Tamahere Eventide Retirement Village

4% per annum of the agreement fee, for the first 5 years of occupancy, capping at a maximum of 20%. (Source: Disclosure Statement §22.1(a), dated 18 Jan 2019.) Note: the 4%/yr is calculated against the AGREEMENT FEE PAID BY THE INCOMING resident on resale, not the amount the outgoing resident originally paid.

Accrues daily from the commencement date of the resident's occupation right agreement (ORA), for the first 5 years only (4%/year, pro-rated daily for a part year); fixed at 20% thereafter. The percentage rate is set in the ORA and "is not reviewable during the term of the occupation right agreement" (§22.3). Accrual pauses if the unit is damaged/destroyed through no fault of the resident and the Operator does not repair it (§15.8).

Not fixed. Published weekly outgoings (as of the 18 Jan 2019 Disclosure Statement, GST-inclusive): $96.69 for a two-bedroom unit, $103.62 for a three-bedroom unit. The Operator reviews these charges annually at the end of each financial year (§18.9), and the maintenance forecast (Schedule D) builds in a 3% annual inflation adjustment, so the fee is reviewable/variable, not fixed for the term of residence.

The resident keeps the capital gain. Disclosure Statement §22.5: "Apart from the deductions listed in clause 22.1, the resident receives the benefit of any increase in the value of the unit." If the unit has decreased in value, the standard deductions (incl. the management/exit fee) are still taken and the resident bears the full loss. (Note: the operator's own marketing on eldernet describes this as "Sharing capital gains with minimal monthly fees," but the actual disclosure statement text shows the resident, not the operator, receives the gain, the "sharing" language appears to be marketing framing, not a contractual gain-split with the operator.)

No fixed date. Payment to the outgoing resident is made only once the Operator receives an agreement fee from a NEW incoming resident for the unit (§22.1, §21.3), "this may take time and may be affected by the property market." If a new ORA has not been signed within 9 months of termination, the resident gains the right to issue a disputes notice under the Act (§21.2). Outgoings payable by the departed resident reduce by 50% after the later of 6 months from termination or the date they vacate (§23.6).

Entry deposit: max 10% of the unit's market price, held independently by the Statutory Supervisor. Deductions taken from the outgoing resident's payout alongside the management/exit fee (§22.1): Operator's sales administration fee $2,300 (+GST where noted), Operator's legal fee $885 on surrender of ORA, half of the unit valuation fee, any real estate commission and marketing/advertising costs, outstanding outgoings, cleaning costs, refurbishment costs beyond fair wear and tear, and replacement cost of an unreturned security pendant. On entry, an incoming resident separately pays Operator's legal fee $970 and Statutory Supervisor fees ($287.50 ORA issue, $115 deposit refund, $172.50 ORA termination, $115 ORA cancellation), all GST-inclusive at 15% as published in 2019. Entry prices shown on the current eldernet listing: 1-bedroom apartments $405,000–$410,000; 2-bedroom villas $690,000; 3-bedroom villa $810,000.