The annual cost of Co-Ownership
As with any home or holiday home there are always annual costs of ownership to consider. The apartment that Second Home is currently marketing at Jack’s Point is a good example.
As with any home or holiday home there are always annual costs of ownership to consider. Jack’s Point is a well-regulated community and there are levies payable for the upkeep of common grounds and the internationally renowned golf course, rated number two in New Zealand by NZ golf magazine in 2020, on the shores of Lake Wakatipu.
• These annual costs of ownership are managed by Second Home and are divided equally between all 8 owners and paid monthly. Owners have access to all monthly accounts and you only pay 1/8th of the actual cost of each service. We have an experienced local home manager who takes care of the day to day running of your holiday home and we look after the calendar of use for all owners and all administration and owner care.
• To ensure a consistent standard of cleanliness, the apartment is professionally cleaned at the end of each stay and this cost is passed on to the owner applicable. This also removes the burden of cleaning from all owners and adds to your enjoyment of your holiday. Our cleaning professionals charge $63 per hour inclusive of GST for this service and their time is based on the amount of work required. If you have only used one bedroom, one bathroom and the apartment is generally clean, the fee will be less than if the whole apartment has been used.
• Any substantial expenses like the replacement of a furniture item in the future must be agreed by a majority of 75% of the owners with the cost being divided 8 ways.
• An annual budget is available as a guide to the estimated monthly costs per 1/8th share owner. The management fee will increase annually in line with CPI and a review to market will occur every 5 years. Please note these figures are based on the current information available and are an estimate only.
Estimated annual costs per co-owner incl GST in NZD
Body Corps - $650 pa. Jack’s Point Golf Levies $50 pa
Jack’s Point Residents Owners Assoc Levies for 2023/24 $340 pa
Rates – Queenstown Lakes District Council and Otago Regional Council $490 pa
Electricity - Queenstown average Canstar Blue $295 pa per owner - allow $430pa
Bio Fuel for fireplace $220pa
Insurance - $162 pa - FMG Insurance brokers have provided an indicative figure for contents only as the building Insurance is covered in our body corp fees
Wi Fi - $130 pa
Consumables $125 pa
Maintenance – Carpet Clean, replacement crockery, cutlery, glasses etc $300 pa
Second Home Management includes your personal Concierge to check your home at the end of each stay and again before you arrive and organize any special requests. Setting and managing the annual calendar of use for all co-owners, co-ordination of repairs and maintenance, accounts, web management and ensuring your experience as a Second Home owner is our top priority - $4,800 pa
Approx Total Per Owner Per Annum is $7,700 paid monthly at approximately $640
An exit clean is payable at the end of each stay at the rate of $63 per hour plus linen and towel hire, and laundry as required. The exit clean will be charged according to the amount of cleaning required.
Note: These figures are an accurate guide as of January 2025 however they are subject to change and reasonable cost increases.