What is a Residential Land Lease Community?
Residential Land Lease Communities (RLLCs) offer affordable, relocatable housing to the the 55+ age group. Residents own their own homes and lease the land, paying an ongoing rent.
The homes are a far cry from the caravans of 30 years ago. Set within facilities-rich communities of like-minded people, the average manufactured home boasts all the mod cons, yet costs 50%* less than an equivalent home and land package.
By selling the family home and moving into an RLLC community, cash poor pensioners are given the opportunity to free up equity, travel and enjoy the good life that comes with financial peace of mind.
*New homes start from $250,000. Median house price, Australian Capital Cities $580,000 source: RP data, July 2014