THE SOUTH POINT RENTAL PROGRAM
The Rental Program offers South Point real estate owners the opportunity to earn rental income when their unit is not in use. Given the prime location, intimate setting, fine furnishings, and exclusive appeal, a premium pricing structure will be implemented, and owners can rest assured that best practices will be utilized in order to maintain a high occupancy rate and positive reputation as a top-tier luxury resort.
South Point real estate owners are not obligated to participate in the rental program, however, since South Point was created with the intention of operating as a condo hotel, a monthly resort fee will apply for those who choose not to participate. This fee entitles the owner to use the services provided for the benefit of South Point hotel guests, including beach and pool services, telephone service, PBX, and complimentary Wi-Fi.
Each South Point unit shall be individually owned, with separate legal title registered in accordance with the Registration of Condominium Titles Act. Common areas are jointly owned by registered owners—all of whom are members of the Condominium Association. As is the norm with condominium residences, a monthly Condo Association fee will be charged to each unit. It will be directly associated with the actual cost of operating and maintaining both the property and the individual units. Unlike most properties, however, South Point provides more for your money, as the fee includes not only the general management, administration and maintenance of the property, but also common area property tax plus insurance for buildings, common areas and public liability.
The South Point Hotel Management Company is the exclusive agent for condo rentals at South Point; Owners who do not participate in the Condo Hotel Rental Program are not permitted to advertise or rent their units independently.