We understand that residents are often on fixed incomes and need certainty regarding potential weekly fee increases. Generus Living offers both fixed and Consumer Price Indexed (CPI) village tariffs. When you move to a Generus Living village and choose a village tariff that is fixed for life, it will never increase. Alternatively, tariffs based on CPI are reviewed only once per year and will not rise beyond the percentage change in the CPI, providing you with assurance over your annual expenses.
As part of the Generus Living offering, our approach to repairs and maintenance is straightforward and transparent. We, as the Operator, supply the chattel, while residents are responsible for maintaining the items they use. When an item reaches the end of its economic useful life, we, as the Operator, will replace it. This policy is clearly outlined in our Disclosure Statement and further detailed in our Explanatory Guide.
Residents in Generus Living villages are able to move from villas to apartments without paying a double deferred management contribution. The village contribution is calculated based on the difference between the entry payments of your original apartment and the new one.
Our villages are designed to enable residents to “age in place” for as long as possible. We recognise the importance of your home and are committed to providing the necessary support services. However, in some inevitable cases it may be necessary for residents to move to a Care Centre. Generus Living is committed to developing care facilities at all our villages. All residents have priority to Generus Living Care Centres should you or your partner require more specialised care and attention.
Your village tariff will cease once your license is terminated and your unit is vacated. We approach the refurbishment and relicensing of units as expeditiously as possible. In the unlikely event that we have not paid the termination sum within a 9-month period, then we will rebate the deferred management fee at the same rate as it was originally accrued.
When your unit is relicensed, any potential relicensing gain or loss is not attributed to the resident. Your termination figure is certain and known at all times. There are no hidden costs when you leave; you will not be charged any commissions, selling fees, legal fees, or marketing costs.
Retirement villages are regulated by Retirement Villages Act 2003, Code of Practice and Code of Residents Rights. The legislation is focused on providing comprehensive consumer protection for residents and intending residents. These protections include: