St Aidans Presbyterian Property Trust

The Trust makes available each of its 9 units to people aged 55 years and above on a ‘licence to occupy’ basis. In essence each resident enters in to an agreement with the Trust to provide an interest free loan equating to the value of the cottage. As part of the agreement the Trust provides a cottage in good order and condition for the exclusive use of residents. The Trust maintains the cottages and surrounding grounds, pays the rates, water rates, and building insurance. Each cottage is levied a ‘service charge’ to cover these outgoings. The Trust endeavours to keep the ‘service charge’ as low as possible. The ‘service charge’ is set at a rate so that the Trust can meet its costs without making undue surpluses. The Trust is a not for profit, and has charitable status. Thus, there are no financial gains to the Onewa Christian Community Church. Additionally, all Trust Board members are volunteers and receive no remuneration for their time.