Understanding how retirement estate contracts work is an important part of your decision. We’ve set out the key information below in plain English — and we’re always happy to walk you through it in person.
Retirement estate contracts are different from standard residential property contracts. At Tamworth Gardens, residents enter into a Lease arrangement governed by the Retirement Villages Act — legislation specifically designed to protect residents’ rights. Stamp duty does not apply. Full details of the contract, fees, and your rights and obligations are set out in the residence contract and disclosure documents, which are provided before you enter the Estate.
Your entry payment — a one-off contribution.
To move into Tamworth Gardens, you make a one-off entry payment, known as an ingoing contribution. This secures your right to reside in the home you choose within the Estate, in accordance with the terms of your lease contract.
Your monthly service fee.
While living at Tamworth Gardens, residents pay a monthly service fee. This contributes to the ongoing operation of the Estate, including:
Service fees are reviewed annually as part of the Estate budget. Changes in fees are subject to resident approval.
The Deferred Management Fee — only payable when you leave.
When you leave Tamworth Gardens, a Deferred Management Fee (DMF) is payable. You will pay a DMF that allows you to move in and benefit from your choice of lifestyle. This fee is our form of income and pays for our management of the community during the length of your stay with us.
At Tamworth Gardens, the DMF is calculated as a percentage of your original ingoing contribution and is capped at a maximum of 30% after five years of occupation for villa residents.
For Assisted Living Apartment residents, the DMF is calculated as a percentage of your original ingoing contribution and is capped at a maximum of 30% after three years of occupation.
Getting your money back — clearly and promptly.
When you leave, your original ingoing contribution — less the Deferred Management Fee — will be refunded once your villa has been leased to a new resident or no later than 6 months after you leave.
| $500,000 | Ingoing Contribution |
| $500,000 | Ingoing Contribution |
| -$150,000 | Deferred Management Fee capped at 30% after 5 years |
| $350,000 | You receive after new purchaser settles |
| $280,000 | Ingoing Contribution |
| $280,000 | Ingoing Contribution |
| -$84,000 | Deferred Management Fee capped at 30% after 3 years |
| $196,000 | You receive after new purchaser settles |
The monthly fee covers the communal costs of operating the Estate. These costs include Estate staff, Estate and home repairs and maintenance, insurance, communal utility costs including water, security and gardens.
Additional personal services such as meals, cleaning, linen and laundry can be provided at an additional charge.
Assisted Living apartment residents monthly fees include the cost of meals, cleaning and laundry services.
An Estate budget is prepared annually in consultation with residents and the monthly fee is set from this.
In addition to the monthly fee you will need to pay electricity, gas, telephone or internet if you choose to connect.
We insure the Estate property including your villa or assisted living apartment. We do not provide contents insurance and recommend that you insure your personal contents.
The maintenance fee covers the communal costs of running the estate — including staff, repairs and maintenance, insurance, water, and gardens. It also covers home maintenance and the emergency call system service. Fees are reviewed annually as part of the estate budget, prepared in consultation with residents. Additional personal services such as meals, cleaning and laundry are available at extra charge. For Assisted Living Apartment residents, these services are included in the maintenance fee.
In addition to the monthly maintenance fee, residents are responsible for electricity, gas and telephone and internet costs.
Yes — we insure the estate property, including your villa or apartment. Contents insurance is not included, and we recommend arranging your own policy to cover personal belongings.
The estate operates two funds: a Capital Replacement Fund and a Long-Term Maintenance Fund. The Capital Replacement Fund covers replacing capital items at the end of their useful life. The Long-Term Maintenance Fund covers major repair costs.
Residents at Tamworth Gardens enter into a Lease arrangement governed by the Retirement Villages Act — legislation specifically designed to protect the rights of retirement village residents. Full details are provided in your lease contract and disclosure documents before you move in. Stamp duty does not apply.
The Deferred Management Fee (DMF) is the amount retained from the re-sale of your home when you leave the estate. It’s a common model across retirement villages in Australia and is the operators source of income. While you’re living at Tamworth Gardens, you benefit from a full range of community facilities and have your home maintained for you.
Retirement villages in New South Wales are regulated under the Retirement Villages Act, which provides protections around your Lease agreement, resident consultation processes and resale entitlements. The Act also sets resident obligations. For independent advice, contact: NSW Office of Fair Trading 13 32 20 · Council on the Ageing NSW (COTA) 1800 449 102.
The surviving partner can remain in the home, generally for as long as they are able to look after themselves and meet the occupancy requirements under NSW law and the estate contract. For better protection, we recommend the residence contract is held in joint names from the outset.
We’re happy to talk you through everything in plain English — no pressure, no jargon.
0488 500 624