Retirement villages
Many retirement villages have Owners corporations, and in a strata-titled village, the unit owners are automatically members of the Owners corporation with all the rights to attend Owners corporation meetings and stand for election to the owners corporation committee.
Platinum Strata is experienced in implementing protocols that provide a benchmark of good practice to address commonly arising issues and promote good relations in villages to enhance the experience of residents as prescribed by the government and consumer affairs.
Such legally binding protocols and codes of conduct set out specific standards for this industry. In contrast, protocols specify agreed, good-practice measures that both strata and retirement village managers can apply.
Engaging an experienced Owner corporation manager may be invaluable when dealing with additional Legal obligations.
- Units with freehold title to an Owners corporations lot lots, whereas a caveat may be registered on the title of the property by the retirement village manager.
- Automatically become a member of more than one Owners Corporation if applicable, and levies may depend on the extent to which the village manager is responsible for the communal property (e.g., maintenance, capital upgrades, etc.);
- Additional contractual documents with costs may exist with the retirement village manager and how those obligations may affect the resale value of your unit.
In a nutshell, The Owners Corporations Act 2006, the Retirement Villages Act 1986 and your specific contract with the village manager will regulate how you use and financially contribute to the retirement village and its operation.