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Our Amaroo lifestyle villages are vibrant communities where people live independent and active lives surrounded by other like-minded individuals.
At Amaroo we offer a range of affordable units that are designed to suit every lifestyle and budget.
However, we understand that moving into a lifestyle village is an important decision that still requires considerable thought.
To help you in this process, this blog post covers many frequently asked questions surrounding the cost of living in one of our lifestyle villages.
Types of units in our Amaroo Village
1. RFU (Resident funded unit):
An RFU is a lease for life. This means that you pay an ingoing premium (sale price) which can range anywhere from $200k to $450k.
You do not own the property itself; you are just leasing the unit for life.
This means that you won’t pay stamp duty, council rates, or have a title to the land. Once your time at Amaroo has finished, the unit will be returned to Amaroo.
2. Rental:
Rentals at Amaroo are under a 1-year lease. There are 1 and 2 bedroom units that are available to rent.
3. DoH (Department of Housing unit):
To qualify for these units, you must be on the waitlist with the Department of Housing and be able to provide us an official letter from DOH. You must also be able to provide a Centrelink income and assets statement. Your rent will be calculated on the documentation that is provided.
Please note if a unit is a rental or DOH it will be clearly stated within our website listing.
Entry fees
The application fee is the initial fee you’ll need to pay when beginning the purchase or rental process.
Types of entry fees vary depending on the type of unit you are applying for.
RFU (Resident funded unit):
a. A non-refundable $660.00 application fee.
b. A $1000 deposit that is deducted from the purchase price once the disclosure form is signed.
Rental:
a. A non-refundable $550.00 application fee.
b. A bond payment (two fortnightly rent payments in advance).
DoH:
a. A bond payment (two fortnightly rent payments in advance).
Service fees
When you move into a village, every resident that occupies a unit will pay a service fortnightly fee regardless of renting or purchasing a property.
When you pay this fee, it covers water consumption, general maintenance of the unit, maintaining common areas and facilities, emergency levies and insurance.
Please note that it’s the resident’s responsibility to pay for their contents insurance and electricity.
No exit fees
We do not have exit fees at Amaroo Village.
In signing the RFU Lease Residency Agreement you agree to pay Amaroo Village a non-refundable Management Fee and contribution to the Reserve Fund from the Ingoing Premium (total of 4.05% each year for the first 10 years, then percentages change after the 10-year period)
What if I want to leave?
Regarding RFUs, if you choose to depart Amaroo Village, written notice of 30 days is required.
You will need to pay 30 days of service fees regardless of keys being handed back earlier. If you require more time, you will be charged until the keys are returned.
Once the keys are returned you will continue to pay service fees for up to 45 days while the unit is re-listed for sale. This timeframe gives you certainty as you do not have to wait longer for a sale to recover your money, with no hidden costs.
Once the inspection and handover of keys has been completed, you will be refunded the amount as per your signed agreement.
- The Management Fee
- The contribution to the Reserve Fund
- Any other outstanding amounts payable to Amaroo Village in accordance with the lease (i.e. resident/s share of the Village operating costs).
Refunds are made within 45 days of the keys being returned.
We are here to help you.
Our staff are happy to discuss with you your most suitable options based on your individual circumstances.
If you have any questions about our costs, call us today on 1300 653 967 or enquire here to learn more.