Own Your Own Units
Council has a selection of two bedroom Owner Occupier units located in Morrinsville. Each complex is purpose built “own your own” housing for those who enjoy the security and independence of owning their own home but would otherwise find a property too large or too difficult to maintain. Low cost, low maintenance units are provided by Council for sale to individuals, who, as part of the agreement, enter into a buyback agreement and a contract to pay a monthly fee to cover day to day operational expenses.
To be eligible to apply for an Owner Occupier unit you must be 50 years or over, receiving National Superannuation, or be suffering from a health problem that requires you to move into a smaller home. Preference is given to applicants who have owned a house that they wish to sell (or have sold) because it is too large for their needs and would be more suitable for a larger family. Council’s decision is final.
Part of the agreement is to pay a monthly maintenance levy of $170. The fee covers the external day-to-day maintenance of your unit, including lawn mowing, garden maintenance in shared areas, internal roading, paths, storm water, sewerage, administration and building insurance.
Rates are payable by the owner of the unit, in addition to the monthly levies. They are payable directly to the rates division of the Matamata-Piako District Council and they are treated completely separately to your monthly levy payments. Waikato Regional Council rates are paid directly to WRC.
Sale of the Unit
When buying the unit each owner enters into a buyback agreement, stating that if they decide to sell the unit it must be offered back to Council. If Council decides to repurchase we will conduct an inspection of the unit to ensure that it is up to an acceptable saleable standard and to identify any work that may need to be completed. The owner can then choose whether to complete the work themselves before sale or for Council to have the work completed and the costs taken out of the owner’s proceeds from the sale. Once Council is satisfied, a purchase price is determined by an independent registered valuer, less a fee equivalent to the current real estate commission fee.
Ownership and Management
The flats in each complex have cross lease titles. This means the purchaser acquires their flat and a proportionate share of the land that is shared with the other flat “owners” (for example, if the complex is made up of 12 flats, the owner would possess an undivided 1/12th share of the land).
The flats are intended only for the personal occupation of the residents and are not normally permitted to be rented out, without the consent of Council and the other owners within the complex.
For further information, phone Council on 07 884 0060 or to download an application form, click on the button below.