Easy-to-understand contracts, affordable entry costs and low weekly maintenance fees are just some of the benefits of living in an ECH retirement village.
By downsizing to a home in an ECH retirement village, there will also be a number of cost savings. You can say goodbye to paying water and council rates, stamp duty and building insurance, meaning more money to do the things you enjoy.
There are two ways to secure a home in an ECH retirement village – through a license to occupy or through renting.
What is a license to occupy?
You can enter into a contract, which will give you a license to live in the home. You will pay an affordable entry fee, which means you have a home for life or until you decide to leave. If you decide that this option is for you, it is important to know that you will not own your home. However you will have the security of knowing that it will be your home for as long as you need or want it.
If you enter into a license to occupy, you will pay a weekly maintenance fee that covers:
- Maintenance of your home both inside and out
- Repairs and upkeep of all appliances supplied by ECH
- A 24-hour emergency maintenance service
- Preventative maintenance both of your home and throughout your village
- Access to ECH Independent Living Services.
Unlike some retirement villages, ECH does not charge administration, re-marketing or refurbishment fees when you leave your home.
Each Residence Agreement and associated financial contract differs based on the location of the village, however ECH has homes to suit all budgets with a range of payment options available.
What about the rental option?
ECH also offers homes to rent in some retirement villages. If you enter a rental contract, then it is important for you to know that the length of time you will be able to live in the home is as per the terms of the agreement. You will pay weekly rent and you will be bound by the terms and conditions of a tenant under the Residential Tenancies Act.
ECH makes every effort to provide long-term housing security and works closely with residents to provide housing that best suits each resident’s needs.
To qualify for a rental property with ECH, you must meet the following criteria:
- Aged 65 or over
- Working less than 20 hours per week
- Have less than $70,000 in total assets*
To find out more about the lifestyle awaiting you in an ECH retirement village and about the different options available, contact ECH today.