Retirement living contracts are long, and the real cost is often in the fine print, from ongoing fees to the deferred management fee you pay when you leave. Before you sign, it pays to understand exactly what you are agreeing to. Fennelly Legal reviews retirement village and residence contracts for Geelong and Bellarine families and explains them in plain English.
What we help with
- Reviewing retirement village contracts and disclosure statements
- Explaining entry costs, ongoing fees and the deferred management fee
- Understanding your rights on leaving or on the sale of the unit
- Advice on loan and licence, leasehold and strata arrangements
- Coordinating with your broader estate planning
How it works
- You send us the contract and disclosure documents.
- We review them and identify the costs, exit terms and anything that needs a closer look.
- We meet with you and explain it plainly, so you can make the decision with your eyes open.
- If you decide to proceed, we help you complete the paperwork correctly.
Frequently asked questions
Why do I need a lawyer for a retirement village contract?
These contracts are unusually long and the exit costs can be significant. A review before signing helps you avoid surprises later.
What is a deferred management fee?
It is a fee, often a percentage per year of residence, deducted when you leave. It is one of the most important figures to understand up front.
Can you review a contract quickly?
Yes. Send it through and we will let you know our timing.
Before you sign, get it reviewed
Call (03) 5243 1959 or book a consultation with Fennelly Legal in Belmont, Geelong.