Our prices for the Life Rights are benchmarked against the selling prices of residential properties within the catchment areas of Mowbray, Rosebank, Rondebosch, Newlands and Claremont and are reviewed annually.
Each resident pays a monthly levy to the WVMA. An attractive feature of the village is that the levy escalates for 5 years after commencement at the rate of 5% per annum and is fixed thereafter for the life of the “Occupants” or of the surviving spouse/partner.
The levies cover village expenditures such as salaries, building insurance (but not content insurance), the upkeep of the village infrastructure, lawn & garden maintenance, administration, 24 hour access control, security services and refuse removal.
Residents are responsible for the cost of meals, telephone rental and calls, internal maintenance of their units, water and electricity consumed in the cottage/apartment, insurance of the contents of the cottage/apartment and certain health care services. On termination of the Life Right Agreement residents remain responsible for the payment of the levies and other costs pertaining to the dwelling unit until the handover of the unit to the new resident.