Protecting your biggest asset
Audley retirement village is that, of course, you continue to own your home, retaining what is probably your most valuable asset, so that you can pass it on to your children, one day if you wish.
Audley retirement properties are sold on a leasehold basis, which means you are able to enjoy the benefits of property ownership without many of the associated burdens.
Two types of payment to make life hassle-free
Our fee charges ensure that all the costs of running an Audley village are met. This includes ongoing costs such as maintaining the exterior of your home, your building insurance, your Audley Club membership, providing discreet but effective security, maintaining the village and the village grounds, as well as fees associated with managing and operating Audley Court Ltd. Additionally at some point in the future, expensive structural repairs or improvements will become necessary, for instance, resurfacing roadways and pathways or reroofing properties.
To relieve you of these concerns, we need to collect 2 types of fee to ensure we have sufficient funds to cover all the ongoing costs of running the village and the expense of any major works required.
Our monthly service charge
Every month you will receive a single invoice. This monthly fee varies a little from one Audley Retirement village to another, depending on the location. One important thing to note: Audley owners have our firm undertaking that their monthly management fee will increase only once a year in March based upon the previous December Retail Price Index % figure supplied by the ONS or in line with the Annual Earnings Index, whichever is the higher. So you can be secure in the knowledge that there are no large and unexpected price rises lying in wait for you.
There is regular dialogue with owners about the services offered as part of the monthly management charge. We give owners at least a month’s notice of the RPI percentage increase for the following year. If we are unable to provide a service covered by the charge we would make alternative arrangements.
Our deferred management charge
As well as the monthly management fee, a deferred management charge is payable from the sale of your home, or change of occupier. This, together with the monthly management fee, ensures that everyone who lives in an Audley village can do so knowing there will always be sufficient funds to carry out any works, maintain the continued high standard of the village and ensure that each property has the ability to increase its value within the housing market.
We consider that the deferred management charge is the most cost effective and efficient method to cover expenditure and, over a long term, this may work out at lower cumulative costs than some people may pay for upkeep and major works on their own family home.How much will you pay? You don’t pay anything until you sell or let your property; you contribute 1% of the greater of the achieved market price or agreed valuation of the property per year of occupation before receiving the proceeds.
All these services are covered by your fees
- Buildings insurance – for your home
- External upkeep of your home
- Professional garden and ground maintenance
- Regular clearing of roadways and footpaths
- Servicing of lifts
- Servicing of CCTV, emergency call system, intruder and smoke alarms
- Night Porter and security service
- Firstline homecarers and call line service 24 hours a day, seven days a week
- Nightly removal of your rubbish
- External window cleaning
- Preferential rates for food and beverages in the restaurant/bar bistro
- Audley Club membership
- Preferential rates for food and beverages in the restaurant, bar/bistro
- Full servicing of the guest suite – bookable at an advantageous price
- Free inter-property telephone calls
- Onsite Village Manager and Head of Audley Care with supporting teams
- Minibus service
- Favourable utility costs
- Social events and activities organised by the Village Manager
- Fees associated with managing and operating Audley Court Ltd
We also offer a comprehensive range of additional goods and services at each Audley village should you wish to use them. These vary from village to village and include things such as restaurant and bar, drinks, hairdressing, shopping, laundry and housekeeping. For your convenience, the cost of these additional services is added to your monthly invoice.
What's not included in your fee
Because the house you live in at an Audley retirement village is owned by you, you are responsible for the water and energy bills associated with your home as well as the council tax, television licence and home contents insurance. Services and facilities offered and mentioned are as of 2016 and may change in the future. Please refer to your lease or contact us for more information.
When you come to sell your home, our staff will ensure every effort is made to complete the sale as quickly and as efficiently as possible. On all resales Audley will charge a sale administration fee of 1% of the greater of the achieved market price or agreed valuation. This covers the costs that Audley incurs in administering sales and explaining the Audley retirement living concept to prospective buyers.
How do you sell?
There are two options to be able to sell your property.
- You can instruct a traditional estate agent. Any fees charged by the agent would be negotiated by yourself or your representative.
- Alternatively you can instruct us to market your property to our database and waiting lists. This way, you know that the people being targeted are already aware of Audley and the retirement living concept. Our sales agency fee will be 2% of the sales value achieved.
The services we provide for the additional sales agency fee will include:
- Receiving and validating enquiries from prospective purchasers
- Arranging appointments to view
- Conduct comprehensive viewings of your property as well as a tour of our facilities
- Detailed explanation of our services and offerings including the club facilities and associated activities
- Full explanation of the homecare care services available
- Assessments of prospective purchasers health & well-being
- Agreement and provision of appropriate homecare packages – where applicable
- Full explanation of the terms of the lease
- Instruction to our solicitors to answer purchasers solicitors questions
- Progression of the sales from reservation to completion
- Assistance from our staff with regards to packing, removals, utility transfers etc.
At any point during the sale process, should you wish to switch from us to an agent, that is entirely your prerogative and choice which we will respect. Please note that the sales administration fee will remain payable in these circumstances, as this covers the costs that we incur in all resales.