how it worksWhat is a Land
Botanica Lifestyle Resort is a new style of over 50s community called a land lease community (LLC).
It is already extremely popular and proven throughout Australia with tens of thousands of residents in hundreds of communities. Cairns’ over 50s will now have their first chance to experience this exciting new style of living.
- No stamp duty
- No entry or exit fees
- Keep all capital gains
- No rentals
- No council rates
- No body corporate or strata fees
- Low maintenance
- Secure gated community
- 2 world class country clubs
- RV / caravan storage and wash bay
- Boat storage
- Pet friendly
own the home, lease the land
Residents in an LLC purchase and own their home outright, with a perpetual land lease from the site owner (Botanica Lifestyle Resort in this case) under a Residential Site Agreement. This agreement also covers access to all community facilities, maintenance of the resort and its ongoing management. Because you own the house, modifications are available and you can leave it as a willable asset.
Your Residential Site Agreement is governed by the Manufactured Homes (Residential Parks) Act 2003, which regulates the relationship between Botanica Lifestyle Resort and its residents. Your home has been engineered to ensure it is ‘relocatable’, however it will feature slab on ground construction and will function as a normal home.
You have the protection of legislation that ensures your ongoing right to tenure as prescribed by the Manufactured Homes (Residential Parks) Act 2003 and other relevant legislation. The agreement can’t be terminated as a matter of course or just on a whim by the Operator.
As you do not own the land, you are not responsible for the ongoing costs associated with the land, including council rates, stamp duty or body corporate fees. Instead, residents pay a weekly site fee which includes access to all community facilities, maintenance of the resort, landscaping of front lawns and common areas and onsite management and events.
One of the benefits of living at a Land Lease Community is that residents can receive government rent assistance, if eligible, for a significant portion of their site fees, making this style of living a very attractive and affordable option.
selling your home
You can sell your Botanica home at any time you like, with the choice of using either a local real estate agent or the on-site sales team. You can also rest assured that there are no Deferred Management Fees (DMF), no reimbursement fees and you will keep 100% of all capital gains.
not a retirement village
A land lease community is not a retirement village and is governed by completely different legislation. At Botanica there are no entrance fees and no exit/DMF fees which can run as high as 40% of the purchase price of your home at some retirement villages. Retirement villages often have additional deductible fees for the make good or refurbishment of your home after you sell it. None of these fees apply at Botanica with our residents keeping 100% of all proceeds from the sale of their home.