Yes, there is an body corporate that the 75 owners are members of and can vote on what happens with the money. The fees cover things like insurance for the buildings, gardening, rubbish collection and the long term maintenance on the property. 3-4k per year depending on the size of your apartment. This complex is build on freehold land that belongs to the owners.
Now that it's finished, it is owned by the 75 unit owners collectively (it's a free-hold building). There is a body corporate that manages the buildings maintenance and insurance that we all pay an annual fee to. The developer was NZ Living.
97m2 - bigger than a typical inner city apartment, smaller than a new-build 3 bedroom house. Though, having everything all on one level does make it feel bigger than it is (none of the floor space is taken up by a staircase).
Hey Lauren. Yes it’s about 4.5k a year. (A bit Less for the 2 bedroom units) It covers insurance, building maintenance, gardening and rubbish collection. A portion of that is not spent and is saved up in ‘long term maintenance fund’ to pay for big expenses that might occur in the future. If I compare it to the cross-lease flat we owned before this, it’s not actually too bad. The insurance was nearly $2k alone and maintenance was not being complete. I also had to do the gardening myself in the common spaces as the neighbours did not contribute much! We had to apply to have our cats, but the process was simple.
Come for the house tour, stay for the quality mortgage advice!
Really nice apartment - good purchase!
Thanks - we agree!
such a cosy looking place
Thanks Andy! I hope your well mate. :-)
Looks nice! 🏢🇳🇿
Such a lovely apartment
Thank you! We are travelling right now and missing how comfortable/cosy the apartment is. 🙂
Do you have extra fees for your apartment complex that you pay weekly I think they're called corporate fees?
Yes, there is an body corporate that the 75 owners are members of and can vote on what happens with the money. The fees cover things like insurance for the buildings, gardening, rubbish collection and the long term maintenance on the property. 3-4k per year depending on the size of your apartment. This complex is build on freehold land that belongs to the owners.
@@loganandtim Your apartment is lovely and that is such a good deal re the body corporate fees
What company owns the building
Now that it's finished, it is owned by the 75 unit owners collectively (it's a free-hold building). There is a body corporate that manages the buildings maintenance and insurance that we all pay an annual fee to. The developer was NZ Living.
How many m2 is this apartment?
97m2 - bigger than a typical inner city apartment, smaller than a new-build 3 bedroom house. Though, having everything all on one level does make it feel bigger than it is (none of the floor space is taken up by a staircase).
Hi Tim! are there body corp fees? did you have to get permission for your cats?
Hey Lauren. Yes it’s about 4.5k a year. (A bit Less for the 2 bedroom units) It covers insurance, building maintenance, gardening and rubbish collection. A portion of that is not spent and is saved up in ‘long term maintenance fund’ to pay for big expenses that might occur in the future.
If I compare it to the cross-lease flat we owned before this, it’s not actually too bad. The insurance was nearly $2k alone and maintenance was not being complete. I also had to do the gardening myself in the common spaces as the neighbours did not contribute much!
We had to apply to have our cats, but the process was simple.
Hi Phoebe 👋🏾 I’m Phoebe 😊
😺
Where (what region of NZ) I am every interested.
Auckland is located in the upper side of the North Island. It is the largest city in NZ with the biggest airport and sea port.