Confusing Wording in ORA

A residents ORA states, “The resident will pay all costs incurred by the operator in restoring any damage to the interior of the unit (including the garage doors, plumbing and electrical fittings and fixtures) and keeping the appliances in good order, repair and...

Operator Charges Exorbitant ‘Transfer Fee’

A couple decided on an apartment (paying $1.3 mill) but soon realised that it was too small for their needs. They asked if there was a larger one and were told one may be coming up. They stayed on and were later able to secure an application for the larger apartment...

Capital Loss Clauses

Some villages have residents sign up to a capital loss clause – even when they get no share in the capital gain (i.e. if the value of their unit dips, then they must cover the loss plus all other fees). One Otago village has the capital loss clause so well...