FAQ
How can I purchase a villa or apartment at a Masonic Care Queensland Retirement Village?
Villas and apartments at our villages can be purchased under a Loan and Licence Agreement for a competitive price. More information on a Loan and Licence Agreement is outlined below. Usually you can place a holding deposit on the apartment or villa of your choice and an additional deposit may be required at a later stage.
You will first need to obtain a copy of the Public Information Document (PID) for the villa or apartment of interested, which includes all the information you need to know regarding purchasing arrangements, fees and charges. We also strongly advise that you seek independent legal and financial advice.
For more information or to obtain a PID, please contact your nearest Masonic Care Queensland Retirement Village.
What is a Loan and Licence Agreement?
A Loan and Licence Agreement is where you pay an ingoing contribution or Loan (purchase price) to the Scheme Operator and in return receive a Licence to Occupy and the right to reside in the Accommodation Unit under the terms of the Agreement. Most not-for-profit retirement villages operate under Loan and Licence Agreements.
What is a Public Information Document?
A Public Information Document (PID) contains detailed information about purchasing an accommodation unit (apartment, villa or similar) in a retirement village and has been registered with the Office of Fair Trading. By law, all retirement villages are required to provide a copy of this document to anyone who is considering purchasing into their retirement village.
The PID contains information about:
- Accommodation types
- The costs of units
- Village facilities
- Village land
- Residents’ rights and obligations
- Fees and charges
- Mandatory funds
- The resale process and exit entitlement
- Exit fees
- Financial information
- The dispute resolution process.
For a copy of our Public Information Document for any of our retirement village apartments or villas, please contact your nearest Masonic Care Queensland retirement village.
Are there any other fees and charges?
As a resident of a retirement village, you will be required to pay a monthly General Services Fee, including a Maintenance Reserve Fund Contribution. This covers the actual costs to run and maintain the village. You will also be required to pay a Deferred Management Fee/Exit Fee when you vacate the apartment or villa. These fees and charges are outlined in the Public Information Document for each village and a copy can be obtained by contacting your nearest Masonic Care Queensland retirement village.
Will I receive priority for the residential aged care facility?
If you live in one of our retirement villages, are assessed as requiring care and can no longer live independently in your apartment or villa, or you require respite care for a period of time, Masonic Care Queensland will endeavour to offer you the next available bed, which meets your required care needs, in our residential care facilities. Of course, places in our residential aged care facilities are subject to availability, assessment by the Aged Care Assessment Team (ACAT) and are dependent on your care needs. As with most aged care facilities, fees and charges apply.
