Question 1

Is there regular financial reporting to residents?

Accepted Answer

Yes. A summary of the village company's audited annual financial statements is presented at the Annual General Meeting of the village. The village company's Annual Report, including audited financial statements and the interim financial statements (unaudited), are available to residents on request.

Question 2

Who is responsible for the cost of council rates, water rates, etc?

Accepted Answer

When you live at an established Metlifecare village you pay a village fee to cover costs, such as council rates, water rates, building insurance, maintenance, the upkeep of the community facilities, gardening, salaries of the staff and village operations. This simplifies your expenses into one easy to manage village fee, leaving you free to select your own phone, personal contents insurance and electricity providers according to your preference.

Question 3

Who ensures that residents get what they pay for?

Accepted Answer

When you move into a Metlifecare village you will have peace of mind knowing an independent Statutory Supervisor has been appointed to each village. The role of the Statutory Supervisor is to monitor the financial position of the village to ensure that Metlifecare meets its obligations to you and there is a Deed of Supervision in place which governs the relationship between the Statutory Supervisor and Metlifecare. The Statutory Supervisor also holds a first ranking security over the village land. The Residents' Committee also meets regularly with the manager and can raise any issues on behalf of residents.

Question 4

What happens if I decide to leave the village?

Accepted Answer

If you do choose to leave, simply write to the Village Manager expressing your wish to terminate your Occupation Right Agreement (ORA). One month after receiving the letter, your ORA will be terminated and Metlifecare will endeavour to re-license your unit. Following the re-licensing you will be refunded the original purchase price less the accrued management fee.

Question 5

How does the fee structure work?

Accepted Answer

The fee structure consists of three main components: 1) Capital Sum - the price paid for the Occupation Right Agreement (ORA) to secure your right to occupy the unit, 2) Management Fee (DMF) - capped at 30% of the original Capital Sum, accrued at 10% per year for three years, covering refurbishment, re-licensing, legal fees, and maintenance, 3) Village Fee - covers council rates, water rates, building insurance, facility upkeep, gardening, and staff salaries. The Village Fee is reviewed annually and won't increase more than the CPI. Residents are responsible for their own utilities, internet, telecommunications, and contents insurance.

Question 6

Can my friends and family stay with me?

Accepted Answer

Yes of course, this is your home. When you move into a Metlifecare village we understand it is important to maintain your family and social ties. In independent living units, family members or friends are able to stay for a combined total of 90 days per year. Longer stays require the agreement of the Village Manager.

Question 7

Can I transfer to another Metlifecare village?

Accepted Answer

Yes you can. We won't charge you transfer fees if you transfer from an independent living unit to a serviced apartment. Otherwise, we'll discuss the transfer costs involved, and agree these with you.

Question 8

What happens if my unit doesn't re-license straight away?

Accepted Answer

Your village fees will cease as soon as Metlifecare is provided with vacant possession of your unit. If it takes longer than nine months to re-license, we will pay you interest on the outstanding capital. Plus you can apply for an early repayment of up to $20,000 of the capital sum when your unit is vacated.

Question 9

What if I want to go on holiday?

Accepted Answer

Lock up and leave with peace of mind and the freedom to come and go as you please. We will maintain the grounds, clear your letterbox and manage security while you're away.

Question 10

Who pays for the refurbishment of the village when I leave?

Accepted Answer

On termination of your Occupation Right Agreement (ORA), Metlifecare is responsible for all refurbishment costs of your unit. You may be responsible for any damage beyond fair wear and tear and any agreed reinstatement costs.

Question 11

What happens if I get sick, or have an accident?

Accepted Answer

If you have an accident and need immediate attention, all our villages (except at Kapiti Village) have strategically placed emergency call buttons in your home which you simply press and your call will be responded to. Where an illness is of a temporary nature, if you're not already receiving additional services, meals and other helpful services may be arranged to assist – depending on the help you need. We aim to help you recover quickly and comfortably which can be reassuring to you and your family. This service is provided on a 'user pays' basis.

Question 12

What if I want to redecorate my home?

Accepted Answer

Have a chat with your Village Manager. In most cases, your home can be redecorated to your tastes in consultation with the Village Manager, at your own cost.

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