About Northland District Masonic Trust
The Northland District Masonic Trust is different from other retirement village housing trusts, as its main focus is not on the potential profits to be made, but more importantly, on enabling Northland’s seniors to have affordable retirement housing in their own communities.
With five villages around the district, made up of two in Whangarei, two in Dargaville and one in Wellsford, the Trust adheres to the rules and regulations in place under the Retirement Villages Act 2003. Two types of housing are available at three of the villages – rental properties and Occupation Right units, where a person or couple can purchase the right to live at the unit, as their home for as long as they require it. The villages at Maunu Masonic village in Whangarei have rental units only. The number of rental units and Occupational Rights Agreement units does vary from time to time as the Trust has the flexibility to change the unit use based on customer demand.
As a registered charity, the Trust makes several favourable concessions from the normal industry standards, especially when it comes to the Occupation Rights units. Prospective residents offered an occupation right unit will be required to pay the Trust between 50-60 percent of the current market value of the property, plus administration costs. A weekly levy is payable thereafter to cover the cost of exterior maintenance, rates, ground maintenance and insurance on the unit itself. Upon termination of the lease, the original purchase price paid is refunded less an abatement of up to five percent per year for a maximum of five years.
This ensures that those who hold an Occupation Rights Agreement know how much money will be returned at the end of their lease, and the Trust returns the funds in a timely fashion too as the Trust guarantees to buy back the unit.
Operated by the Trust, the Masonic villages were created by the 14 Freemason Lodges around Northland, and are run by an Board with a working Executive committee. There is also a full-time Chief Executive Officer in place to ensure the smooth day to day operations of the villages.
The villages create a community of independent living, where residents can be assured of privacy and be enabled to lead their own lives, in a cost-effective and affordable way.
The Northland District Masonic Trust is registered under the Charities Act 2005, entity number CC2825T. Three of the current five villages are also registered under The Retirement Villages Act 2003.