Management & Fees
Your Fees are Managed by the Greenwood Village Community
- All units at Greenwood Village are bought and sold as Strata Title Units.
- The Minimum age of entry for buying into Greenwood Village is 55 years.
- Greenwood Village is governed by an elected Owner’s Committee. Any Owner may nominate.
- All Owners have Voting rights as a Member of the Owners Corporation. The Annual General Meeting is held in November and Committee members are elected at this meeting and all Owners vote.
- Low deferred management fee and Low quarterly service fees.
- Insurance on common property and buildings is covered by the Owners Corporation.
- To maintain appearance, external alterations cannot be made to any Unit without approval from the Owners Corporation.
- Internal Maintenance of each Unit from its front brick wall to its back fence is the Owner’s responsibility.
Council Rebate on Rates
City of Kingston council rates are significantly reduced because the Village collects and disposes of all residents’ rubbish and the Strata Title shows that each unit is part of a Retirement Village.
Deferred Management Fee
The Deferred Management fee is calculated on the buying price of a unit and is settled at the time of future sale of a unit. The fee is based on the price paid for the unit x 2.0% per annum (or part thereof) and capped at 10 years.
For example, a unit purchased for $300,000 attracts a deferred management fee of $6,000 per annum and will not exceed $60,000 for this unit when sold after the 10 year period.
Quarterly Service Fee
- 9 – square Units : $543 per quarter
- 12 – square Units : $585 per quarter
This fee is effective from 1st January 2024. The fee is set by the owners via their body corporate committee of management and is subject to change from time to time.
The Quarterly Service fee will cover the costs of:
- Maintenance of all roads, gardens and infrastructure on common property, including the Community Lounge
- Building insurance
- Public liability insurance
- All rates and taxes on common property
- Household, green and hard rubbish removal
- Annual supply of new batteries for smoke alarms
- Provision of the 24 hour emergency alarm system to each household
- Cleaning of roof gutters
- Painting of the external faces of units and the Community Lounge
- Administrative services and associated costs
- Electricity costs for street lighting, office and Community Lounge
- Water usage for the common property
- Use of parks and BBQ facilities
- Cleaning of all common property
- Use of trailer
- Vegetable Garden