NORTHERN YORKE PENINSULA HOMES

 

Affordable Independent Retirement Living

Our Terms, Conditions and Costs

Rental Conditions

 Some of the units at the Wontama Homes complex are available for rent. All conditions of rental are laid down under the Residential Tenancies Act 1995. A bond amount of one (1) month’s rental is payable in advance. Rent payments are due on the 1st day of each calendar month.

Tenants are responsible for their own internal electricity, home and contents insurance premiums and telephone costs, and for the upkeep and maintenance of the rear gardens, excepting lawns.

Tenants are also responsible for their own furniture, carpets, window coverings and light fittings.

If a tenant leaves a unit, any bond money paid will be returned in full on the proviso that the unit is returned to the correct condition as per the Residential Tenancies Act 1995.

 

Ingoing Buy-In Conditions

Ingoing contracts cover all legal requirements in the Retirement Villages Act 2016 and the Aged Care Act 1997.

A deposit must be paid upon contract signing. The remainder of monies due is payable to our solicitor after the resident has been in residence for 3 months. In the event that the resident is unable to pay in full after 3 months, an interest charge is payable on the outstanding ingoing contribution amount. The current interest charge is set at 6.5% and is calculated and charged monthly until the arrears amount is paid in full.

 An ingoing contribution amount is required for each unit, along with a recurrent monthly charge.

Monthly charges cover the cost of all repairs and maintenance, painting, rates and taxes, and gardening to the front of the units, including lawn mowing.

 

Wontama Homes – East Terrace:

Ingoing contribution: $110,000

Recurrent monthly charge: $307

 

RSL Cottages – Ewing Street:

Ingoing contribution: $130,000

Recurrent monthly charge: $307

 

Russen Place – Goyder Street/Doswell Terrace:

2 bedroom units

Ingoing contribution: $175,000

Recurrent monthly charge: $307

 

2 bedroom + study

Ingoing contribution: $180,000

Recurrent monthly charge: $318

 

The exit entitlement after payment of the exit fee (if applicable) is to be returned to the tenants upon leaving. Full details of exit entitlements are explained in the Contract.

 Upon leaving, the resident receives an exit entitlement of no less than 75% of the property’s current market value. After vacating, if the property is not relicensed within 18 months, the resident must be repaid at 75% of current market value.  The resident can elect at 18 months to delay repayment and receive 75% of the selling price.

 If the resident elects to leave early, a different percentage of the exit entitlement is returned at an amount that is explained in detail in the Contract.

 

For more information about the availability of our affordable retirement living homes, please contact NYP Homes

 

More Info

If you would like any further information regarding any of our properties, please enter your contact details along with your question and we will get back to you.

Address:

PO Box 256 Kadina,

South Australia 5554

Email Us:

nyphomesinc@outlook.com

Contact Us