The Cost of Retirement Village Living & Other Frequently Asked Questions

Think about retiring to the coast? Papamoa is beautiful. The beach lifestyle is appealing but making the choice to move into a Retirement Village based in one of New Zealand’s leading seasides destinations can be exciting… and daunting. What’s involved? What are the fees? Are there rules? Well to inform you of what lies ahead, here’s a simple guide to some of our most frequently asked questions:

Let’s start with the costs, how does the fee structure work?

Capital Sum

The Capital Sum is the price paid for the Occupation Right Agreement (ORA)* to secure your right to occupy the unit of your choice within any Metlifecare village. The Capital Sum varies according to the size and location of the unit you choose. Once all the conditions have been met, the Capital Sum is required to be paid on settlement.

* An Occupation Right Agreement is a legal document that gives you the right to occupy that unit and sets out the terms of your occupation.

Management Fee

The Management Fee, also referred to as the Deferred Management Fee (DMF), provides you with a raft of essential village and dwelling services. These include:

  • The refurbishment of your unit after you leave
  • The re-licensing of your unit including all marketing activity
  • Legal and settlement fees
  • Long term village maintenance
  • Community facility chattels

The Management Fee is capped at 30% of the original Capital Sum of your unit, with the 30% being accrued at 10% per year for the first three years of occupancy. It is payable on the termination of your ORA, by way of deduction from the original price (i.e. the Capital Sum) of your unit.

Fixed Village Fee for life

When you live in a village you pay a Village Fee. This is a consolidated fee that captures costs such as council rates, water rates, building insurance, the upkeep of community facilities, gardening services, salaries and wages of the staff and village operations.

By paying a Village Fee, the hassle of paying existing multiple bills is eliminated – one fee takes care of it all. What’s more, Metlifecare assures this fee will not increase, thus it is fixed for life, irrespective of any increases in costs experienced by Metlifecare. This means you will always know what you are paying now and in the future, and no longer have to worry about unpredictable cost increases.

Your own costs

You are responsible for the cost of the internal maintenance of your unit, power, phone and contents insurance and day to day living expenses..

Who makes sure residents get what they pay for?

Be rest assured knowing an independent Statutory Supervisor has been appointed to each village. The Statutory Supervisor is there to monitor the financial position of the village to ensure that Metlifecare meets its obligations to you and there is a Deed of Supervision in place which governs the relationship between the Statutory Supervisor and Metlifecare. The Statutory Supervisor also holds a first ranking security over the village land. The Residents’ Committee also meets regularly with the manager and can raise any issues on behalf of residents.

Do residents get any financial reporting?

Yes. We want to be as transparent as possible, a summary of the village company’s audited annual financial statements is presented at the Annual General Meeting of the village. The village company’s Annual Report, including audited financial statements and the interim financial statements (unaudited), are available to residents, on request.

So, besides the financials what else? Can my friends and family stay with me?

Yes, of course! When you’re living the sunny beach lifestyle, friends and family will be looking for any excuse to come visit. This is your home. When you move into a Metlifecare village we want you to feel as comfortable as possible. That means inviting friends for a swim in the ocean, or the grandkids to stay for the weekend to build sand castles, is entirely up to you. All we ask is that any family members or friends stay for a combined total of 90 days per year, longer stays will require the agreement of the Village Manager.

What happens when I want to go on Holiday?

Feel free! If you want to take a break from the sunshine and beaches of Papamoa we will keep on eye on your home, keep the grounds tidy and make sure your mail doesn’t pile up. We want to make sure that you have peace of mind while you’re enjoying your vacation.

Can I transfer to another Metlifecare village?

Yes, if it turns out the sunny beaches of Papamoa are not for you, you certainly can. We won’t charge you transfer fees if you transfer from an independent living unit to a serviced apartment. Otherwise, we’ll discuss the transfer costs involved, and agree these with you to make sure you’re happy with where you’re living.

What happens if I decide to leave the village?

If you do choose to leave, simply write to the Village Manager expressing your wish to terminate your ORA. One month after receiving the letter, your ORA will be terminated and Metlifecare will endeavour to re-license your unit. Following the re-licensing you will be refunded the original purchase price less the accrued management fee.

Who pays for the refurbishment of the unit when I leave?

On termination of your ORA, Metlifecare is responsible for all refurbishment costs of your unit. Of course you may be responsible for any damage beyond fair wear and tear and any agreed reinstatement costs.

What happens if my unit doesn’t re-license straight away?

Your village fees will cease as soon as Metlifecare is provided with vacant possession of your unit. If it takes longer than nine months to re-license, we will pay you interest on the outstanding capital. Plus you can apply for an early repayment of up to $20,000 of the capital sum when your unit is vacated.

Where do I sign up?

Great, if living in Papamoa is appealing to you check out for more information or give us a call 0800 METLIFECARE

Who can I call to learn more about retirement living?
You can call 0800 METLIFECARE and we will be happy to assist you or visit our site where you can find links to independent sites that you can visit to help you make a more informed retirement living choice.

And as a bonus if you choose to settle before the 28 June 2019 and you will enjoy a 20K cash back at Papamoa Beach Village.*

*Terms and Conditions found at