FREQUENTLY ASKED QUESTIONS
When will the apartments and complex be completed?
Stage one has been completed in the four stunning Ranfurly Apartments, and stage 2 is now completed with six McAlpine villa's in the D, E and F block (4 finished and 2 to be built) by mid 2021.
Exciting Stage 3 starts mid 2021 involves constructing 13 Glenorchy townhouses blocks G,I, and B all with their own garage and 3rd room upstairs for an office or extra space.
The following 4 stages are to be completed before December 2024. We expect that 50% of the owners will have moved in by late 2022.
What deposit do I need to secure my apartment choice?
Roys Bay only require a 10% deposit which is fully refundable at anytime during the building process.
Can I use Roys Bay as a holiday home or for rental?
Yes, you can use your home as a holiday home and also long term rental (currently over 90 days) provided guests follow the Roys Bay Body Corporate rules.
Roys Bay is currently undergoing council consent for more flexible rental options for owners through a well managed rental poole. Renting out your unit is of course completely voluntary.
Most people will want to live at Roys Bay permanently and we understand that owners and neighbours want assurance that Roys Bay will be well managed and all owners will have the quiet enjoyment of their property.
This means that our manager will ensure we have well behaved guests on site with strict rules on noise and behaviour. Our manager will be on site 24/7 so that permanent residents, neighbours and guests can enjoy Roys Bay in complete comfort and quiet enjoyment.
This lifestyle provides a vibrant but well controlled community that is respectful and enjoyable for everyone at Roys Bay Estate.
Am I allowed to alter my apartment or unit?
Yes, you may, with prior approval from the operator and by using operator approved designs and contractors. You may need to return the unit to its original form at exit at your cost.
Who pays for rates, insurance, power, and phone?
Each resident will pay their own rates (aligned with the individual unit title), power, phone, and contents insurance.
The operator will be responsible for the building insurance of each unit and the wider village amenities.
Residents may be liable for the insurance excess on any damage to their unit should this occur by accident.
Can friends and relatives come and stay?
Yes, friends and family can stay.
As a general guideline guests can stay for up to three weeks at any one time. However this can be extended with the prior approval of the manager (who will be only to happy to oblige if everyone is well behaved).
Am I allowed pets?
Yes, you are, with the prior approval of the operator/Manager.
This is done on a case by case basis with the interests of all residents as the key consideration. Well behaved pets are very welcome.
We consider a small dog or cat as most appropriate.
Can a Trust own a property?
Yes, a family trust may purchase a property at Roys Bay Estate, making it an excellent investment to be enjoyed longterm by all the family.
Is there an age limit to who can buy into Roys Bay Estate?
No there is no age limit for Roys Bay purchasers, however you need to be 55 years or over to permanently reside in the estate. Visitors and guests can be of any age.
Who covers the maintenance?
All maintenance costs for the exterior of the units, and the village common areas, are covered by the operator.
All maintenance costs for the inside of the units are covered by the resident, including the operator’s chattels.
How are the Body Corporate fees calculated?
The Body Corporate levy will be adjusted relative to the actual costs of Roys Bay Estate including the grounds maintenance and insurance costs.
We estimate that the Body Corporate levy will be between $5- $6,000 annually, or about $120 per week per unit. The levy is at the lower end of the scale in comparison with similar body corporate structures - full transparency of costs will be available to all owners.
A full budget will be presented and strictly monitored contracts. Residents will be invited and consulted with at the Body Corporate Annual General Meeting held each year and presented with fully audited accounts with an open book policy.
A registered professional Body Corporate will manage the contracts to keep fees at a minimum.
What makes Roys Bay Estate different from other Lifestyle Villages and Developments?
Compared to other lifestyle or retirement villages Roys Bay Estate differs in the following key areas:
premium location and the closest to the lakeside and town.
- Residents are entitled to the capital gain (or the profit they make) on re-sale of their home.
- Roys Bay has no Deferred Management Fee (DMF) which in a retirement village is typically 30% of your purchase price.
- There are no fees associated in buying or selling your property at Roys Bay other than your own real estate fees.
- Freedom to use your property as you like, as a permanent home, as a holiday home, or a mixture of both with the opportunity to rent if you choose.