Departure Fees

THE DEPARTURE FEE

We at Horizons Village have adopted a system under which a proportion of our profit from owning and operating the Village is gained when the resident leaves a villa and the next resident moves in.

The departure fee is based upon the amount the next resident pays when moving into the villa excluding any amount for altering or improving the villa.

It is our priority to make sure the Village will always be attractive to new residents so we can receive the departure fee as soon as possible after each resident leaves.

In so doing it also makes sure that each resident is repaid their loan and any surplus to which they may be entitled if the amount of the next resident’s loan is greater than the amount of the resident’s loan ,as soon as possible after each residents leaves.

The departure fee is calculated on a daily basis for each day the resident’s lease continues until the resident has permanently vacated the villa. The maximum number of days is 1825 (5 years) and the maximum percentage is 35%