Frequently Asked Questions

What title do residents receive?

The title you will receive will be one of life occupancy. Your stay at Elphin Lodge will initially be in a cottage or an apartment. Thereafter, if medically necessary, in the Care Centre. In the case of a couple, upon death or transfer to the Care Centre of one spouse, the remaining spouse may continue to occupy the cottage or apartment.

What is the capital cost?

The cottage or apartment is available for a cash payment of the purchase amount. Unfortunately we cannot permit occupation until the full purchase price has been paid. 80% of the original purchase price will, upon leaving or in the event of death, be re-paid. The costs of frail care are applicable only to those residents using the Care Centre and are not built into the operating cost of cottages and apartments.

What will the levy be?

There will be a monthly levy charged for the units based on actual annual cost of services such as rates, sewerage, electricity, water, servicing of unit, external maintenance, insurance, administration costs, security and 24 days per unit per annum recuperation in the Care Centre. The levy is calculated at cost and every endeavour is made to keep escalation to the bare minimum.

What happens should transfer to the Care Centre be necessary?

Residents remain responsible for the charges for frail care. However, a percentage of the original purchase price will be available towards this cost as explained hereunder:

Single Occupancy:

An amount equal to 80% of the original purchase price will be placed in an interest bearing trust with the interest credited to your frail care account.

Double Occupancy:

On transfer of the first spouse to the Care Centre, an amount equal to 35% of the original purchase price is placed in an interest bearing trust with the interest credited to your frail care account.

On transfer of the second spouse to the Care Centre, an amount equal to 45% of the original purchase price is placed in an interest bearing trust with the interest credited to your frail care account.

Preferential rates apply for purchasers transferring to the Care Centre.

What happens on death

On death in a cottage or apartment of one spouse there is no accrual to the estate of the deceased spouse. On death in a cottage or apartment of the last surviving spouse, 80% of the original purchase price will accrue to the estate. On the death of the first spouse after frail care, no amount accrues to the estate of the deceased spouse. On the death of the last surviving spouse after frail care, any capital balance remaining in the trust will accrue to the estate.