FREQUENTLY ASKED QUESTIONS
This summary has been compiled to provide additional information on the development created by the Vermillion Group, called Tremont Residences, in order to assist purchasers and their advisors. As this is intended as a guide only, it is not an exhaustive or binding explanation of the nature or effect of the documentation and does not form part of any contract. This information was initially prepared prior to construction and aspects may have changed during the subsequent building period now that Tremont Residences have been completed.
1. What am I buying?
Tremont Residences is a modern residential unit title development comprising a 4 level apartment building atop an enclosed and secure car park situated at the end of Wagener Place, St Lukes one of Aucklandís most cosmopolitan suburbs, complete with on site recreational facilities including outdoor seating areas and reflection ponds, a gym, spa, sauna, residentís lounge and tennis court and swimming pool, adjacent to the extensive Kerr Taylor Reserve and a short couple of minutes walk to Westfield St Lukes shopping mall.
2. Am I purchasing a Freehold or Leasehold Unit Titled Apartment?
You are buying a freehold unit titled property with a separate title for your apartment and carpark(s). All apartments in Tremont Residences are freehold and you own a portion of the underlying freehold land as a unit title. Unlike those properties which are on leasehold land, you will benefit directly from land value appreciation that always occurs over time and not have any worries about ground rent increases.
3. What is the purchasing procedure?
Contact us or one of our sales people, who will answer your questions and assist you in your decision making. Purchasing at Tremont Residences generally requires a 10% deposit, with the balance due on settlement when you move into your new home. In some situations a lesser deposit may be acceptable.
4. Is my deposit protected?
All deposits are held in trust in either the trust account of the Real Estate Agent handling your purchase for you or the vendor’s solicitor, Stainton and Chellew.
5. Can I still purchase an apartment if I don’t have 10% deposit?
If you have suitable equity in other property or assets or a suitable guarantor you may be able to secure your deposit by having a Bank Bond issued to cover the deposit that is normally required.
6. When do I settle on my apartment?
As the Tremont Residences complex is entirely finished, you will be required to pay the balance of the purchase price on settlement which is the agreed date that you wish to move in on that is in the Sale and Purchase Agreement, usually 4-6 weeks after the agreement has been signed.
7. Is there a defects & maintenance period?
You will receive on settlement a full and comprehensive manual for your new home with details of all the warranties and guarantees provided by the various companies that built Tremont. The longest warranty runs for 20 years.
8. What outgoings do I pay?
You are required to take responsibility for payment of Council rates and the Body Corporate Levy that apply to your new apartment as well as your personal contents and chattels insurance. The Body Corporate Levy includes the building insurance and water charges and all the building management costs.
9. What warranties are provided?
You will be covered by the Builderís normal warranty and the standard warranties provided by each trade for its workmanship and materials which are held by the Body Corporate for the benefit of all owners in Tremont. Dominion Constructors Ltd, the builders, have provided a 10 year overall weathertightness guarantee for Tremont Residences for your piece of mind.
10. Is there be a Body Corporate managing the property in conjunction with the Building Manager?
The Body Corporate is required by law to manage the administration and common property of the apartment building. It looks after all general maintenance and upkeep of foyers and corridors, lifts and car park area, external gardens and all other common areas, including the common facilities as well as safety, health compliance and building warrant of fitness and building reinstatement insurance, so takes away a lot of your worries.
11. Is there an onsite Manager?
There is a live in on-site manager contracted to the Body Corporate with his own administration office adjacent to the main lobby of the building. His responsibilities are to ensure peaceful, quiet enjoyment in a clean and tidy property and to ensure the common area facilities and grounds are well maintained. He may also provide owners with additional added value services such as rental management, laundry & dry cleaning services, car valet arrangements etc if requested.
12. As an Owner, can I be on the Body Corporate committee?
Elections are held annually to elect owner representatives to the Body Corporate Committee. We recommend you participate on the Body Corporate Committee, if you wish to be involved, to contribute in the management of your investment. The committee meets around 4 - 5 times a year as well as the Body Corporate AGM for all owners to attend.
13. How much is the Body Corporate levy?
The Body Corporate Levy varies depending on your apartment size and position in the building, and the final Body Corporate Budget is finalised by the Body Corporate Secretary in consultation with the Tremont Body Corporate Committee every year. In the latest budget for the current year a reduction in the levy of 3% was achieved from last year and a similar reduction is hope for next year with some further careful management.
14. What school zones is Tremont currently located in?
Tremont Residences is in zone and just over the fence from the highly sought after Mt Albert Grammar School and handy to Edendale Primary School while Marist School for girls is closeby in Alberton Ave. The tertiary campuses of Unitec and Auckland Institute of Studies are only a short few minutes distance away.
15. Can I have a pet in my apartment?
The Body Corporate Committee needs to approve any request to have a pet in your apartment, depending on circumstances. Please talk to us if you are considering a pet and we will assist in presenting your request to the committee for approval.
16. Is there secure car parking available?
Every apartment has been allocated with a private, secure car park and all 3 bedroom apartments have 2 car parks which are included in the price of your apartment, unlike many other developments.
17. Are there extra storage facilities?
There are no additional storage lockers available for sale. However there is a Storage King facility just up the road from the entrance to Tremont Residences if additional storage is required.
18. Are there any visitor car parks?
There are a total of 23 visitor car parks at Tremont of which 11 are secure with access controlled via the security system. This rare feature enables you to register an overnight guestís vehicle into a secure carpark with the building manager.
19. What type of security does the building have?
All main building entrances, car park and tennis court and swimming pool access is controlled by Security Card. A secure intercom system allows you to vet all visitors to your apartment before you allow them access to the building entrance lobby(The intercom opens the main building entrance door locks) while security cameras monitor the building entrance, car park and certain grounds locations.
20. Are fire sprinklers be installed?
A sophisticated comprehensive fire sprinkler system has been installed in Tremont apartments and its common areas so that if a fire occurs in a neighbourís apartment the fire sprinklers are designed to localise and extinguish the fire in that area of that apartment, without affecting you.
21. Are the apartments wired for internet & computer use?
Cat 5 data and telecommunications capability is provided to meet your future Internet requirements.
22. What about Sky TV and Digital TV?
A comprehensive MATV system provides pre wired access to Sky TV and Digital TV together with VHF & UHF throughout the building. The aerials are mounted in a central location above the lifts on the roof and all you have to do is plug your TV into the wall outlet. You will be responsible for any individual Sky or Digital TV charges for your apartment.
23. What has been done to ensure quietness in my new home?
Many other apartments are constructed with intertenancy walls constructed from single stud framing with an acoustic clip to support the wall linings, but these systems are known to transmit noise. Your new home has been built to meet or exceed the latest acoustic compliance conditions under the building code. Tremont also has a steel and concrete structure combined with either solid concrete or double stud intertenancy walls and acoustic linings to provide the quietest living environment.
24. What safeguards are in place to ensure my apartment doesn’t leak?
Typically buildings identified as having leaks or weather tightness problems have been terraced style multi unit developments or buildings constructed with plaster claddings over sheet panel systems and timber framed structures. Your new home has its structure constructed from steel and concrete with the external cladding being brick Ė materials used for durability and built to last. The plans and specifications for your home were also be peer reviewed by an independent weatherproofing specialist who reviewed all building materials and construction methods to ensure that correct weather tightness details and finishes have been utilised in the construction. You have the benefit of a multi layer roofing system and ventilated cavity brick construction.
25. Are furniture packages and other home furnishings available?
As a purchaser in Tremont you will be able to benefit from our bulk purchasing strength for furniture and additional appliances packages if you require them.
26. I know Tremont will be a great investment but is there anything else I should know?
Tremont Residences has a great address, panoramic outlooks and proximity to lifestyle options. The desirability and value of apartments in this unique locality is expected to be greatly enhanced with the future enlargement of Westfield St Lukes including its cinemas and eateries, while values will be enhanced by zoning restrictions not allowing further developments in the area. The area is set to become the next Newmarket.
27. Property Value
The list prices are determined in relation to the apartmentís size, location and reflect the quality of construction and facilities. Donít delay, this well located property is situated close to Westfield St Lukes, Mt Albert shopping area, Chamberlain Golf Course, Motat and Eden Park (Home of the Rugby World Cup 2011) with easy access to the Morningside Train Station and Aucklandís main motorway network.
We are able assist you with obtaining finance for your new home or investment. Depending on your circumstances we have access to competitive finance packages which can supply up to 80% finance or possibly more to approved purchasers, depending on your circumstances.
29. What is the developer’s background?
Geoff Hodgkinson, who is the principal of the development company, has over 20 years experience in the construction and property development industry which has included prestigious homes in Remuera, St Heliers and arguably New Zealandís most expensive street, Paritai Drive, as well as larger complexes in Papatoetoe adjacent to the Grange Golf Course and Avondale.