Loan/Lease Tenure - Retirement Living 

Carinya Retirement Village offer a Loan/Lease Tenure option for all of our Curphey Court and Farrell Drive Units.  Our newest development being Farrell Drive offer 2 Spacious Bedrooms, Open Plan Living and Kitchen area, Alfresco, Secure Garage and a Low Maintenance Garden.
Most recently, four units have been completed in Farrell drive and offer a brilliant view of the adjoining farming land and rolling hills. Generally we have a wait list for our new units and occupancy occurs immediately after development has finished.  Registering your interest is advisable to avoid disappointment.  Carinya do offer a deposit option to secure new units "off-the-plan", this means you can secure your preferred unit before building has been completed.
How does a Loan/Lease Tenure work?
Carinya has developed a Loan/Lease Tenure agreement which is transparent and upfront.  Whilst residents will never own the house they live in, they will also never have to worry about being unable to sell their home either (which sometimes can be hard given Retirement Villages are a niche market).  To Loan/Lease Tenure a Carinya home residents will need to pay the below fees (including but not limited to)
In-going contribution is a once-off refundable payment made by a resident to Carinya in return for obtaining the right to live in a home at Carinya Retirement Village under the terms of a retirement village contract.
Ongoing fees are payable on a fortnightly basis as a contribution to the day to day running costs of the Carinya Retirement Village. The setting of service fees, including the annual budgeting process, occurs in accordance with the retirement villages legislation that applies in the State in which the community is located. Fees include such things as general maintenance of homes and retirement village, council rates and some community activities (Carinya Hub).

Exit fees* are used to keep our retirement village running, make improvements and ensure we can continue to provide the lifestyle our residents enjoy now, and into the future.  Carinya Exit fee is drawn down by 5% of the in-going contribution each year of living in your home. Carinya Retirement Village Exit fee is capped at 30% of the in-going contribution you have paid. * Exit fees may vary/change as per individual contract arrangements.
For Example
In-going Contribution:            $250,000
On-going Fees:                        $200.00 per fortnight
Exit Fees (based on 6 years):   $75,000
Total In-going Contribution Refunded: $175,000*
*Total refunded amount is an example and may vary/change at any time in any individual contract
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Location: Korumburra, Victoria, 3950

Carinya Aged Care and Retirement Living