Own your own pensioner units

The scheme | Units for sale | Applications

The scheme

The Own Your Own (OYO) is a scheme operated by us. It allows you to purchase the council owned units at a discount which is normally 80 per cent of the market value.

You must generally:

be 65 years or older
be receiving national superannuation
be buying the unit for your own use.

The unit must be in your name (or a Family Trust) and cannot be sublet to anyone else. Generally speaking there should be no mortgage over the property.

The legal costs associated with our preparation of various documents is payable by you on settlement. These are typically $450-$500.

We have the right to buy back the unit if you wish to move, or in the event of your death. The buy back price is 80 per cent of the market value at that time. This means that you benefit from most of the capital gain in the value of the unit.

These particular units are on a cross-lease title, meaning you own your particular unit, and share the grounds and parking area with other residents.

There is an individual title for each unit.

As the owner of the unit, you can decorate it to suit your own requirements. You will need to meet the cost of any renovations, and obtain any relevant permits (if required). In addition, you will bear the cost of maintenance - just the same as owning any home.

The residents generally share the cost of lawnmowing, making this a very modest cost for each resident. Typically one of the residents takes responsibility for organising this and collecting everyone's share. You would be responsible for the garden area around your own unit.

Water rates are separate for most of the units. The units at New Windsor Road and Tripoli Road are on shared meters, but the water company sends each unit owner an individual account.

Units for sale

The following units are for sale:

14-16 New Windsor Road, Avondale
1, 3, 5, 7 and 19 Coyle Street, Sandringham
16 Burch Street, Mt Albert
9-15 Carrick Place, Mt Eden
113 Trafalgar Street, Onehunga
19 Tripoli Road, Panmure
Units 52-58, 7 Rowlands Avenue, Mt Wellington

Applications

You must complete an application form to register interest. You can:

download an application form - Expression of interest in Auckland City Council's "Own-Your-Own" Pensioner Housing Scheme (69kb) PDF
contact us and we will post it to you.

To view PDFs download Acrobat Reader from the Adobe website. Further help on how to view PDFs.

We will assess your application and inform you of the outcome and, if you qualify, we will invite you to view the units.

Published April 2008