Leura Fairways - Elegant Living for over 55's

Frequently Asked Questions & the Answers


Q1: Why is Leura Fairways sold under Leasehold Title?	A 99-year Leasehold Title begins the day you settle, or move into your Leura Fairways unit. Under this system you gain the benefit of private ownership without the usual unwanted responsibilities of rates, taxes and maintenance, etc., associated with other forms of Title. Management takes over those duties on your behalf. Your unit is also refurbished to the acceptable Leura Fairways standard prior to re-sale to ensure on-going quality is maintained.
Q2: What happens to the purchaser of my 99 year lease?	Your Leasehold Title is surrendered or terminated when you sell your unit and the incoming lessee gets a brand new 99-year lease.
Q3: What happens to my capital investment under Leasehold Title?	You receive clear title of occupancy and you are protected from any claims against the Freehold Title of the village as a whole.
Q4: When I sell, what do I get back?	When your Lease is terminated or you sell, you will receive the price paid by the incoming lessee less Deferred Management Fee (if you take the deferred option) selling fees, any legal fees, outstanding levies or service charges, repainting and, if necessary, recarpeting and kitchen refurbishment costs.
Q5: What is the Management Fee?	A Management Fee is the Developers method of recouping the cost of any central facilities at Leura Fairways. If the purchasor chooses the Deferred Management Fee option this will be at the rate of 1% per annum for ten years of the purchase price and 50% of the capital gain. The DMF fee only becomes payable when you sell the unit. We also offer you the option of pre-paying the Management Fee.
Q6: What are the monthly outgoings?	The current levy estimate amount is $366.00 per month, and will be subject to six-monthly reviews in January and July.
Q7: On purchasing my unit, what other expenses do I have?	You will be required to pay Land Title Office Registration fees, Stamp Duty on your lease and legal fees. You would, of course, have the usual costs involved in removal charges and service connection fees.
Q8: What other personal care can be arranged?	Should you need assistance, the management have the facility to arrange for you, on a user pays basis, laundry service, meal service, cleaning, personal assistance, maintenance and repairs, transport, doctors and nursing assistance.
Q9: What are my responsibilities as a resident?	You will be responsible for the ongoing internal decorating and maintenance of your unit, your personal electricity and gas charges, your telephone account and your contents insurance. The linings of all your curtains and blinds will have to comply with the village standard and the rules and regulations of the common areas have to be adhered to. As you would anticipate, the standards of Leura Fairways will be those you would expect and wish to enjoy. Our Resident Information given when you decide to enter the village explains responsibilities in detail.
Q10: What utilities and services are connected to my unit?	Telephone, water, sewerage gas and electricity are connected underground and there are TV outlets and emergency call buttons. Your electricity and telephone are independently metered, and along with your contents insurance and repairs to your appliances, remain at your cost. Water, sewerage and council rates are covered by your monthly maintenance levy.
Q11: Can I let my unit?	It is not envisaged you will have the need to let your unit, therefore sub-leasing is not anticipated. However, should exceptional circumstances apply, the matter is open for discussion with the management.
Q12: What about children?	We expect children are a part of your life and we hope you will keep up your family ties. Children are always welcome and may reside with you under the same conditions as other guests.
Q13: Can friends or relatives jointly buy a unit?	Yes. However this must be initiated at the time of purchase and the appropriate notations entered on the lease.
Q14: What do I do with my garbage?	We have our own garbage disposal areas, so just pop your plastic bag of rubbish in the appropriate receptacle on the way past. Bottles and papers are also to be placed in these areas for recycling.
Q15: What about my washing?	Normally personal washing will be done in your unit and dried in your dryer.
Q16: Where do I wash my car?	Car washing area is provided.
Q17: Where do I collect my mail?	All mail is delivered to units.
Q18: Do I need my own TV antenna?	No. We will have a central antenna for the whole of Leura Fairways for all TV transmissions available in the area including cable TV.
Q19: What optional extras are available?	Click HERE for a list of optional extras. These can be installed to facilitate your ‘move in’ arrangements
Q20: Can I fit ceiling fans?	Ceiling fans can be fitted with your light fittings. Several varieties are available on the market.
Q21: How do I secure the unit of my choice?	Simply by placing $1,000 holding deposit on the unit you choose. This enables you to arrange your affairs without the worry of losing the unit on which you have set your heart. Your holding deposit is refundable at any time upon request, less $300.00 if, at your request our solicitors have prepared lease documents specifically for you.
Q22: Affiliations?	Leura Fairways has no religious or political affiliations. We are a resident funded village and receive no subsidies. Leura Fairways is a member of the Retirement Villages Association.
Q23: Who should I contact for further information?	Please call Leura Fairways on Freecall 1800 088 255 between the hours of 10.00am and 4.00pm each day.