I thought Holly Lea was just for women, is this still the case?
No. Holly Lea has been a home for women for most of the last century; however the new building has been built to cater for a new era and direction. Holly Lea is now a retirement home for men, women and couples.
Is it more expensive to live at Holly Lea than at other retirement villages?
The initial purchase price of your unit is higher than some other villages reflecting a higher quality in the building and amenities and the convenience of the Fendalton location. Ongoing living costs are very much the same as other villages. A full list of costs is available on request.
What do the care packages mean?
You will be assessed by a Registered Nurse at Holly Lea using a standard assessment tool to determine the level of care you need. In fact you might not need anything at all in the beginning. You'll enjoy your own apartment and freedom, free to do your own cooking and cleaning, coming and going whenever you want. As the years pass however, you might need help with cleaning, or find you're too busy to arrange your own meals, or you might need help in the bathroom or with dressing. That's when a care package appropriate to your individual needs is established in consultation with you.
Can I have visitors to stay?
Friends and family are welcome at any time in your new home, though the written approval of Holly Lea is required for stays of longer than two consecutive weeks.
Is the ownership structure at Holly Lea the same as other retirement villages?
Yes. Most retirement villages offer an occupancy right under the Retirement Villages Act 2003. Holly Lea is no different and is a registered retirement village with its documents approved by the Registrar of Retirement Villages
How much money will I get back when I leave?
The only income retirement villages have is the write-down on the occupancy right deposit (purchase price). All villages have this. Holly Lea writes down occupancy right deposits at the rate of 5% per annum for a maximum of 5 years. Some other villages have greater write-downs than Holly Lea, meaning you get a smaller proportion of your original purchase price back, so we believe our costs are competitive.
What will I (or my estate) need to pay when I leave?
You (or your estate) will be held responsible to pay weekly outgoings for three months after which time, if your unit has not already sold, outgoings will halve and then cease at 6 months after vacation. Note most villages charge 100% of outgoings for 6 months and then 50% no matter how long the unit takes to sell. Holly Lea does not charge for refurbishment of the unit after vacation and does not charge selling fees; most retirement villages pass these significant charges onto the vacating resident or estate.
How are my interests protected?
Perpetual Trust is the appointed Statutory Supervisor for Holly Lea and their sole purpose is to protect the residents' rights. They have very wide powers.
Will the money I pay for my apartment be secured?
The Statutory Supervisor has a first charge over the village ahead of any lenders for the sole purpose of protecting the residents and their capital.
Who owns Holly Lea and how is the McLean Institute involved?
The McLean Institute is a charitable trust that has passed its first century of operation. Holly Lea Village Limited (Holly Lea) is 100% owned and guaranteed by The McLean Institute. The McLean Institute has in the past carried out all of its charity work through Holly Lea. In the future this will be elsewhere with Holly Lea being a subsidiary operation to its wider work.
What happens if I change my mind about living here?
We're sure you'll love it at Holly Lea, but you can cancel the Occupation Right Agreement (ORA) without having to give any reason within the first 15 working days of signing the ORA.
How can I exit the Occupancy Right Agreement (ORA) if my circumstances change?
You are entitled to terminate your ORA for any reason and at any time, after giving 20 working days notice. Following this, normal vacation procedures take place with the unit being marketed and sold.
What happens if I have a house to sell before I can pay for my new apartment?
Holly Lea will agree a time frame with you so you won't feel rushed; we want you to be relaxed and happy about the move.
Do I have to use a particular real estate company to sell my house?
No, it's your choice.
Am I allowed to arrange my apartment how I want it?
Generally yes, though redecoration and structural changes require the consent of Holly Lea.
Can my pets come too?
No animal pets, but goldfish are fine.
All information on this page is for guidance only, precise wording on all topics will be contained in the ORA contract