What is a Residential Land Lease Community (RLLC)?
Are you looking to downsize from your current home and upgrade to a dream resort-style lifestyle you can afford?
If so, residential land lease communities are an innovative new option for over 50s and those seeking an affordable retirement option. So what exactly are residential land lease communities?
Also known as a manufactured home park, lifestyle estate or residential village, residential land lease community can be defined as communities where residents own the house while leasing the land from the estate.
A socially sustainable business model, developers of land lease communities tend to focus on ‘greenfield’ sites in popular holiday and retirement destinations.
One of the things that makes residential land lease communities affordable is that because of the ‘lease’ component, some residents may be eligible for Federal Government benefits, including the pension and rental assistance.
Willow Cobram: A land lease model in action
Let’s take a closer look at how residential land lease communities Victoria-based work. The first thing to note is that, these communities aren’t operated in the same way as a traditional retirement village. In other words, you don’t have to be retired, only over 50!
Unlike other senior living options where you never own your home, at Willow Cobram Resort, you own your home and live independently. You don’t have to pay stamp duty or conveyancing fees at the purchase point.
For additional peace of mind, Willow homeowners are protected under the Residential Tenancies Act. Having a 50-year secure lease gives you an exclusive right to occupy the land and to use all of the Resort’s luxury facilities.
This weekly rental fee also covers council rates, and sewer and water charges, making weekly budgeting simple. There are no other fees charged by Willow. You simply cover your own utilities such as electricity and telephone, typical of any normal residential lease.
When it comes to residential land lease communities, Willow Cobram offers fantastic conditions.
Not only do houses retain their value, they can often be sold quickly, without the costs and complications associated with retirement villages. For example, retirement villages typically charge high exit fees (Deferred Management Fees) as high as 45% when houses are sold, while at Willow, no exit fees are charged.
An active and enjoyable lifestyle
Australians are becoming healthier, living longer and spending more time in retirement. It’s become more relevant than ever to have the lifestyle we prefer, in a location we love, once we reach our 50s.
Willow Cobram Resort is all about vibrant and healthy living. As one of Victoria’s quality resort-style residential land lease communities, we offer the following facilities to promote social connection, and mental and physical wellbeing:
The Resort’s luxury 5-star facilities include:
- A luxury Clubhouse with free internet and Foxtel
- Comfortable dining, lounge and function rooms
- Outdoor entertainment areas
- Relaxed and friendly bar and games rooms
- A state-of-the-art theatre room
- A snooker and pool room
- A library and computer room
- A swimming pool with adjoining café and BBQ area
- A fully equipped gym and sauna
- A bowling green
A fabulous location
As one of Victoria’s sought-after residential land lease communities, Willow is beautifully situated near the iconic Murray River, just a three hour drive north of Melbourne. Cobram itself is fast becoming a popular family holiday destination with plenty for everyone to do.
The region has been popular with retirees for years.
A major town of the Moira Shire, Cobram is close to key regional centres such as Shepparton, Wangaratta, Echuca-Moama and Albury-Wodonga. The area has no shortage of amazing attractions to keep you and your visitors entertained. In fact, we welcome guests and pets!
Our resort is close to shopping facilities and recreational facilities such as bush trails and numerous golf clubs. You’ll also enjoy easy access to the town’s public hospital and community health centre.