Contract Options
Centennial Living currently offers two contracts to choose from, so you can choose the plan that works best for your situation. The two contracts are Essentials Contract, which is based on Deferred Management Fees, and an Assurance Contract, which is based on an Upfront Management Fee.
Aside from the fee structure, the contractual terms remain substantially consistent across both contract types.
Essentials & assurance contract comparison
| Contract Name | Essentials | Assurance |
|---|---|---|
| Feature | Deferred management fee | Upfront management fee |
| Management Fee* Rate | 30% of entry payment | 20% of entry payment |
| Management Fee Timing | Deducted at exit (deferred) | Paid at entry (upfront) |
| Resident Capital Share | Nil (100% to proprietor) | Nil (100% to proprietor) |
| Resident Refurbishment Costs | Nil | Nil (accelerated wear, tear & damage only) |
| Sales & Marketing Costs | Nil | Nil |
A management fee is a one-time fee that is capped and calculated as a percentage of the property price which is paid
on entry to the village. This percentage may differ based on the contract type chosen, and on the number of years you
have lived in the village.
We’re Here to Help You On Your Retirement Journey
Our lovely team members are here to help you find the retirement future that suits you best.
If you would like to learn more about the contract types, or would like to visit the villages to experience the village lifestyle and take a look at your future home please click the button below to get in touch today.