A Village Resident Budget ensures that your new home is well kept and is in the best shape it can be.
Spending of the Village Resident Budget is approved each year by the village residents and the fee paid by residents will vary, depending on the services offered and the staffing required at the village.
Catholic Healthcare’s management team meet with residents each year to determine the village needs for the coming financial year and attend regular meetings to stay in touch with the needs of residents.
A statement of proposed expenditure is prepared and presented to residents for their comment and review. Residents then have time to revise and approve the planned expenditure.
Once approved, the proposed expenditure statement becomes the Village Resident Budget.
Catholic Healthcare cannot spend money outside of what has been approved in the budget without the express permission of residents. Quarterly financial reports are available for all residents.
Fees generally include but may not be limited to:
• Staff costs – such as manager/coordinator, gardener, maintenance officer
• Repairs and maintenance of items within the village
• Relevant insurances
• Resident transport and motor vehicle costs
• Emergency call systems
• Fire and safety monitoring
• Specialist contractors for maintenence
• Utilities such as electricity, water and garbage disposal
Audited financial reports are distributed to residents at the end of each financial year.
We hope you’ll never want to leave Catholic Healthcare, but if you do please check your contract to see whether you need to pay an exit fee or if there is any capital gains sharing on the resale of your unit.
Exit fees and other leaving costs could be dependent on how long you have lived in the village. At Catholic Healthcare the exit fee is applied to your purchase price of the unit and details would have been outlined in your original disclosure statement.
We will refund your in-going contribution within 14 days of settlement with a new client. However if we haven’t re-sold the unit after 6 months we will refund your in-going contribution. All costs of refurbishing the unit for sale and the marketing are the responsibility of Catholic Healthcare.