The Estate Manager is your primary contact for any assistance that you require. They look after the day-to-day management of the Estate to ensure everything is running smoothly and that services are being provided in a friendly, effective and efficient manner.
Wodonga Gardens Retirement Estate is lucky to have a dedicated group of Residents who volunteer their time to be members of the Residents’ Committee. This Committee meets regularly with the Estate Manager and Gannon Lifestyle Group management to ensure that there is a regular flow of information and that resident proposals or concerns are addressed. The Residents’ Committee is also responsible for organizing a range of social activities and groups.
The Directors and CEO of Gannon Lifestyle Group are passionate about developing good relationships with all residents and regularly visit the Estate to attend resident functions and meet with residents. As part of our resident communications we hold 2 full resident meetings each year and meet with either the Resident Committee or a delegation quarterly.
The maintenance fee covers the communal costs of operating the Estate. These costs include Estate staff, Estate repairs and maintenance, insurance, communal utility costs including water, security and gardens.
An Estate budget is prepared annually in consultation with residents. Maintenance Fees are increased on 1 July based on the budget costs. In setting Maintenance Fee increases we are mindful of resident incomes and work to ensure Estate costs are well controlled.
Retirement Villages are operated under state based legislation. In Victoria this is the Retirement Villages Act 1986. The act provides a range of protections around the License to Occupy agreement, resident consultation processes and resale entitlements.
You can seek further information about VIC Retirement Village legislation from:
Victorian Department of Consumer Affairs 1300 55 81 81.
Council on the Ageing (COTA) 03 9654 4443.
Residents of Retirement Villages Victoria (RRVV) 03 9015 8402.
The Estate has two funds: a Capital Replacement fund and a Long-term Maintenance fund.
We will pay up to 6% of the deferred management fee from each resale into the capital replacement fund. This fund will be used for replacing capital items, both within your home and the Estate’s communal areas, once they reach the end of their useful life.
The long-term maintenance fund is funded through a contribution from your maintenance fees. This fund will be used to cover the cost of major repairs to capital items.
You can stay in your home, usually as long as you can cope with it and can look after yourself, provided you qualify for occupancy under state laws and the terms of the Estate Contract. It can sometimes be a problem if the Estate contract is in name of the deceased resident only. For better protection, the Estate contract should always be obtained in joint names.
The Deferred Management Fee (DMF) is the amount retained from the re-sale of your home when it is sold. The majority of retirement villages in Australia use this model. The DMF model allows for a portion of the entry premium to be deferred until you leave the Estate. While living at Wodonga Gardens Retirement Estate you enjoy the benefit of a range of community facilities which aren’t available to people living outside of the estate. In addition we maintain your villa, so you don’t need to worry about expensive home maintenance.
Yes. Under our standard contract if the home is sold for an amount that produces a capital gain, you will receive a share of the capital gain. For example, if a home is purchased for $350,000 and sold 10 years later for $450,000 the DMF will be based on the sale price ($450,000). The resident receives $450,000 less the DMF and other fees that may be applicable (any other fees, if charged, are clearly disclosed in the Contract and to the resident before signing a Contract).
Who Operates the Estate?
Gannon lifestyle communities are the operator and developer of the Wodonga Gardens Estate. The Gannon family with over 30 years of experience in retirement living has earned a strong reputation for building some of the most successful and desirable retirement communities in this country.
A true family business with Australian family values, Gannon lifestyle communities is a Signatory to the Retirement Living Code of Conduct. To learn more about the retirement living or the code of conduct visit www.awisemove.com.au.
Need more information?
For more specific information and advice relating to your situation, call our friendly Estate Manager Ruth Forrest on 02 6059 2690 or 0409 115 824.
Or why not pay us a visit? Phone for an appointment. We’re open Monday to Friday, 11am – 3pm, 2 Flinders Way West Wodonga, Victoria.