There’s a lot to love about moving to a retirement village, and to retire with confidence, you need financial certainty. At Ryman, we’re transparent about our costs, offering options to fit your ideal retirement lifestyle. No matter which option you choose, you’ll know exactly what you’re paying and what you’ll receive in return.

• The entry payment (the price of your unit), which is determined by your Residence and Management Contract (RMC) 
• The Deferred Management Fee (DMF)
• The weekly fee

Below are some explanations of how the fees work and some questions to ask if you are considering buying into a retirement village.

Most retirement villages will use a right-to-occupy model. This means the price of your unit (your entry payment) gives you the right to occupy your villa or apartment for life, with access to community amenities. The entry payment is a one-off fee, paid before you move in.

A Deferred Management Fee (DMF) is your contribution to the continued maintenance and management of the village, including your unit and village amenities. Often referred to as a departure fee or exit fee, the DMF is an amount that becomes payable when you permanently vacate your unit. The DMF is calculated as a percentage of the entry payment.  

At Ryman villages we offer a choice in DMF of either 30% or 25% with the latter option having a higher entry price.  

Your entry payment minus the DMF will be paid back to you when a new resident moves into your unit or within 6 months of you leaving, whichever comes first. This means you can be certain this money will be returned to you or your loved ones as soon as possible.  

Sometimes retirement village providers will charge additional costs such as a second DMF if you move from independent living to assisted living in a serviced apartment.

At Ryman, if you later need to move from independent living to a serviced apartment in the village, you won’t have to pay an additional DMF or an additional entry payment. Plus, there are no transfer fees.  

When you permanently leave a village, many village providers will charge additional fees to refurbish your home or to cover the sales process. At Ryman, that’s all covered by the DMF, so there won’t be any additional costs.  

In addition to this, when you leave a retirement village, some providers will keep charging you the weekly fee (and continue collecting your DMF) until your home is sold.   

At Ryman, the DMF and the weekly fee both stop as soon as you move out.

• Ask questions about what your DMF includes.
• Ask what options are available for your DMF.
• Read the fine print – make sure there are no hidden costs.
• Ask whether the DMF is capped, or whether you’ll need to pay a second DMF if you need to move from independent living to assisted living in a serviced apartment.
• Ask if your DMF and weekly fee stop when you move out.
• Ask if there are extra costs around refurbishing or selling your home when you permanently leave the village.

The weekly fee covers everything from rates and garden maintenance to village amenities, such as a pool and bowling green, as well as a range of village-run activities. It also pays for exterior maintenance on your home, including cleaning your windows inside and out. So, if your gutters back up or a ball goes through your window, you can sit back and let someone else take care of it.  

At Ryman, you can choose between fixed or indexed weekly fees which are set at the time of signing your agreement. Indexed weekly fees are linked to the annual increase in the Consumer Price Index.  

Indexed weekly fees are variable and will increase once a year in line with the index they are set to.

If you are comparing weekly fees from different retirement villages, it’s important to know exactly what you are paying and what you’ll receive in return.

• Compare the weekly fee between your shortlist of villages.
• Read the fine print – make sure there are no hidden costs.
• Check whether the weekly fee is fixed or if it will increase, and by how much.
• Check what the weekly fee actually covers.
• Ask whether the weekly fee will stop on the day you permanently vacate your apartment or villa.

Thinking about retirement village living? Find a retirement village near you.