FREQUENTLY ASKED QUESTIONS

Who are Holiday Lifestyle Developments?

Answer: HLDA are a team of property professionals with diversified skills and a wealth of experience in business across a multitude of disciplines.

The company’s focus is to create property opportunities that make economic and lifestyle sense to everyone involved in the journey.

Our skilled team of professionals have the knowledge to choose and purchase in the right locations, in order to deliver a great investment for future growth.

The key attribute to the HLDA model is that each lot in all their projects has the lot title separately registered with the titles office and can be pledged/mortgaged by the owner as security in favour of a bank/financier if required. It is also freely transferable without the consent of any other party.

This is typically not the case with other operators in this sector, most of whom either offer rental only options for the land or no specific interest in the underlying land, nor do they allow owners to rent their villas into the accommodation market.

A great advantage – there is no land tax payable, no exit fees, no surprises and if you are purchasing to live in – no stamp duty.

What is being offered?

Answer: Depending on which location you are being offered a range of investments with 6% ROI for up to 10 years.

You also have the option of living permanently or holiday home with periodic use.

All lots in each project are registered with Land Victoria and are transferable similar to freehold title by deed of lease transfer.

Is there any Stamp Duty or GST in the purchase of the registered Leasehold title?

Answer: No stamp duty is payable, as you are purchasing a registered leasehold title, GST is included in the price. Stamp Duty is only payable on investments or holiday homes on the land , not the building.

What do I legally obtain when I purchase a site?

Answer: You obtain title security (“Interest in land ownership”) for the length of your registered lease hold site and any improvements on the land.

What happens when the registered lease expires?

Answer – the initial term of the leasehold is for 250 years. Your purchase includes a further term to be taken at your option, the only cost in taking the option is title registration fees.

How many sites?

(1)Werribee south-41 Sites –Refer to layout

(2)Portland- 123 sites – Refer to layout

Do Banks lend this type of security?

Answer: Yes – up to 80% of the purchase price from various lending institutions or contact our office if you are having difficulty arranging finance.

What about a Solicitor?

Answer: As we do with Banks we recommend you use a solicitor familiar with a registered leasehold title structure. We have various solicitors with expertise throughout the state.(Please contact our office for a list of professionals who specialise in leasehold title conveyance.

Are household/domestic pets allowed in the park?

Answer: If you own your property and are not intending to let it out at all, Pets are allowed.

How much per week will I have to pay if I purchase my site?

Answer: Depending on the size of the site, the ongoing cost or total cost of Ownership including rates, Management, Maintenance, Lawn mowing, Public lighting and Public liability etc will be sharing between all site owners and calculated based on the lot and liability of the land.

What does my Annual Fee cover?

Answer: Wages, Superannuation, WorkCover and other employment related costs and contractors and expenses relating to the common area ie maintenance costs; gas (natural and/or LP); Rates and taxes; Telephone charges; Insurance; Depreciation and amortisation; costs repair, refurbishment and/or replacement costs of existing works and the facilities (Including those of a capital nature); Motor vehicle expenses; Office expenses; Bank fees and charges; Accounting and administration costs; waste disposal; Facilities and services; security; and new capital or non-capital works required by law.

How are fees increased?

Answer: Increases are based on actual cost increases for example if the rates increase by 10% in 2018 the budget would be increased by the same e.g. Rates $1,000 – 2017 Rates $1,100 – 2018 the increase is $100 you would pay the increased expense calculated by the lot and liability of your site.

Do I have to pay for insurance of any kind?

Answer: Owners will need to pay Building insurances. We have competitive quotes for you or can arrange your own.

Do I have to pay for water and electricity?

Answer: Water rates are included in your cost of ownership, unless separately metered. Electricity is metered with payment required on a monthly basis.

Can I sell my property at any time?

Answer: Yes, your property is your own and you are able to sell it at any time subject to complying with the terms of your registered Lease in relation to Assignment. Remember it is a registered Leasehold Title, registered at Lands Victoria.

Must I purchase the furniture package?(Only applies for permanent living or Holiday homes)

Answer: The properties are offered for sale with the option of a complete furniture package or alternatively you may supply it yourself, this could affect the rates chargeable. We strongly recommend in order obtaining the necessary rating, the furniture requires to be to a satisfactory standard.

Are all homes and villas air-conditioned?(Investments include aircon)

Answer: This is an optional extra, you will maximize your investment return having reverse cycle split system air-conditioning for tourist comfort. (Applies to holiday home owners, Renting when not occupied)

How do I receive an income from my investment?(Only applies for periodic use)

Answer: The management will ensure occupancy is distributed fairly amongst the villas having regard to tourist and patron preferences. A variety of villas ranging from 1, 2, 3 or 4br will provide a good choice for tourists, short and long term patrons.

“Investments guaranteed are paid monthly directly into your account “

Is there a Maintenance Fund set up to make allowance for repairs and replacement of furniture etc? Doesn’t apply to guaranteed investments

Answer: No, any related expenses to your villa eg. Broken glasses, curtain tracks etc. The Managers will provide a quotation for the cost of repairs or maintenance for the purpose of maintaining your property. However bear in mind should your villa be substandard it will affect your return.

What are management rights?

Answer: Management rights are the rights the business owner has to let villas within the complex, Provides a monthly statement to the landlord clearly indicating the lettings per month, the fees per month, net result, and either direct transfer to the landlord’s bank account or by cheque.

Is it mandatory to place my property under the management?

Answer: No, you are able to keep your home for your own personal use for either permanent living or holiday home. If you intend to generate an income from you home then yes it is mandatory to place your property with the onsite management in order for them to maintain control over the letting for overnight, short or long term. The management company have the experience and tools to deal with issues and problems associated with tenants and represent the landlord at VCAT hearings.

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