The Apartments

Weekly Outgoings Fee

Fees

This fee is payable monthly in advance and covers the cost of services such as rates, insurances, gardening, rubbish removal, exterior maintenance and the Statutory Supervisor service.

Apartments: Currently the weekly fee for one-bedroom apartment residents is $104.63 ($453.41 monthly) and $116.26 ($503.78 monthly) for two-bedroom apartments.

In the event that you vacate your apartment or villa and a new Occupation Right Agreement (ORA) is offered for sale, this fee continues to be payable until such time as it is sold. However, if after six months the ORA remains unsold, this fee will be reduced to 50% of the current rate.

Weekly Outgoings Fees are reviewed when Wanaka Retirement Village budgets are set each July, and may or may not be adjusted accordingly.

Deferred Management Fee

The Deferred Management Fee is only due and payable when you vacate your villa or apartment and once a new ORA is sold.

Also known as the Village Contribution, it is calculated as a percentage of the gross selling price of the new ORA and represents a return to PSO Retirement Villages Ltd for the provision of the Village, its roads, infrastructure and management as well as contributing towards any future upgrades of the apartment or villa.

The Deferred Management Fee is based strictly on your tenure of your ORA from the date of your ownership to the date your ORA is terminated, being:

  • 5% upon purchase; based on the sale price paid by the incoming owner
  • 5% at the end of your first 12 months of ownership
  • 5% for each successive year

The total Deferred Management Fee is to a maximum of 25%.

The fee for any part-year of ownership - apart from the first year - will be pro-rated to the actual time of ownership.