Mary Doyle is a registered retirement village under the Retirement Villages Act 2003, and certain requirements must be met when moving into a unit in a retirement village.

This includes our providing you with a number of legal documents. These requirements are designed to protect your decision. Your solicitor will be able to go through these documents and ensure that you understand what they mean.

The following is an outline of the required documents and an explanation of some of the key terms that are used.

Mary Doyle’s registration number is 2040616.

 

Documentation

When you are considering moving into a Retirement Village, you must be given a copy of these documents:

  • Disclosure Statement
  • Occupation Right Agreement
  • Code of Residents’ Rights
  • Code of Practice

You are also entitled to receive a copy of the Deed of Supervision, the most recent financial accounts and our management agreement, should you wish to see them. On entry to the village you will be provided with a Residents’ Manual, which will provide you with comprehensive details about our village, the village rules and its processes.

 

Key terms

Disclosure statement

This document outlines the village ownership structure, the condition of the village and its buildings, the services available, what happens when you terminate your occupation Right Agreement, the charges payable by you, and your rights as a resident in the village.

 

Occupation right agreement

This is a written agreement which gives you the right to occupy your villa or apartment. It is an agreement between yourself and the village operator, and specifies the terms and conditions which apply to your occupation at the village and the charges payable by you.

 

Code of residents' rights

This is a list which details your rights when you enter a retirement village.

 

Code of practice

This document sets out the minimum requirements that the village operator must ensure are carried out, in order to meet their legal obligations under the Retirement Villages Act 2003.

 

Complaints process

This document explains how to make a complaint and the process that will be implemented following a complaint.

 

Capital sum

This is the amount required to purchase the right to occupy your villa or apartment.

 

Capital deduction

The Capital Deduction is for the provision of the communal areas and facilities around the village. It is an amount deducted from your Capital Sum at settlement when you leave your villa or apartment. The Capital Deduction amount is 24% of your Capital Sum and is amortised over your first three years of Occupation for a villa or two years for Occupation of an apartment. If you vacate your villa or apartment within this period, you will only pay the apportioned amount up to the date of sale. For full details, please refer to the Disclosure Statement.

 

Administration fee

The Administration Fee is 5% of your capital sum and is deducted from your capital sum when repaid to you at date of sale.

 

Refurbishment of unit

When it comes time to sell your villa or apartment, the interior of your home will be refurbished as required. This ensures that your home will look at its best to attract another resident. The cost of the refurbishment is covered by the village operator, so it is at no cost to you.

If the interior of your unit has been damaged during your occupation, and this damage is not attributable to fair wear and tear, then the cost of repairing this damage will be payable by you.

 

Statutory supervisor

The Statutory Supervisor is a company appointed by the village operator to protect the residents’ interests. They are responsible for ensuring your rights are upheld under the Occupation Right Agreement and the Disclosure Statement. Covenant Trustee Services Limited has been our Statutory Supervisor for many years Covenant Trustee Services Ltd is a respected and well established company, and our residents have appreciated their support.