The Villas were constructed in three different stages. This phased construction is generally referred to as stage 1, stage 2 and stage 3.  Each stage is shown on the diagram below.

Amalgamating the three body corporates into one has been considered. However, this would be a very difficult task and the complexity and cost of doing this outweighs any expected benefits.  Having the same body corporate secretary for all three body corporates (i.e. stages) creates an opportunity to align and consolidate how the body corporates operate.  

There are 52 Body Corporate Villas at Terrace Downs. The Villas are each a separate unit title in the name of the individual owner. The Resort owner (in addition to owning the Resort itself) owns approximately 25 of the Villas and so is both the Resort Owner and is also a Residential Owner. These Villas are used by the Resort Owner for hotel style accommodation.

The Villas are each a separate unit title which is a common legal structure for apartments and townhouses in New Zealand. Each owner of a unit title property is a member of a body corporate.

When a Villa is being sold information on costs relating to the body corporate (including levies) and other important information is provided in a pre-contract disclosure statement and a pre-settlement disclosure statement. Potential purchases should obtain and seek advice on these documents prior to purchasing a Villa.

The pre-contract disclosure statement and the pre-settlement disclosure statement are important documents and the primary source of information regarding villas and body corporates.

The body corporate manages what is referred to as the common areas and commonly managed assets. The common areas are shown on the body corporate’s title plan, for example paths, stairs and gardens.

One of the key things that the body corporate does is arrange insurance for all of the Villas that are part of it. The body cooperate charges each villa owner an annual contribution levy to cover costs such as insurance and maintenance.

Responsibility between the body corporates and the Villa owners for such items as aluminum sliding doors, common area lighting, entry doors etc is clearly defined. A schedule is available from the Body corporate secretary on request. 

Yes.  The rights and obligations of Villa Owners have been formalized in the Cost Sharing Agreement and the Owners’ Society Constitution.  The position under those two agreements is the same for Villa owners as it is for Chalet owners.  The intention is that the Cost sharing Agreement and Owners’ Society Constitution clarify and expand on the various easements and encumbrances that exist on the Villa and Chalet titles. Each of the Body Corporate’s has one representative on the Owners’ Society Committee.

Each body corporate has an annual scheduled maintenance plan and a long-term maintenance plan.  The long-term maintenance plan is a legal requirement.  It identifies future maintenance requirements associated with the common areas and commonly managed assets over a period of at least 10 years. A portion of the body corporate’s annual levy is allocated to building a long-term maintenance fund which can be used to undertake future repair/replacement work when commonly managed assets come to the end of their economic life.

Each of the three Body Corporates maintains their exterior and common areas such as paths, driveways gardens and external lighting.

Thompson Wentworth, a specialist in property and body corporate asset management, acts as the appointed secretary for all three body corporates. They can provide information and guidance to villa owners on request.   Click contact below.