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For those home owners who
are interested in their homes earning rental income when they are away, this
resort operates a very busy, internationally promoted vacation rental program
with an on-site management office that takes care of all rental business.
Currently the property is
zoned for 30 day minimum rentals. Application has been made to the city to allow
daily rentals. If and when granted, this will significantly improve the viability
of this condo as a rental property.
Current Rental rates for unit #326 are;
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Off Season Monthly Rates |
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In Season Monthly Rates |
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Leisure |
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Corporate |
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Leisure |
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Corporate |
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Unit #326 |
$3,675 |
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$2,300 |
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Unit #326 |
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$4,785 |
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$2,600 |
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Management charges are 35% of rental income
received and take care of everything including marketing, admin, cleaning and
maintenance.
View rental management contract.
Occupancy results for 2005 and 2006.
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January |
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February |
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March |
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2005 |
2006 |
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2005 |
2006 |
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2005 |
2006 |
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1st Quarter Average |
85.63% Occupancy |
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OCC |
76.90% |
73.00% |
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93.60% |
90.20% |
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96.00% |
93.70% |
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$156.38 ADR |
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ADR |
$110.96 |
$122.29 |
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$145.94 |
$158.44 |
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$172.45 |
$188.41 |
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April |
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May |
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June |
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2005 |
2006 |
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2005 |
2006 |
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2005 |
2006 |
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2nd Quarter Average |
74.83% Occupancy |
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OCC |
83.90% |
89.20% |
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64.00% |
64.30% |
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75.20% |
71% |
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$132.35 ADR |
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ADR |
$105.66 |
$125.51 |
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$119.51 |
$137.60 |
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$120.74 |
$133.95 |
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July |
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August |
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September |
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2005 |
2006 |
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2005 |
2006 |
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2005 |
2006 |
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3rd Quarter Average |
59.83% |
Occupancy |
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OCC |
85.40% |
81.70% |
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61.00% |
52.80% |
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48.80% |
45% |
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$128.19 |
ADR |
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ADR |
$131.71 |
$148.40 |
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$121.98 |
$129.42 |
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$102.02 |
106.76 |
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October |
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November |
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December |
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2005 |
2006 |
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2005 |
2006 |
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2005 |
2006 |
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4th Quarter Average |
55.33% |
Occupancy |
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OCC |
57.40% |
56% |
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55.40% |
58% |
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53.30% |
52% |
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$116.29 |
ADR |
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ADR |
$106.92 |
109.65 |
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$104.32 |
$110.43 |
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