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Frequently Asked Questions

Category FAQ - All

Is there an age qualification for Life Rights?
Yes, you have to be over the age of 50 to purchase or reside in a Life Rights scheme.

Is transfer duty payable on the purchase price?
No, as you are purchasing a Life Right, you are exempt from paying VAT and transfer duty.

Are there conveyancing or transfer fees involved?
Yes, our appointed attorneys charge a nominal conveyancing fee of R2 800 to register your Life Right.

Will my original purchase price be refunded?
Yes, the regrant formula provides for the refund of the original purchase price, plus 50% of the profit after estate agent commission (5%), contribution to the levy stabilisation fund (5%) and any refurbishment costs have been deducted.

What costs are included in the monthly levy?
The monthly levy includes your property rates, insurance, 24-hour security, management and staff costs, property and garden maintenance fees, shuttle transport service, refuse, water and electricity usage in the common areas.

What costs are excluded from the monthly levy?
Electricity and water consumption, fibre internet access, telephone, DSTv, housekeeping, laundry, car washes, and meals/drinks at the dining room or pub are not included in the levy.

Will the apartment or cottage be refurbished?
Yes, all apartments and cottages are deep cleaned, interior walls are repainted, carpets are cleaned or replaced, and any necessary repairs are made to cupboard doors and drawers before you take occupation.

Are pets allowed?
With management committee approval, one small pet (that will not be replaced) is allowed in the garden apartments and freestanding cottages.

Author: Rob Roy Retirement Village

Submitted 26 Jul 19 / Views 386
 
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