Residential Parks
Residential parks generally offer residents a "ground lease" only which does not include a dwelling - the new resident is expected to purchase, build or relocate a dwelling. The park may also offer to rent a site and a mobile/ prefabricated/ transportable home or caravan which already occupies the site or will be relocated to it. Most leases or licenses are in place for relatively short periods and may, or may not, be noted on the land's certificate of title.
Legal
The ground lease or license will entitle the resident to use the common areas and facilities of the village. Note that many Residential Parks are not limited to retirees, have a broad spectrum of inhabitants and fall under different consumer legislation depending on the state or territory and the particular circumstances. Your access to consumer protection may also depend on whether the dwelling is your permanent or temporary residence.
Financial: Entry and Exit
The entry price into a Residential Village is typically the price of the portable home and this may include the costs of preparing the site - laying a concrete slab and connecting utilities. Significant costs can be involved in moving any mobile structure and for that reason a longer term lease, with some constraints over the increase in service costs, should be the objective. It may be possible to transfer or assign a lease or license to a new resident but that is going to depend on the specific legal arrangements and the applicable legislation.
As with other residential leases, residents will likely need to pay a rental bond comprising one or two months rent.
Ongoing Costs
Apart from a rental payment, usually weekly or monthly, residents will typically need to pay a site fee to pay for access to common facilities, separately metered utilities and for any additional services agreed with the park operator.
If you would like to arrange professional advice in relation to the above matters, please complete the Inquiry form below providing details and you will be contacted accordingly. You will receive a fee quotation in advance of any advice or services being provided.