Be at ease with Life Rights
Life Rights – The Added Value Factors
- The Developers remain involved and do not move on after all Life Rights have
- The Developers, through their ongoing involvement, will ensure that high standards are maintained throughout the Village to ensure that the Life Rights 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 has 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.
- When a Life Right comes up for regrant, the Developers will ensure that the apartment/cottage is refurbished to maximise the value.
- The regrant formula provides for the refund of the original purchase price, plus
50% of the profit after commission contribution to the levy stabilisation fund and any refurbishment costs.
- The Developers employ their own onsite agents to conduct the sale of existing
Life Rights, regrants 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 Estate of having to find the money to pay the levy until the
Life Right has been regranted.
- The Developers will consider providing limited loan finance to assist with the regrant of a Life Right.
- The Developers will control a database of future purchasers in order to facilitate future regrants.