PREPURCHASE ADVISORY
Know your rights before you sign the dotted line.
If you are thinking of heading into a Residential Land Lease Community, you should know what that decision entails. You may have met the loveliest salesperson that is selling a home, and of course you are excited about the prospect of your new dwelling and the lifestyle associated with it.
That is unfortunately where most people stop the decision-making process and don’t get advice about the residential site agreement and the mandatory disclosure statement. They hand over the deposit and think it is all happy sailing, until they move in and find out they are subject to rules and yearly site fee increases.
What is a RSA and Disclosure Statement?
An RSA is a lease and is a legal document governing the relationship between you the homeowner and the community operator who owns the land. Leases vary in their complexity, size, and terms. This is the legal agreement signed between you, the homeowner, and the community operator. Site agreements govern all rights and obligations of both operator and resident; they must include the detailed terms and conditions applying to fees and charges, complaints processes, and the grounds on which a site agreement can be terminated.
The Residential (Land Lease) Communities Act 2013 requires a community operator to supply any prospective homeowner with a Disclosure Statement that clearly sets out the terms and conditions
of living in that specific community. This document should include the following:
• Community Details – age, stage of completion, if it is residential
• only.
• Operator Details – number of years in operation, who owns the
• community, membership of industry associations, evidence that it is
• financially solvent.
• Site Fees – charges and terms or regular payment
• Utilities – if gas, water and electricity are in place at the site, details
• of charges and how and who they are paid to.
• Services and Facilities offered by the community.
• Safety and Security measures
• Legislation Compliance – whether the community complies with all
• relevant legislation.
• Dispute Resolution – processes and proceedings
• Residents Committee – if a residents committee is in place to liaise
• and advocate with the community operator on behalf of residents.
• Specific Financial Arrangements – those associated with the
• community such as additional levies or voluntary sharing of capital
• gains.
It is strongly recommended that you carefully review the conditions set out in the site agreement to ensure that you are clear on all site fees and charges and that you understand the role of the community operator, as well as the responsibilities that you have as a homeowner.
It is important to have someone with experience in land lease living communities to review the residential site agreement and disclosure documents and provide sound advice for you and, if required, request changes to the legal documents on your behalf. ARPRA has 40 years’ experience in representing homeowners and checking the terms of residential site agreements and disclosure statements.
Know your rights before you sign the dotted line.
If you are thinking of heading into a Residential Land Lease Community, you should know what that decision entails. You may have met the loveliest salesperson that is selling a home, and of course you are excited about the prospect of your new dwelling and the lifestyle associated with it.
That is unfortunately where most people stop the decision-making process and don’t get advice about the residential site agreement and the mandatory disclosure statement. They hand over the deposit and think it is all happy sailing, until they move in and find out they are subject to rules and yearly site fee increases.
What is a RSA and Disclosure Statement?
An RSA is a lease and is a legal document governing the relationship between you the homeowner and the community operator who owns the land. Leases vary in their complexity, size, and terms. This is the legal agreement signed between you, the homeowner, and the community operator. Site agreements govern all rights and obligations of both operator and resident; they must include the detailed terms and conditions applying to fees and charges, complaints processes, and the grounds on which a site agreement can be terminated.
The Residential (Land Lease) Communities Act 2013 requires a community operator to supply any prospective homeowner with a Disclosure Statement that clearly sets out the terms and conditions
of living in that specific community. This document should include the following:
• Community Details – age, stage of completion, if it is residential
• only.
• Operator Details – number of years in operation, who owns the
• community, membership of industry associations, evidence that it is
• financially solvent.
• Site Fees – charges and terms or regular payment
• Utilities – if gas, water and electricity are in place at the site, details
• of charges and how and who they are paid to.
• Services and Facilities offered by the community.
• Safety and Security measures
• Legislation Compliance – whether the community complies with all
• relevant legislation.
• Dispute Resolution – processes and proceedings
• Residents Committee – if a residents committee is in place to liaise
• and advocate with the community operator on behalf of residents.
• Specific Financial Arrangements – those associated with the
• community such as additional levies or voluntary sharing of capital
• gains.
It is strongly recommended that you carefully review the conditions set out in the site agreement to ensure that you are clear on all site fees and charges and that you understand the role of the community operator, as well as the responsibilities that you have as a homeowner.
It is important to have someone with experience in land lease living communities to review the residential site agreement and disclosure documents and provide sound advice for you and, if required, request changes to the legal documents on your behalf. ARPRA has 40 years’ experience in representing homeowners and checking the terms of residential site agreements and disclosure statements.
PREPURCHASE ADVISORY
What does it cost?
We understand from our extensive contact with homeowners that sometimes they don’t feel they
need to get advice or pay a solicitor. On average, it will cost you more than $500 with a solicitor to review your residential site agreement, and even then, not many solicitors practise in this space.
We offer to review your site agreement and disclosure document, provide advice about the documents, and if required, we can negotiate any terms on your behalf.
The basic advice service cost just $195 and also includes membership to ARPRA, which gives you
access to fact sheets, advice, member discounts and more. If you need negotiating on terms, this service is charged at $295 and also includes all the services in the basic package along with specific negotiating of terms with the community operator on your behalf.
Get in Contact
Call us on 1300 798 399 and choose Option 1. Speak with our friendly member service team, and they will take some details from you so that a member of our advice team makes contact and discusses your needs. Once we have all required documentation, we can usually get advice back to you within 7 days.
What does it cost?
We understand from our extensive contact with homeowners that sometimes they don’t feel they
need to get advice or pay a solicitor. On average, it will cost you more than $500 with a solicitor to review your residential site agreement, and even then, not many solicitors practise in this space.
We offer to review your site agreement and disclosure document, provide advice about the documents, and if required, we can negotiate any terms on your behalf.
The basic advice service cost just $195 and also includes membership to ARPRA, which gives you
access to fact sheets, advice, member discounts and more. If you need negotiating on terms, this service is charged at $295 and also includes all the services in the basic package along with specific negotiating of terms with the community operator on your behalf.
Get in Contact
Call us on 1300 798 399 and choose Option 1. Speak with our friendly member service team, and they will take some details from you so that a member of our advice team makes contact and discusses your needs. Once we have all required documentation, we can usually get advice back to you within 7 days.
Representing Residential Land Lease Communities
Need help? Need answers?
Call 1300 798 399
9 a.m. to 4 p.m. | Monday to Friday
Calls made from a mobile may be charged at a timed rate.
Call 1300 798 399
9 a.m. to 4 p.m. | Monday to Friday
Calls made from a mobile may be charged at a timed rate.
