Parkwood Trust is a charitable entity under the charities Act 2005 and is incorporated under the Charitable Trusts Act 1957 and began operating as a retirement village in 1971. Being a charitable trust means Parkwood does not exist for profit but for the provision of a quality lifestyle. Any financial surpluses made on its operations are applied towards improvements to facilities for the convenience and support of residents. The Board of Management includes professionals with a wide range of experience and two representatives elected by residents, all making their services available to the Trust on a voluntary basis.

The retirement complex, which is a member of the Retirement Villages Association of New Zealand Inc., comprises 209 villas (houses) which vary greatly in their design, giving an added appeal to the village.

Residents are issued with their own Licence to Occupy when they move into Parkwood. This is the most common form of ownership in retirement villages in New Zealand and gives the resident the right to occupy for life and the use of all community facilities. When residents purchase a Licence to Occupy their villa, the price includes a once only contribution of $15,000 entitling them to enjoy all the community facilities. Residents have preferential access to Parkwood Lodge, the Trust's Stage 2 rest home and geriatric hospital, which is situated in the heart of the village. When residents leave Parkwood they receive 90% of the Licence's current market value, with proceeds paid on settlement. The remaining 10% is retained by the Trust for the further development of the village and its facilities. No legal fees or selling costs are charged in respect of either the purchase or the sale of Licences.

Villa residents pay for the interior upkeep of their villas, insurance, power, and telephone. They also pay a minimal monthly fee, which covers local body rates, maintenance of all community facilities, lawn mowing, village grounds maintenance, courtesy bus, and 24-hour on-call home support. The Trust employs a team of gardeners and maintenance officers.

No longer worried by garden and house maintenance, residents are able to enjoy their families, retain their outside interests and participate, should they so desire, in any of the many village activities of their choice, yet live in a beautiful, fully maintained environment.

Visitors and families are very welcome.

Parkwood residents have their own Association, which elects an executive committee annually.

This very active committee meets monthly with the Trust's General Manager. It publishes a monthly newsletter of upcoming daily events, social activities, entertainment and items of general interest to residents.