Thompson Wentworth provides a comprehensive range of life cycle property and asset management services to our developer, investor and owner clients. This spans various types of property ownership from freehold and leasehold tenure through to unit title and company share.
The above tenure categories dictate a requirement for the following types of asset management services.
Thompson Wentworth provides estate management services for our owners and investors of freehold and less than freehold estates. Regardless of tenure and whether these tenure structures accommodate commercial, industrial, retail, residential, mixed use or special purpose properties (such as retirement or aged care facilities), the management support required by our property developing, owning and investing clients’ typically involves;
Where multiple owners within a development own a unit(s) together with associated common and shared infrastructure and outside areas e.g. electricity and water infrastructure, drive way access, hard stand areas and landscaping and therefore have shared responsibility for this common property, the investors interest in the property is secured via either a Unit title (or Stratum Estate or Strata Title) or Company Share. The latter being where an owner or investor owns shares in the company that owns the property and each owner / investor has a license to occupy the property.
These ownership structures are typically found in apartment complexes, townhouses and small format commercial, industrial, retail, mixed use or shared community property developments.
The legal framework for the ownership and management of land and associated buildings and facilities by communities of individual owners is controlled in New Zealand by the Unit Titles Act 2010. The Act governs the subdivision of land and buildings into unit title developments, the creation of bodies corporate comprising all unit owners in a development to operate and manage unit title developments, and the provision of a regime for the governance of unit title developments to protect the overall integrity of a development throughout its life. The body corporate is responsible for a range of management, financial and administrative matters relating to the common property and the unit title development. The body corporate has a number of powers and duties, which are outlined in the Act and its supporting Regulations.
Thompson Wentworth enables Body Corporate Chairpersons and Committees to outsource to a safe pair of hands selected duties bestowed upon body corporate chairs and committees under the Act on behalf of the unit owners.
“Facility” means something that is built, installed or established to serve a purpose, which, in general, is every tangible asset that supports a private consumer or business undertaking. Examples are buildings & structures situated together with engineering & technical infrastructure (HVAC, electrical, fire, plumbing, lighting, transportation, communications & IT-services, furniture, and other user-specific equipment and appliances).
Thompson Wentworth provides facilities and project management services in support of our body corporate client's built environment asset management requirements. This includes;