You can have first right of response – should another purchaser also wish to buy – on a property you are interested in at Bougainvillea, The Bay Club Resort, with a $1,000 holding deposit. This is fully refundable if for any reason you decide not to go ahead with the purchase.
If you do decide to purchase, you will first need to sign a Disclosure Statement. A contract will be given to you via your solicitor and you will be given the time needed to review it thoroughly. It is highly recommend you consult a solicitor. The contract will explain in further detail what ‘tenure’ you will have for the property and what this means to you. At Bougainvillea all of our apartments are Strata Titled.
Ongoing & Outgoing Fees
In addition to the purchase price, there is an on-going service fee or recurrent charge to cover the day-to-day operating costs and the upkeep of the village. These levies are issued quarterly. No operator profit is made from this levy. The entry fee is the purchase price of the property.
As Bougainvillea is a Strata Titled ‘over 55’ community, there is also a Sinking Fund Strata Levy. This levy is for the care and upkeep of the village and all of its common property assets. This levy is issued by the village Strata Manager and is also issued quarterly. However, at Bougainvillea the Sinking fund is majority funded by the operator via a % of the Departure Fee.
When you sell your property, you will need to pay a Departure Fee, previously known as a “deferred management fee” or ‘exit fee’.
Village Management Structure
The operator, Village Lifestyles, employs a Village Manager who is onsite during business hours and is responsible for the day-to-day administration of the village. The village manager is your first point of contact if you have any questions or concerns and they will always try to address them fairly and promptly.
We also encourage all of our residents to have a say in how their village is run by speaking with the village manager about any ideas or concerns, and participating in the residents committee meetings.
The operator oversees all aspects of the running of the village and ensuring that it is running professionally at all times.