GREENACRES ESTATE

Retirement Village

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Greenacres Estate in Kloof

Greenacres Estate is a retirement village under the umbrella of Kloof Retirement Villages. It is situated in the suburb of Kloof in the Upper Highway area of Durban. The retirement village comprises of 23 one and two bedroom units.

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Greenacres Estate

2 Edwin Swales Rd, Ronaldskloof Ext, Kloof, 3640

What to expect

Greenacres Estate is situated in the suburb of Kloof in the Upper Highway area of Durban. The retirement village comprises of 23 one and two-bedroom units. Each resident is responsible for the internal maintenance and upkeep of their unit, own householders insurance and security, telephone, electricity and water costs.

MONTHLY LEVIES

The levy includes the following:

annual rates – life-rights schemes receive 25% discount
audit fees
insurance (including geyser cover)
perimeter security costs
all external common property upkeep costs including lighting, garden maintenance, wages, and uniforms
all exterior building maintenance
refuse removal

VALUE-ADDED FEATURES

Residents at all our retirement villages enjoy preferential discounted tariff rates at our Care Centre should they require either post-operative, temporary respite or ongoing convalescent care.

PURCHASING A UNIT & MANAGEMENT

Residents purchase a Life Right Agreement which is governed in terms of the Housing Development Scheme for Retired Persons Act No 65 of 1988. A major benefit of a Life Right Agreement is that no Transfer Duties are payable on the purchase of a Life Right as the Title Deeds and Agreement remain the property of Kloof Rest Home Association. There is therefore no transfer of ownership registered in the Deeds Office. Purchasers of a Life Right automatically become a member of the Kloof Rest Home Association.

Members of the Management Association appoint a committee that has the responsibility of managing the retirement village as prescribed by the Act. Levies are revised annually and the Annual General Meeting is held as soon as the audited accounts become available. A portion of the income from the Resale of a Life Right is retained by the Estate to boost the Maintenance Stabilisation Fund.