Toorak Place

Toorak Place is not what you think of as a typical "retirement village". Toorak Place is designed with the changing needs and aspirations of retirees in mind, - people like you who want to continue to lead an independent and private life but who choose to have the security of 24 hour services.

At Toorak Place there is no in-house dining, but a selection of local restaurants, cafes and dining experiences which will inspire and delight, right on our door step. There is no isolated living but rather access to the best of Toorak's retail and professional services at your door. Toorak Place incorporates dining, designer fashion and beauty, lifestyle and medical services, including a general practitioner who will even make house calls to your apartment if you are unwell.

Ownership is by way of Strata Title also known as Freehold Title, affording you the protection of knowing your investment is secure for years to come.

Toorak Place management is based on-site, and is accessible 24 hours 7 days a week. The main responsibilities are the day-to-day administration and running of the complex and emergency medical assistance.

Yes, Toorak Place operates under the Retirement Village Act, which provides residents with clear rights and entitlements. Toorak Place is also a proud member of the Retirement Villages Association of Australia (RVA).

A Management Fee and an Owners Corporation fee (based on the size of the apartment) are payable.

These fees cover:

• 24 hour, 7 day a week, monitored Emergency Assistance System.
• Full time on site Manager
• All common area lighting
• Monitoring and maintenance of building security systems
• Service and maintenance of lifts
• Payment of water, gas and rates for common areas
• Cleaning and maintenance of underground car park
• All repairs and maintenance of the external façade of the building and common areas
• Staff costs including the Village Managers, cleaning and maintenance staff
• All administration fees
• Rubbish removal and recycling
• Public liability insurance for common areas
• Gas to the apartment cook tops
• Building insurance – external (contents insurance is the responsibility of each resident)
• Garden care, maintenance and development
• Smoke alarm, fire/sprinkler system and security alarm monitoring and operation
• Co ordination of individual requirements as needed such as apartment cleaning, laundry service, dry cleaning and personal care*
• Assistance with the co-ordination of social activities and special events
• Preparation and auditing of financial statements in accordance with Retirement Villages Act 1986
• Compliance with the Retirement Villages Act 1986

As is the case with a great majority of retirement villages, Toorak Place has a Deferred Management Fee. This fee is only deducted upon resale of your apartment. The DMF is an offset expense at the end of your residency, which allows the Manager to administer the property for the residents at or below cost over a span of many years, effectively recouping their operating loss at the time you sell your apartment. Without the DMF the management fees would be considerably higher. Please talk to our experienced sales staff for further explanation.

When the time comes for your apartment to be sold, then the transaction is similar to the sale of your existing home. While our sales staff would be more than happy to assist you in establishing the current market value of your apartment and helping you affect a sale, you are free to appoint your own agent to sell the apartment, at whatever price you determine is appropriate.

The only restriction on your sale is that you may only sell to another "eligible resident" who is somebody capable of independent living, over the age of 55 and prepared to sign a Management Agreement similar to that which you signed when you took up occupancy.

Yes, approved pets are allowed at Toorak Place. We operate a no nuisance policy and encourage responsible pet ownership.

Of course, it's your home – visitors are allowed to stay for up to four weeks. Beyond four weeks, it's usually not a problem, though you need to notify the Manager of the additional time frame – this is simply for security reasons.

Your family and friends are welcome to come visit you at any time and they are welcome to use the amenities, as long as a resident accompanies them. After all, it's your home and we encourage you to use it that way.

You are free to come and go as you please. If travelling for any length of time, just let the Manager know where to send your mail – and pack up, lock up and have a great time!