RETIREMENT VILLAGE CALCULATORS

 

NSW Fair Trading provide the following calculators to assist prospective residents. 

   
    
Retirement village calculator    
    

This calculator is designed to assist prospective residents. There is a basic calculator and a detailed calculator.    

Details are available in the link below.    
http://rvcalculator.fairtrading.nsw.gov.au/
    

The average resident comparison figure (ARCF)    
    

The ARCF must be included in disclosure statements.    

The ARCF is the sum of the following fees and charges over an assumed residency period of seven years (84 months),  
averaged to a monthly figure:    
    

  • the total amount of recurrent charges payable under the village contract
  • the departure fee payable by the resident if the premises are permanently vacated at the end of that period; and
  • capital gains, if any, payable to the operator by the resident in respect of the unit.

    
The calculation is as follows:    
(total amount of recurrent charges over 7 years + the departure fee payable after 7 years + the share of any variance in entry price to the next resident 'capital gain') ÷ 84 months.    
    
Details are available in the link below.    
https://www.fairtrading.nsw.gov.au/resource-library/housing-and-property/retirement-villages/average-resident-comparison-figure