We know that moving to a village is a major decision. While experience and research shows residents rarely, if ever*, regret the move, we believe it important that residents have clarity on certain issues about normal retirement village practice. As such we give the following commitment, which is reflected in our village documentation.
We appreciate that residents are on fixed incomes and as such, require some certainty over possible weekly fee increases. When you move to the Village, the full village tariff will never increase by more than the consumers price index and increases will only occur on an annual basis. In addition, residents will pay a reduced village tariff until the principal facilities are completed.
We do not charge multiple village contributions if you move within the village i.e. from a villa to a serviced apartment. The amount of the village contribution payable depends on the relative entry payments of your original unit and your subsequent unit.
We have designed the village to enable residents to “age in place” for as long as possible. We know residents enjoy their homes and we commit to do everything possible to deliver care, meals and other services for as long as you can practically stay in your home.
Notwithstanding this, subject to resource consent, full hospital care is planned for the village, and where possible we will prioritise your access should you or your partner require more specialist care and attention.
We want to assure residents that we will do our utmost to ensure a rapid relicensing of your unit when you leave the village. Accordingly, your village tariff payment will stop when your licence terminates and your unit has been vacated.
The Retirement Villages Act requires weekly tariffs to reduce by 50% after six months; we have gone further, ceasing the village tariff completely on termination and vacation.
We undertake that on relicensing of your unit the amount paid to you will not be reduced as a result of a lower Entry Payment being paid by the incoming resident if unit prices have fallen. If there is a “capital loss”, we suffer this loss, not you.
Pacific Coast Village accepts full responsibility for the refurbishment, marketing and relicensing of your unit, minimising costs and inconvenience to you. There are no hidden costs when you leave, you will not be charged any commissions, selling fees, legal fees or marketing costs when we relicense your unit. In addition you will not be liable for costs to refurbish your unit unless you have caused damage beyond reasonable fair wear and tear.
We want to demonstrate our commitment to minimising the length of time taken to relicense your unit when you leave the village. Consequently, if we have been unable to relicense your units within six months, we will rebate your village contribution back to you from that date at the same rate as it accrued to us.
We say: “If we have charged you a village contribution over time, then if we have not sold your unit after six months it’s only fair we reimburse you for this at the same rate.” We are unaware of any other village operator that makes this level of commitment.
It is important that residents have input into their community and we commit to regular meetings with the Residents’ Committee and where possible, incorporate suggestions to improve the way we operate the village.
If you are unhappy after your move to the Village and you choose to leave within three months, after giving us notice in writing, and on relicensing of your unit, we will refund 100% of the Entry Payment and make no deduction for any village contribution accrued.
If a resident is faced with a situation of financial difficulty, we will consider providing financial assistance to the resident.
Residents move to a retirement village for a variety of reasons but one main driver is often the quality of the village, particularly the buildings, facilities and gardens. We give our commitment to maintain that level of quality in everything we do, whether in design, construction or operation of the village.
Above all else, we give our absolute commitment to listen to you, to try to do our best, and at all times, to treat residents with the respect that they, our valued customers, deserve.
For full details refer to the Village Occupation Right Agreement and Disclosure Statement.
Occupation Right Agreements will be secured by a first ranking mortgage in favour of the village's statutory supervisor.