Questions about Roys Bay Estate?
All the answers below!
FREQUENTLY ASKED QUESTIONS
When will the apartments and complex be completed?
Stage one has been completed in the R Block, and stage 2 is now underway with 4 McAlpine villa's in the F block to be completed in 2020. The following stages are expected to be completed over the next 18 months to 2 years.
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?
Yes, you can use your home as a holiday home and your friends and family to stay for up to 3 months provided they follow the Roys Bay guidelines. If you choose you can put your apartment into the rental pool and get some extra income when you are not using it.
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?
Can friends and relatives come and stay?
Yes, they can, friends and family can stay for up to 90 days or 3 months with approval from the manager. Roys Bay is currently getting resource consent to allow for this with the council.
Am I allowed pets?
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 by all the family.
Is there an age limit to who can buy into Roys Bay Estate?
Who covers the maintenance?
How are the Body Corporate fees calculated?
The Body Corporate fee will be adjusted relative to the actual costs of Roys Bay Estate including the grounds maintenance and insurance costs. A full budget will be presented to all owners with no mark-ups 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 is the weekly fee and what does it cover?
The exact amount is yet to be determined, however it is expected to be $120 per week, levied monthly. This budget will be formed once the village is operational and contracts for services are met.
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:
A premium location and the closest to the lakeside and town. It is a 2 minute walk to the lake and a 10 minute walk to 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.