Latest News - Life Rights

Life Rights - The Added Value Factors

• The Developers remain involved and do not move on after all units have been sold.
• The Developers through their ongoing involvement will ensure that high standards are maintained throughout the Village to ensure that the units will increase in value.
• The Developers have extensive experience in the development and management of Life Right Retirement Villages.
• The Developers will always have representation on the Management Committee to ensure the smooth operation of the Village including the preparation of budgets.
• There are no management fees charged by the Developers.
• The Developers will ensure that the Village is properly staffed and that any labour issues will be dealt with, without burdening the residents.
• Not charging any rental for facilities such as the kitchen, two restaurants, the pub and the hairdresser.  This will have the effect of reducing the cost of these services to residents.
• Retaining ownership of the Care Centre independently from the Village.  Residents levies will not be affected should the Care Centre not be profitable.
• There is no VAT or transfer duty payable for Life Rights ownership.
• The Developers have contributed R200,000 to the establishment of the levy stabilisation fund and will continue to pay 50% towards the levy stabilisation fund from any resales.
• When a unit comes up for resale the Developers will ensure that it is refurbished to maximise the value and will contribute 50% towards the cost.
• The Developers will also contribute 50% towards the resale commission in terms of the resale formula.
• The resale formula provides for the refund of the original purchase price plus 50% of the profit after costs.
• The Developers employ their own on site agents to handle the sale of existing units, resales and future phases.  These agents are trained in the sale of Life Rights and are therefore able to offer valuable advice.
• When a resident passes away, the Developers will assume responsibility for the levy relieving the family of having to find the money to pay the levy until the unit has been resold.
• The Developers will consider providing limited loan finance to assist with the resale of a Life Right.
• The Developers will control a database of future purchasers in order to facilitate future resales.

Example

Please call Lynne on 073 2100577 or Anne on 082 568 6331 for further information.