Templestowe Orchards Retirement Living, East Doncaster, Melbourne

Ingoing Loan

All serviced Apartments at Templestowe Orchards are occupied under a loan / lease agreement, where the resident pays a loan to the Company (Templestowe Baptist Church Community Centre) in exchange for the right to occupy an Apartment and use the Village facilities for the term of the lease. Flexible financial arrangements are available just come and talk to us.

The current loan amounts are:

A Deposit of $2,500 is payable to secure the Apartment for 28 days prior to signing the lease. The balance of the loan is payable on settlement or as negotiated. You can also pay $1000 to go on our Waiting List which will be taken off the ingoing fee or refunded if you decide not to pursue in the future.

Repayment of Loan

The loan, less a deferred management fee (DMF), is repaid to the exiting resident (or their estate) within fourteen days following re-letting of the Apartment. In the case of a short-term occupancy, i.e. not exceeding nine months, the deferred management fee is a pro rata amount of the DMF at nine months.

For a period of occupancy exceeding nine months but not exceeding two years, the DMF is twenty percent (20%) of the new re-letting loan amount. For a period of occupancy exceeding two years, the DMF is calculated at a rate of twenty percent (20%) for the first two years plus six and one half percent pro rata (6.5%) for each additional year of occupancy (or pro rata thereof), but subject to a cumulative maximum of sixty five percent (65%). The percentage so calculated is applied to the new re-letting loan amount.

At the termination of the lease there are some additional re letting charges such as marketing costs and refurbishing the Apartment for sale

Maintenance Fee

There is a monthly maintenance fee which is as follows:

The maintenance fee is applied towards payment of all municipal, water and sewerage rates, electricity, gas, insurance on buildings and $15,000 cover for resident�s contents, provision of all meals, weekly cleaning and laundry services and various costs and expenses associated with the personal care and support of the resident. An extra service fee will be charged should the resident require additional care.

Maintenance fees, loan amounts and availability of serviced Apartments are subject to confirmation at the time of purchase and may change without notice. In special circumstances other loan arrangements may be negotiated with Management.