What is a deferred management fee

It depends. Some villages charge as much as 40%, however at a Ryman village you will pay only 4% per year for an independent apartment, which is then capped at 20%.

So, if you vacate a Ryman apartment or townhouse after 2 years, your capital sum will be repaid to you minus 8%. If you live in the apartment or townhouse for 25 years, you’ll still only pay a 20% DMF when you move out.

Ryman guarantees your DMF will not exceed 20% - even if you transfer to another apartment or townhouse within the village, or even if you transfer to another Ryman village.

This can vary, so it’s important to understand what each retirement village operator offers. At a Ryman village, you will pay the DMF when you vacate the village. The DMF will be deducted from your capital sum when it is repaid to you.

Many companies won’t repay your capital sum (minus the DMF) until your apartment or townhouse is on-sold, and there is no telling how long that process might take. It could be months, it could be years.

You will want an assurance that in the event the on-sale is delayed for any reason you will be repaid.

At Ryman, we guarantee that if the new resident has not settled within 6 months of you vacating your apartment or townhouse, then we will pay you interest on your occupancy advance until it is paid in full.

In over 35 years, the longest time a Ryman resident has waited to be repaid is 6 months.

It’s not uncommon for residents living in an independent apartment or townhouse to transfer to a serviced apartment if their health needs change and they require more support.

But what does that mean for the DMF on the independent apartment or townhouse you’re moving out of?

Many other providers may restart the DMF if you move from an apartment or townhouse to a serviced apartment. Meaning they will charge an additional DMF when you move out of the village.

At Ryman your DMF will always remain capped at 20% overall.

Therefore, if you've been living in your independent apartment or townhouse for 5 years or more and have hit your 20% DMF cap, when you transfer to the serviced apartment, you won’t have to pay an additional DMF. In fact, if the price of the serviced apartment you’re moving into is more than your exit entitlement on the independent apartment or townhouse, we won’t ask you for any more capital than what you’ve already paid. Ryman will wear the difference.

When it comes to DMFs, the devil is in the detail. Our advice: seek independent advice.

Our terms and conditions, underpinned by our resident-friendly Peace of Mind Guarantees, have been designed to protect residents and their families. But don’t take our word for it - speak to an expert.

Moving into a retirement village is a big life decision, so make sure you’re aware of what it means for you and your family. And if, after considering your options, you find that a Ryman village is the right choice for you, welcome, we know you'll love it here.