The security of leasehold
The major advantage for a resident in a leasehold title retirement village is that the owner has a long-term financial interest in the continuing success of the village.
The owner of a leasehold village is the party bound to provide the services, facilities and maintenance. The rights and obligations of residents are clearly set out in the lease, and cannot be changed without your consent.
Continuity of management is assured by leasehold, and residents of a leasehold village need not be concerned with management issues and village infrastructure if they do not wish.
Security of tenure is guaranteed by registration of the leasehold interest at the Land Titles Office (NSW), and Department of Natural Resources (QLD). All new Living Choice leases are lifetime leases of 99 years.
A considerable saving on stamp duty is also achieved for residents under a leasehold arrangement. For more information, see the section entitled Other important information.