How can I be assured of security of tenure?
Your security of tenure is important to National Lifestyle Villages.
When you purchase a home and move into one of our villages you enter into an agreement called the Residential Site Agreement (RSA) which states the terms, conditions, responsibilities, and obligations on you and us. The RSA provides the right to occupy your site within the Village and use the facilities and infrastructure for the term of the lease which is up to 60 years, depending on the Village of choice.
Simply put, you enjoy the benefits of home ownership without the financial contribution and responsibilities of land ownership. The RSA requires each Lifestyler to pay a weekly rent in return for the right to occupy the land and enjoy the Village facilities, infrastructure and services. An RSA is available from each Village upon request.
What is the term of the lease under my RSA?
The lease starts at 60 years and reduces each time the home that occupies the leased lot is sold. For example, if you sell your home after living in the village for 10 years the next owner will have a term of 50 years left to run. When a home is sold, the RSA comes to an end and a new RSA is entered into by the incoming Lifestyler.
What Act of Parliament governs the lease under my RSA?
National Lifestyle Villages is primarily governed by the Residential Parks (long Stay Tenants) Act 2006. Under this act your RSA is further classified as a Fixed Term Long Stay Agreement.
What happens to my RSA and lease if there is a change in the village owner?
Your RSA is an individual contract binding both you and the village owner for the term of your lease. There is a clause in the RSA which states that if the village is sold to another operator, a condition precedent to the sale, is that the new village owner is bound by the same terms and conditions of your RSA as the current owner This means that there can be changes in ownership of the village, but your RSA (lease) is protected and does not change.
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