Licence to occupy a Petree dwelling

Your non-interest loan

To retain a unit you pay a non-interest bearing loan for the duration of your tenancy.

Lifetime tenancy

Your tenancy licence is for life. But, if you leave Petree is available to help you obtain a current market value of the Unit and arrange marketing for a new tenant. After three years of tenancy and after the sale you receive 80% of market value. If you vacate before three years of occupancy the percentage retrieved by you is greater.

Cooling off period

After taking up residence there is a cooling off period of 15 days, and without reason you can terminate the Tenants' Licence Agreement and recoup your full Loan at any time up to 6 months after the date of taking up the Licence to occupy, and on paying a rent for the period of occupation. We will encourage you to seek independent advice about the Tenants' Licence Agreement.

More information

A number of questions from prospective residents regarding the Tenants' Licence Agreement appear on the 'FAQ' page.
A full copy of the Tenants' Licence Agreement is available for inspection by prospective residents at any time in the Petree Management office (see contact details). This agreement complies fully with the Retirement Villages Act of 1987 (South Australia).