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Accommodation Pricing Options

At Emmy Monash we have different accommodation options available based on the level of care required by the resident:

  • Standard Single (High Dependency) Dandenong Road (maximum RAD of $555,000)
  • Deluxe Single (Memory Support Unit) Dandenong Road (maximum RAD of $710,000)
  • Deluxe Double (High Dependency) Dandenong Road (maximum RAD of $810,000)
  • Classic (Low & High Dependency) Gandel House (maximum RAD of $1,100,000)
  • Deluxe (Low & High Dependency) Gandel House (maximum RAD of $1,200,000)
  • Suite (Low & High Dependency) Gandel House (maximum RAD of $1,600,000)

 

Maximum permissible interest rate (MPIR) 5.78%

 

Option 1 – Refundable Accommodation Deposit (RAD)

A refundable deposit is paid as a lump sum amount.

MAXIMUM REFUNDABLE ACCOMMODATION DEPOSIT (RAD) $555,000 $1,000,000
Interest is payable from day of entry until the principle amount (RAD) is paid in full at the current legislated maximum permissible interest rate of 5.78%

 

Option 2 Daily Accommodation Payment (DAP)

A daily accommodation payment (DAP) accrues daily and is paid periodically at the current legislated maximum permissible interest rate of 5.78%

MAXIMUM DAILY ACCOMMODATION PAYMENT (DAP) $87.88  $158.36

 

 

Option 3 Combination Payment (RAD & DAP)

A combination payment is available which includes both a partial lump sum and daily payments. The example below highlights a 50% partial lump sum payable on $555,000 and $1,000,000 entry price

MAXIMUM REFUNDABLE ACCOMMODATION DEPOSIT (RAD) $277,500 $500,000
MAXIMUM DAILY ACCOMMODATION PAYMENT (DAP) $43.94 $79.18

 

In addition there are daily residential fees that comprise the legislated basic daily fee and a possible Extra Services fee and a Government assessed means tested fee.

 

The above information is correct as at 1st April, 2017. 

It is provided as a guide only and is not intended to replace independent financial or legal advice. Further information can be obtained from the Placement Services Coordinator