Juniper Retirement Living Village: How it works and costs

Moving into a Retirement Living Village is an exciting time that often signals a new chapter of your life.

When it comes to finding the right community for you, we encourage you to do your own research and work out what best suits your lifestyle needs.

At Juniper, we have 11 Retirement Living Villages spread across a variety of locations with a range of home choices that range in price.

Retirement Living contracts and terminology

It’s important to understand the agreements and terminology Retirement Living Villages use. The below is an overview of the types of costs and agreements associated with Juniper Retirement Living.

What is ‘Lease for Life’?

When it comes to researching Retirement Living, you’ll often hear about ‘Lease for Life’.

When you sign a ‘Lease for Life’ contract, it’s similar to when you sign up for a rental property.

To secure the property, you pay an ‘ingoing cost’ (like a bond) which gives you exclusive rights to lease it for the rest of your lifetime or until you need to move on (often due to health reasons).

You will also need to pay ongoing service and maintenance costs which are calculated based on the type of property, its location and the services and amenities that are available.

Juniper has a number of affordable lease-for-life rentals available, however, to be eligible to apply, you must meet certain criteria. You can read more information about our rentals here.

What’s the difference between a Capital Share Agreement and a Non-Capital Share Agreement?

When you sign a Capital Share agreement, it is like you are purchasing the property for market price, but you are also paying ongoing fees towards the operating costs of running the village.

But when the time comes to sell the property, you will retain 50 per cent of the profit, or ‘capital gain’, from the sale, with Juniper receiving the remaining 50 per cent.

However, with a Non-Capital Share agreement, when you sell the property, you will only get back the initial “entry contribution” you paid upon acquiring your property, minus Juniper’s exit fee.

What are the costs involved?

When you move into our Retirement Living Villages, there are various costs you will pay before and after you move in.

These costs are presented to you before you sign the contract, and include:

Entry costs

You will pay an entry or ‘in-going’ cost, along with ongoing costs during your lease or contract term.

An entry cost is a one-off payment which varies depending on your contract (for example, lease for life is more like a bond, where as a capital or non-capital share is more like a ‘buy in’) that is made upon signing your lease or contract.

Ongoing costs

The ongoing costs are paid fortnightly to the village to cover maintenance, water, council rates, property insurance and other on-site services.

These costs differ from site to site and depends on the contract you sign.

Exit Fee

An exit fee is payable when you permanently leave your retirement living property. It applies exclusively to properties with capital or non-capital shares.

It helps to cover the costs of shared amenities in the village – think community centres, bowling greens and swimming pools. The fee differs for each location and is only paid when you leave the village.

Juniper’s exit fee is capped at a maximum of 25 per cent of your entry costs after six years of living at your property.