Lighthouse Estate Geraldton is a Lease for Life Retirement Village

Lease for Life

• Incoming resident is not required to pay stamp duty on the purchase price of the lease
• There are no rates payable by the resident
• Low monthly management fees
• Management fee covers all external maintenance and upkeep of the village
• Maintenance and upkeep of the club house is covered under the management fee
• The resident has the exclusive right to occupy the unit for 60 years
• The resident is responsible for the internal upkeep of the unit including appliances
• Utility cost including electricity, water consumption and telephone are payable by the resident
• Contents insurance is required by the resident
• Retirees WA insures the village for its replacement value which is included in the management fee
• Outgoing fees include a 2% deferred management fee and a 0.5% major refit contribution for a maximum of ten years
• The resident may sell the unit at any time for the market value
• The unit can be sold by an agent chosen by the resident.