Frequently Asked Questions

WHAT IS A LAND LEASE COMMUNITY?

Golden Downs is a land lease community designed for people over 50. It means that you own your home and lease the land which is covered by a simple weekly site fee. The benefits of owning a home in a land lease community is that it gives you access to all the community recreation and leisure facilities whilst allowing you to claim Commonwealth Government Rent Assistance (if eligible) to cover a significant portion of the weekly site fee. For more information, please visit humanservices.gov.au/rentassistance.

WHAT ARE THE ONGOING COSTS?

When you move into your home at Golden Downs you pay a weekly site fee which covers the lease of the land. Weekly site fee payments are scheduled fortnightly and completed by direct debit. Annually the weekly site fee is adjusted to CPI and government charges with a market review completed every three years. You are responsible for normal service charges of your homes such as metered electricity, water, phone, internet, house and contents insurance. If you could please share with Golden Downs Community Management a copy of your insurance certificate each year it would be appreciated.

WHO MAINTAINS YOUR HOME?

Your home is your asset which means you are therefore responsible for annual pest inspections and any pest control requirements. Golden Downs provides homeowners with equipment to maintain their lawn and gardens which are the responsibility of the home owner.

DO YOU OWN THE LAND?

A land lease community means you lease the land instead of ownership. This model allows you to avoid paying stamp duty and the ability to claim Commonwealth Government Rent Assistance (if eligible) to cover a significant portion of the weekly site fee. (Please contact Centrelink directly for further information). Your lease of the land is secure at Golden Downs and is governed by the Manufactured Homes (Residential Parks) Act 2003. This legislation limits a community owners ability to terminate a site agreement and protects homeowners if a community is sold with the new owner required to continue your lease.

ARE PETS ALLOWED?

Unfortunately we do not allow pets as we are surrounded by native birds and wildlife.

DO I RECEIVE A TITLE FOR MY HOME?

Because you do not own the land you do not receive a title. You do receive a purchase contract which articulates your ownership of your home.

CAN I RENT OUT MY HOME?

Golden Downs Lifestyle Community is owner occupied only.

WHAT IS THE PROCESS TO SELL MY HOME IN THE FUTURE?

You have the freedom to sell your home at any time, simply notify the Community Manager in writing. If you would like to understand the potential sales price of your home please speak to the Community Manager. They have a wealth of experience in sales and can provide you with a guide on comparable sales in the community and they can also outline ways we can promote your home to our buyer database.

 

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