Choosing a retirement village
A guide for prospective residents and their families on contracts, fees and rights when moving into a retirement village, ensuring informed decisions.
Reasons you might choose to move into a retirement village
Some reasons people may wish to move into a retirement village include:
- safety and security – living in a community with people at a similar stage of life can make residents feel safer
- a sense of community – reducing isolation, more access to organised activities and to others with shared interests
- downsizing – moving out of a larger family home to a smaller, more easily managed and accessible space
- lower maintenance – having many repair and maintenance issues managed by the village including gardens and grounds
- access to higher care facilities – in some cases, a retirement village may have advanced care options as your needs change.
Take time to consider your options and discuss them with family, friends and advisors to determine if retirement village living is right for you.
Leasehold arrangement
A leasehold arrangement is when the village operator owns the units and each resident signs a lease. Leases in retirement villages are commonly for 99 years or more. These leases will be registered on the title deed held by Land Registry Services.
You are considered a 'registered interest holder' if your lease is over 50 years, or a 'non-registered interest holder' if your lease is under 50 years.
Loan or licence arrangement
Loan or licence arrangements are mainly offered by non-profit organisations such as religious or charitable village operators. This arrangement allows you to live in the unit, but you do not own it or have a registered interest in it.
You are considered a 'non-registered interest holder'.
Strata or community schemes
Buying a unit in a strata or community scheme is where you pay the agreed purchase price to the owner of the unit under a sale of land contract. Get more information on buying or living in strata.
This makes you the owner of the unit and you automatically become a member of the owners corporation or community association.
You are considered a 'registered interest holder'.
Company title schemes - shares in the village
A small number of villages operate under company title. The village is owned by a company, and you can buy shares at market value.
The shares give you the right to occupy the unit. You have similar selling rights as strata villages. A Board of Directors, appointed by the shareholders, manages the property and you need to comply with the company’s constitution.
You are considered a 'registered interest holder'.
Rentals
A small number of villages offer units for rent to retired people. Generally, these types of arrangements are the same as private rental agreements.
Entering a retirement village under these arrangements
When considering moving into a retirement village the following information is provided to assist you.
Types of tenancy interest holders
These terms are used to broadly describe different tenancy types in retirement villages.
Registered interest holders
Registered interest holders generally have more responsibility and independent decision making in relation to their property but can face more expenses when leaving the village.
Registered interest holders are:
- strata or community scheme units
- company title (shares) units
- leasehold arrangements where the lease is registered for 50 years or more and where the resident is entitled to at least 50 per cent of the capital gain.
Non-registered interest holders
Non-registered interest holders are:
- loan or licence arrangements
- leasehold arrangements where the lease is less than 50 years
- tenants.
Documents and tools for prospective residents
General enquiry document
Retirement village operators must provide a general inquiry document within 14 days of receiving the first enquiry from (or on behalf of) a prospective resident. This sets out basic information about the village, including:
- village type, facilities and costs, and
- if village rules are in force.
The general enquiry document must contain a copy of the document Moving into a retirement village prepared by the Department.
Asset management plans
Operators must maintain an asset management plan for each village they manage or operate and make the plan available to current and prospective residents.
An asset management plan is a 10-year plan, documenting the costs of purchase, and ongoing maintenance, repairs and replacement of a retirement village’s major items of capital, including shared major items of capital and, who will pay for them.
Learn more about asset management plans.
Retirement village contracts
You usually receive a disclosure statement before you receive a contract when you have found a unit you are interested in.
Unless you are moving in with an existing resident or signing a rental agreement, there must be a written contract between you and the village operator before you move in.
You must be provided with a copy of the contract at least 14 days before signing it.
Operators must use a ‘standard contract’ (with 2 exceptions listed below). Operators can add terms to them, but they must not be inconsistent with the standard contract.
The standard contract
The standard contract contains:
- residents’ rights
- entry costs
- the settling-in period
- recurrent charges
- services and facilities
- alterations and additions
- repairs and maintenance
- sharing of capital gains
- departure fees.
Exceptions
A standard contract form does not have to be used for:
- a separate contract that is for a garage or a storage space
- a sale of land contract where a resident buys a strata or community scheme unit, or an agreement to buy company title shares. These residents must still sign a service contract in the standard form.
Depending on the type of tenancy, the resident will be either a registered interest holder or a non-registered interest holder and this will affect the type of contract they are offered.
The standard contract form
The operator must use the standard contract form.
Download ‘Standard village contract form’
Other documents contracts must include
All contracts must also include:
- the disclosure statement
- the condition report (if one is required)
- the average resident comparison figure
- a list of the village services and facilities, and
- the village rules (if any).
Cooling-off period
All residents have a 7-day cooling-off period after signing the contract.
During this time, either party can end the contract (for any reason) by notifying the other party in writing.
Generally, any money paid under the village contract must be fully refunded.
If a resident moves in during the cooling-off period, the cooling off period ends immediately.
Settling-in period
All residents are entitled to a 90-day settling-in period.
This means if a resident needs to move out (for any reason) within the first 90 days, they only have to pay:
- fair market rent for that period
- the cost of any repairs for damage (this does not include general wear and tear)
- an administration fee of no more than $200, and
- reasonable costs to reimburse the operator for the of making any alterations or adding any fixtures or fittings at your request.
No departure fee can be charged. The amount paid to move into the village will be refunded (depending on the contract).
Costs involved when entering a retirement village
Leasehold agreements costs
Initial costs
- You will pay an 'entry payment' (for example, an ingoing contribution or interest-free loan). The amount you will pay to move into a village under a leasehold arrangement will depend on market conditions, similar to if you were buying the unit.
- At some villages, you can enter into a village contract and pay the ingoing contribution or purchase price at a later date once your home is sold. In this instance you might be asked to pay a deposit.
- There will be legal and conveyancing costs as with any property purchase.
- The operator must register your lease with Land Registry Services. Generally, the resident pays this one-off registration fee.
- You’ll also pay ongoing charges. These cover the running costs of the entire village. Costs might include:
- the upkeep of facilities
- water rates from common areas
- security
- staffing costs
- insurance (including workers compensation and public liability)
- contents insurance for common areas, as well as village building insurance.
Other potential costs
Contract preparation costs
- The operator usually pays to prepare village contracts such as legal and administrative expenses.
- The maximum amount a resident can be asked to pay towards these expenses is $50.
Waiting list fees
- Some retirement villages have a waiting list and can charge a fee for you to add your name to their waiting list. The maximum fee they can charge is $200. If they do charge a fee, they must give you a copy of their written waiting list policy and a receipt.
- The waiting list fee is fully refundable if you decide not to enter the village as a resident. The operator must provide a refund within 14 days after you notify them of your decision in writing.
Holding deposits
- To secure a unit some operators allow people to pay a holding deposit before you sign a village contract. Holding deposit amounts differ depending on the operator.
- A holding deposit can only be charged on a vacant unit or if the existing resident is leaving.
- Holding deposits must be fully refunded if the prospective resident changes their mind and no longer wishes to move into the unit. The operator must refund the holding deposit within 14 days of being notified in writing by the prospective resident.
- Since 1 September 2025, the holding deposit amount is required to be included in the disclosure statement.
Loan licence agreement costs
Initial costs
- You will pay an entry payment. It might be similar to an ingoing contribution or interest-free loan. The amount you will pay to move into a village under a leasehold arrangement will depend on market conditions, similar as if you were buying the unit.
- At some villages you can enter a village contract and pay the ingoing contribution or purchase price at a later date, such as once your home is sold. In this instance you might be asked to pay a deposit.
- You will also pay regular ongoing charges under a loan or licence arrangement. Check your contract carefully and seek legal advice to know what you're agreeing to.
- There will be legal costs as with any property agreement.
- You’ll also pay ongoing charges in a loan or licence arrangement. These cover the running costs of the entire village. Costs might include:
- the upkeep of facilities
- water rates from common areas
- security
- staffing costs
- insurance (including workers compensation and public liability)
- contents insurance for common areas, as well as village building insurance.
Other potential costs
Contract preparation costs
- The operator usually pays to prepare village contracts, such as legal and administrative expenses.
- The maximum amount a resident can be asked to pay towards these expenses is $50.
Waiting list fees
- Some retirement villages have a waiting list and can charge a fee to add your name to the list. The maximum fee they can charge is $200. If they do charge a fee, they must give you a copy of their written waiting list policy and a receipt.
- The waiting list fee is fully refundable if you decide not to be a resident. The operator must provide a refund no later than 14 days after you notify them of your decision in writing.
Holding deposits
- To secure a unit some operators allow people to pay a holding deposit before you sign a village contract. Holding deposit amounts differ depending on the operator.
- A holding deposit can only be charged on a vacant unit or if the existing resident is leaving.
- Holding deposits must be fully refunded if the prospective resident changes their mind and no longer wishes to move into the unit. The operator must refund the holding deposit within 14 days of being notified in writing by the prospective resident.
- Since 1 September 2025, the holding deposit amount is required to be included in the disclosure statement.
Strata or community schemes - costs
Initial costs
- You will pay a purchase price to own the unit under a sale of land contract.
- There will be legal and conveyancing costs as with any property purchase.
- You’ll also pay recurrent charges in a strata or community scheme arrangement. These cover the running costs of the entire village. Costs might include:
- the upkeep of facilities
- water rates from common areas
- security
- staffing costs
- insurance (including workers compensation and public liability)
- contents insurance for common areas, as well as village building insurance.
Other potential costs
Contract preparation
- The operator usually pays to prepare village contracts such as legal and administrative expenses.
- The maximum amount a resident can be asked to pay towards these expenses is $50.
Waiting list fees
- Some retirement villages have a waiting list and can charge a fee for you to add your name. The maximum fee they can charge is $200. If they do charge a fee, they must give you a copy of their written waiting list policy and a receipt.
- The waiting list fee is fully refundable if you decide not to be a resident. The operator must provide a refund no later than 14 days after you notify them of your decision in writing.
Holding deposits
- To secure a unit some operators allow people to pay a holding deposit before you sign a village contract. Holding deposit amounts differ depending on the operator.
- A holding deposit can only be charged on a vacant unit or if the existing resident is leaving.
- Holding deposits must be fully refunded if the prospective resident changes their mind and no longer wishes to move into the unit. The operator must refund the holding deposit within 14 days of being notified in writing by the prospective resident.
- Since 1 September 2025, the holding deposit amount is required to be included in the disclosure statement.
Company title schemes - shares in the village
Initial costs
- You will pay a price to buy shares. These shares are at market value.
- There will be legal costs as with any property agreement.
- You’ll also pay ongoing charges in a loan or licence arrangement. These cover the running costs of the entire village. Costs might include:
- the upkeep of facilities
- water rates from common areas
- security
- staffing costs
- insurance (including workers compensation and public liability)
- contents insurance for common areas, as well as village building insurance.
Other potential costs
Contract preparation
- The operator usually pays to prepare village contracts such as legal and administrative expenses.
- The maximum amount a resident can be asked to pay towards these expenses is $50.
Waiting list fees
- Some retirement villages have a waiting list and can charge a fee for you to add your name. The maximum fee they can charge is $200. If they do charge a fee, they must give you a copy of their written waiting list policy and a receipt.
- The waiting list fee is fully refundable if you decide not to be a resident. The operator must provide a refund no later than 14 days after you notify them of your decision in writing.
Holding deposits
- To secure a unit some operators allow people to pay a holding deposit before you sign a village contract. Holding deposit amounts differ depending on the operator.
- A holding deposit can only be charged on a vacant unit or if the existing resident is leaving.
- Holding deposits must be fully refunded if the prospective resident changes their mind and no longer wishes to move into the unit. The operator must refund the holding deposit within 14 days of being notified in writing by the prospective resident.
- Since 1 September 2025, the holding deposit amount is required to be included in the disclosure statement.
Rentals - costs
You will generally pay a rental bond (maximum 4 weeks’ rent), regular rent payments and water usage (if you have a separate meter). There are no fees and charges to pay when you leave.
Visit renting a place to live for more information on renting.
Retirement village calculator
Comparing financial costs – understanding the average resident comparison figure
The average resident comparison figure (ARCF) adds up the total of the main fees a resident is likely to be charged when living in a particular village. It is designed to help residents understand and compare the financial cost of living in different villages.
Operators must provide this figure to prospective residents in the disclosure statement before they sign any contract.
The ARCF is an indicative figure only and residents should refer to the terms in their contract for actual costs.
Contacts for retirement village information
Find a list of useful contacts for retirement village residents, owners, prospective residents and their families.