Macquarie University launches ‘first of its kind’ retirement village contract calculator

Published on

The free calculator, available at www.rvcalculator.org, is designed to take the three main village fees – entry fee, ongoing fee and exit fee – and calculate a simple ‘equivalent monthly rent’.

The comparison tool was developed by Dr Tim Kyng – who has cropped up as a commentator in the recent Fairfax coverage of retirement villages.

He uses the example of two retirement villages in Sydney with an entry fee of $775,000 (village A) and $750,000 (village B). While the village with the lower entry fee and lower monthly fee looks cheaper, the tool calculates it will actually cost an extra $1,100 a month over seven years.

It won’t be the last village fee calculator either. As we reported here, KPMG is developing a similar tool for NSW Fair Trading that is expected to launch later this year.

Share.

About Author

The Weekly SOURCE is the leading media for retirement living and aged care businesses, delivering sector-specific news through four mastheads. Operating as part of The DCM Group, The Weekly SOURCE also provides a directory of proven sector specialists and an insights exchange.