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What To Look ForF.A.Q's
Can I get help with my payments?
Many older people are eligible for Attendance Allowance, which is not means-tested. Depending on your financial circumstances you may be entitled to financial support from the Pensions Agency.
The Services Manager for the Court can advise you in confidence and assist with making applications where appropriate. If you would like to discuss these options, please make your request by contacting Retirement Security Ltd. at our Stratford office.
What savings could I make compared to living in my current property?
You will not need to employ domestic, gardening or maintenance help. Buildings insurance is covered by the service charge and there is no ground rent payable. Because an alarm call system is fitted you will not need to register with an emergency lifeline service.
You will probably find that your utility bills are reduced – most owners are now paying less than previously for gas, electricity and water. You will usually pay less than the local market rate for additional services – charges for meals and for additional help are competitive as the Owners’ Company is non-profit making and charges are kept to a minimum.
Perhaps above all you will maintain the equity in your property – people with capital assets above £20,500 are required to fund the accommodation and living cost components if they move to a residential or nursing home. Our owners typically remain in their own home for much longer than average, and in most cases for life.
What costs do I have to meet over and above the service charge?
You are responsible for the utility bills (gas, electricity, water and telephone) for your own apartment. You are also responsible for paying any council tax on your own apartment. You will need to take out contents insurance.
You are responsible for payment for any additional services you may use, such as meals in the dining room or additional housekeeping assistance (over and above the 1.5 hours provided under the service charge).
How much will the Service Charge increase each year?
The Boards of Directors of each of The Management Companies aim to keep the annual service charge increase at no more than the September Retail Price Index. Where a greater increase is proposed, this can only be done if agreed at a formal meeting of all shareholders.
What does the service charge cover?
The service charge covers a variety of costs relating to operating and maintaining the development, as set out within the lease.
This accounts for about 64% of the Service Charge and staff, and the cost of employing a manager, a team of duty managers/housekeepers providing 24 hour on site cover, and a team of Housekeeping Assistants providing domestic services in communal areas and apartments.
Utilities – gas, electricity, water and telephone in the communal area account for approximately 4.5% of the service charge.
Maintenance and repairs – cost an average of 6.5% of the service charge, and cover the alarm call system, fire alarm system, cleaning materials, window cleaning, gardens, grounds and sundry repairs.
Administration and insurance – an average of 8% of the service charge goes to meet professional fees (audit, accountant and management fees), office expenses and insurance (building, communal area contents, employer liability, directors indemnity).
Fund for Future Maintenance – an average of 17% of the service charge is put aside for future maintenance and refurbishment.
This fund meets the cost of regular internal and external redecoration, and the refurbishment or replacement of furniture and fittings in communal areas. It also meets the costs of repair or replacement of major items such as the emergency call system and lifts, and any major items of building maintenance and repair that may be required over time.
What is the service charge and how often is it paid?
The service charge is an amount that is paid by the owner of each property on the development. The service charge is paid monthly in advance, by standing order, into the bank account of the Owners’ Company.
What is the Owners’ Company?
Each apartment or bungalow carries with it an entitlement to one share in the Owners’ Company. This is a limited company, with the only shareholders being the owners of property on that development. These shareholders elect the Board of Directors. Retirement Security Ltd. is the Company Secretary to the Owner’s Company.
Are Owners able to have pets?
Yes, pets are welcome at all developments as long as they do not cause a nuisance to other Owners.
What happens if my health deteriorates while I am living at the Court?
It is expected that your needs will change over time. There may be times when you need increased support (perhaps during a period of ill-health) and times when you feel you need less support or none at all.
The staff at the Courts cannot provide you with nursing care but they will aim to enable you to stay living in the same place in partnership either by providing additional services, or by putting you in touch with local agencies.
What are the advantages of Very Sheltered Housing over a nursing or care home?
The design of Very Sheltered Housing ensures that none of our Courts look or feel institutional. People residing at our Courts enjoy their own private property with their own front door. They control their finances and choose how much they wish to participate in the social and business aspects of Court life. Court staff support their independence as long as possible and most property Owners keep up their usual routines and activities within the local area.
How does Very Sheltered Housing differ from sheltered housing?
The main difference is in the sheer number of staff present during daylight hours and that a member of staff is on the premises 24 hours a day. At each Court there is overnight accommodation for one member of the Duty Management team.
Duty Managers take it in turns to sleep at the Court so that should there be an emergency during the night they can be on hand swiftly. In addition, a restaurant at every Court provides a waitress-served, three course meal every day of the year at a modest cost. For many people this is a very welcome additional service and for some, during a period of ill-health, it is a lifeline.
There are further significant differences which become apparent during a visit to one of the Courts. Above all Very Sheltered Housing offers true independence and choice and additional peace of mind to both Owners and their immediate families.
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