Pooling Mechanics

Pooling Mechanics

1) The unit owner is entitled to a 50% share of the gross rental revenue (net of taxes and service charge) of his particular unit.

2) Rental pool enrollments or pull - outs must be given 6 months prior to the start of each calendar year. This should be done via official, written notice addressed to the Residence Management.

3) All profit shares will be paid out to the investor annually during the month of April (net of taxes and services charge).

4) No hidden or surprise charges for the rental agreements. The total 50% gross revenue of the unit owner will be fully disclosed.

5) Annual Real Property tax and Php60/sqm/ month Association Dues will be charged to the unit owner.

6) When the unit is enrolled in the rental pool -
      a. No utility fees (water, electricity) will be billed to the unit owner
      b. All minor repairs and maintenance (air - conditioning cleaning and maintenance, light bulb replacements, etc.) will be to the account of the residence management 
      c. Complete hotel services
      d. All capital expenditures will, however, be charged to the unit owner.

7) When the unit is NOT enrolled in the rental pool - 
      a. Utilities will be under the account of the owner
      b. Residence management may be commissioned to provide housekeeping, repairs and maintenance and other services at preferred rate.