Rental Accommodation in Retirement Villages
Most retirement village accommodation requires the payment of an initial entry contribution, which can be substantial. However, some rental accommodation is also available, but unfortunately there is not enough of it and it can be hard to find, particularly in the main metropolitan centres.
Historically, the main providers of rental accommodation for seniors have been non-profit organizations such as religious and charitable organizations. The homes are usually located in small facilities and they are often reserved for people with limited financial resources. In some cases a few homes might be reserved for rental in larger retirement villages that otherwise require the payment of an initial entry contribution, but these rental homes are also often reserved for people with limited financial resources. As there are relatively few such rental homes, there are often long waiting lists and they are generally not advertised or listed in online directories.
More recently, the private sector has begun developing purpose built rental accommodation for seniors. These developments generally cater for the lower end of the market and charge a rental that is a percentage of the age pension plus the maximum rent assistance that is available from Centrelink (regardless of whether you actually receive the age pension or rent assistance). However, most of these rental villages are located in regional areas due to the cost and limited availability of development sites in the main metropolitan centres.
If you can’t find suitable rental accommodation after searching our retirement village directory, you could try contacting relevant local Councils, which may be able to provide information about other rental accommodation options in their specific local government area (LGA).
Please see the following pages of this Retirement Villages Guide for further information:
- An Overview
- Top Ten Tips
- Services and Levels of Care
- Financial Considerations & Departure Fees
- Departure Fee Calculator
- Rental Accommodation
- Legal Structures