What is a retirement community?
A retirement community or lifestyle community as we like to call it, is a development specifically designed for people over the age of 55. Teman communities provide our residents the freedom to live their own lives in a safe, carefree and friendly environment. We pride ourselves on building communities and teams that bring a sense of belonging and friendship to every resident.
How many Teman communities are there?
We have nine Teman communities across Australia and if you’re ever in the neighbourhood, pop on in and we’d love to show you around.
- Lakeside by Teman in Ravenswood WA
- The Rise by Teman in Ridgewood WA
- Rosedale by Teman in Cooranbong NSW
- The Vines by Teman in Cessnock NSW
- Ridge Estate by Teman in Gillieston Heights NSW
- Bluestone by Teman in Orange NSW
- Highview by Teman in Forest Lake QLD
- Fitzroy by Teman in Rockhampton QLD
- Beacham by Teman in Gladstone QLD
When is the right time to consider moving into a retirement community?
Most of our residents join the community after they or their partner has retired. They are usually looking to get the most out of retirement and choose to live in a Teman community because it gives them the freedom to travel, spend more time with family, or any number of other activities. People also become part of a Teman community to be with like-minded people and to take advantage of the facilities and lifestyle.
Why do people move into retirement villages?
There is no one reason for why people decide to move into a retirement or lifestyle village. Everyone’s decision is personal to them. However, over the years of operating lifestyle communities, there are a few key reasons that keep popping up.
Time to downsize
To feel safe and secure
Want to travel more, simply lock up and leave
Not a burden on family
Free up capital by selling the family home
What is a Deferred Management Fee or DMF?
In most lifestyle communities, you’ll hear about “Departure Fee”, “Exit Fee” or “Deferred Management Fee (DMF)”. They all mean the same thing. The exit fee is a deferred management fee the operator charges and the legislation around this varies from state to state. Put simply, this is your deferred payment to the village operator in exchange for residing in the home, along with the many years’ access to the abundance of lifestyle offerings you’ll enjoy during your stay at the village. A DMF is common in over 55 retirement villages, and the key benefit of this type of purchasing arrangement is it is the most affordable way for you to be able to enjoy living in our lifestyle community.
‘Delayed payment’ means the DMF is accrued during your period of occupancy and is then deducted on the sale of your home. So, it’s an amount you pay when you leave the village. Think of it like a membership but you don’t pay at the beginning, you pay at the end. It is charged on an “enjoy now, pay later” basis. The benefit of paying the DMF when you leave, means it frees up your surplus capital/cash on hand to enjoy during your retirement. There are so many benefits to freeing up your money – buy a new car, spoil yourself with holidays, pay your living expenses, or buy new furniture for your new home. The benefits are endless.
What is a monthly general service fee?
This is a monthly fee paid by each home and covers many items. These items a different per village and state but including items such as building insurances, garden and maintenance costs, 24-hour Medi Alert system, or costs to run the community centre and other village facilities. By paying this general service fee means there are many items you used to pay for that you won’t need to pay for anymore, as they are covered in this fee.
Things to know about this monthly fee;
Teman Communities make zero income from this fee.
Quarterly budget spending’s are issued to the Residents Committee and all residents.
This fee is reviewed annually and may increase with CPI.
What social activities are there in retirement villages?
We have many social activities across all our Teman communities. We pride ourselves on encouraging residents to be social and active. Some communities have Social Committees which are resident volunteers who organise many events including weekly or monthly dinners with entertainment, Melbourne Cup functions, Biggest Morning Tea, Anzac Day, Australia Day BBQs, and so much more. Depending on the village there are bowls groups, woodwork, crafts, darts, choir, coffee club, walking groups, brewer clubs, dancing, aerobics, and the list goes on. If you can think of it, we probably have it. And if we don’t, you can always introduce it. Teman also host Christmas parties, monthly BBQs, open days, and anything else we think will be fun. The beautiful thing is you can get involved with as much or as little as you like.
Can I have pets?
Yes, all Teman communities are pet friendly. Pets are members of the family, and they’ll love their new lifestyle at one of our communities. For the comfort of all residents, we do have a pet policy that you’ll need to sign and agree to.
What does the village manager do?
Our Village Managers ensure the smooth running of the community and are there to help you with any questions or needs you might have. We choose local people who know the community to look after all the day-to-day management and any other ground staff or contractors.