eligible through an aged care assessment in accordance with the Commonwealth Aged Care Act 1997. 4 of 12

8. Services 8.1 Services provided to all village residents (funded from the recurrent service charge paid by residents): Annual auditing of village accounts Cleaning and maintenance of communal areas and facilities Maintenance and care of communal lawns and gardens Management and administration services Payment of all rates, taxes and charges for the communal areas and village facilities including for gas, water and electricity Operation of emergency call system Insurances referred to in 14.1 below External washing of unit windows twice yearly Changing of residents light globes when needed Weekly planned activity with Activity staff 8.2 Are optional services provided or made available to residents on a user-pays basis? If yes, the list of current services and fees is attached. 9. Entry costs and departure entitlement 9.1 The resident must pay: a refundable in-going contribution 9.2 If the resident must pay a refundable in-going contribution: the range is: $550,000 to $950,000 It is refunded: within 14 days of receipt of the next ingoing contribution 5 of 12

9.3 If the resident must pay a refundable in-going contribution, is a fee deducted at permanent departure? If yes, the departure fee is based on: 6% per annum - for the first 5 years of residence plus 1% per annum for the next 5 years of residence for a maximum number of 10 years of residence of the ingoing contribution of the next resident 9.4 If the resident must pay a nonrefundable in-going contribution, the amount is: 9.5 These costs must be paid by the resident on permanent departure, or are deducted from the refundable in-going contribution: NOT APPLICABLE Reinstatement or renovation of your unit 9.6 The estimated sale price ranges for all classes of units in the village (on a reinstated or renovated basis) as at 1 st July 2014 are: 1 bedroom unit: $550,000 2 bedroom unit: $600,000 to $950,000 10. Ongoing charges 10.1 The current rates of ongoing charges for new residents: Type of unit Service charge Long term maintenance fund charge Self-contained unit: $100.83 NOT APPLICABLE 6 of 12

11. Financial management of the village 11.1 The village operating surplus or deficit for the last financial year is: $(169,000) * This amount only includes the Deficit in the village operating costs after collection of the service charge income 11.2 Does the village have a long-term maintenance fund? 12. Capital gains or losses If the unit is sold, does the resident share in any capital gain or loss on the resale of their unit? If yes, the resident s share in any capital gain or loss is calculated using this formula: 50% of the amount by which your ingoing contribution exceeds the ingoing contribution paid by the next resident plus the departure fees and other fees as set out in paragraph 9.5 above. 7 of 12

13. Reinstatement or renovation of the unit Is the resident responsible for reinstatement or renovation of the unit on permanent departure? If yes, the resident must pay for: Replacing fixed floor coverings, repainting, cleaning and any minor essential repairs 14. Insurance 14.1 Is the village owner or manager responsible for arranging any insurance cover for the village? If yes, the village owner or manager is responsible for these insurance policies: Building Insurance Public Liability Insurance 14.2 Is the resident responsible for arranging any insurance cover? If yes, the resident is responsible for these insurance policies: It is recommended that residents have Home Contents Insurance 15. Security Does the village have a security system? 8 of 12

16. Emergency system Does the village have an emergency help system? If yes: the emergency help system details are: the emergency help system is monitored between: Emergency call bell and pendant in each unit 24 hours per day/7 days per week by onsite staff member in the Aged Care Facility 17. Resident restrictions 17.1 Are residents allowed to keep pets? If yes, any restrictions or conditions on pet ownership are available on request. 17.2 Are there restrictions on residents car parking in the village? If yes, details of parking restrictions are available on request. 17.3 Are there any restrictions on visitors car parking in the village? If yes, details of parking restrictions are available on request. 9 of 12

18. Accreditation Is the village accredited: under the Lifemark Village Scheme (administered by The British Standards Institution and initiated by the Property Council of Australia)? by the Australian Retirement Village Association? under the International Retirement Community Accreditation Scheme (administered by Quality Innovation Performance and initiated by Leading Age Services Australia)? 19. Resident input Does the village have a residents committee established under the Retirement Villages Act 1986? * Residents chose not to have a Resident s Committee. Residents and manager meet bi-monthly 20. Waiting list Does the village have a waiting list for entry? If yes, what is the fee to join the waiting list? fee 10 of 12

The following documents are in the possession or control of the owner or manager and can be inspected free of charge within seven days of a request (by law). Village site plan Plans of any units under construction The statutory statements and report presented to the previous annual meeting of the retirement village Statements of the balance of any capital works, capital replacement or maintenance fund at the end of the previous three financial years of the retirement village Examples of contracts that residents may have to enter into Planning permission for any further development of the village Village dispute resolution documents Declaration: The information in this factsheet is correct as at 1 st July 2014 11 of 12

ON SITE USER PAY SERVICES AT KARANA SERVICE AVAILABILITY COST Hairdresser Physiotherapy Strength & Conditioning Class Wednesday afternoon/thursday all day Tuesday and Thursday mornings Thursday morning and afternoon $90 perm Shampoo/Set $26-$29 Price on application $7 (assessment required) Podiatry Every 6 weeks $45 Delivery Daily Newspaper (Age/Herald Sun) Pharmacy Deliveries Monday - Sunday Monday Saturday Window Cleaning 6 monthly Inside $30 Meals in the Dining Room 7 days a week $9 for 2 courses Bus outings and activities in the Residents Lounge Wednesday Cost depends on activity 12 of 12