We understand your transition involves careful consideration, and we’re here to provide you with the professional guidance you’ll need. Let’s address some common questions to ensure you have a clear understanding of what to expect as you embark on this exciting chapter.
What’s the Fixed Weekly Service Fees?
Weekly fees contribute toward the villages day-to-day services such as rates, insurance, emergency monitoring, grounds maintenance, and more.
On entry, residents choose one of the two options for Weekly Service Fees
- Variable Weekly Service Fee
Residents can choose a variable fee option, which is set at $135.00 per week on entry. This fee will increase each year by no more than the percentage rise in National Superannuation. - Fixed Weekly Service Fees:
Our Fixed Weekly Service Fees provide stability throughout your residency, with no annual increase. This fee is fixed at $157.00 per week for your entire residency in the village, allowing you to budget clearly.
What happens with other expenses
Residents retain responsibility for personal utilities, electricity being the main consideration and additional services, perhaps internet broadband or subscription services like Netflix or SKY TV.
What is the Deferred Management Fee (DMF)?
The DMF in an Archer Village is an annual fee of 7.5%, over the first four years of your occupancy in the village, with a maximum deduction of 30% of the original purchase price and is deducted on exiting the village at the end of your tenancy.
A Deferred Management Fee is a way of paying for the services and facilities provided in a retirement village. Instead of paying large weekly fees, residents typically contribute a DMF, which is a percentage of the of the entry price. This fee helps cover the costs of maintaining the village, upgrading facilities, and providing ongoing services, such as gardening and communal activities. The importance of the DMF lies in its role in sustaining the village’s quality of life for residents. It allows people to access a comfortable and supportive retirement living environment and making it more financially manageable.