Renting out your Unit
- This is what we will do when we rent your unit.
- Advertise your Unit on our Website.
On a “best efforts basis” find you a suitable tenant at a pre agreed rental fee up to the deadline date.
- Once a rental is agreed prepare and have signed a suitable lease agreement.
- Collect all the monies owing including a deposit representing 50% of the rental fee and the remaining balance 150 days before the rental period. Make all arrangements with the Resort and provide the tenant with a letter of introduction confirming arrangements.
Ensure the maintenance fee is paid prior to the Rental and obtain the acknowledgment of the Royal Islander
You agree to.
- Advise the terms of the rental and a transaction date deadline and pay the required advertising fee.
- Once we have a rental sign a letter of direction for the Rental Unit confirming no other arrangements for the Rental Unit has been made.
- Ensure the maintenance fee for the unit is paid for the rental week prior to the rental.
- Pay the “RIOTG” an 18 % fee (Minimum Fee charged is $150 per week) of the rental price to be paid from the proceeds of the rental.
- Any Rental transaction that is arranged within 30 days of usage our handling fee is 25% (Minimum Fee charged is $200 per week) of the rental price.
The Owners of the week are paid on completion the rental week.
We have helped many owners in renting out Units that would have otherwise been left empty or banked with little hope of using the time and/or finding accommodation for owners and friends wishing to visit St Maarten and staying at The Royal Islander Club.
For more information, please email us email@example.com
Renting a Unit from an owner at the Royal Islander
- We provide you with our simple rental agreement which covers full details i.e. dates, unit # and costs involved and the policy on cancellation options. We will also give you a copy of a formal reservation acknowledgement from the Resorts Reservation department.
- You agree to pay all the monies owing – including a deposit on booking of 50% of the rental fee and the remaining balance 150 days before the rental period.
RENTERS & OWNERS CANCELLATION POLICY – PLEASE READ AND UNDERSTAND
RENTERS, please understand you are renting the unit from another owner who will pay the annual maintenance fee and has committed to rent the unit to you.
RENTERS & OWNERS In the event the Unit is not habitable during the term described (Paragraph 1-4) because the Resort is closed due to Hurricane damage the Landlord shall refund all rents paid, less an administrative fee of $100. Transportation issues and or personal issues do not qualify for refunds however if we have adequate notice, we will do our utmost to re rent the week to mitigate monetary loss.
Buying a Unit
- The “RIOTG” is able to act on your behalf and handle buy transactions. This way, your privacy is assured and protected from what can be unpleasant “negotiations”. We charge no fee to handle the purchase, but the Resort charges a $285 Documentation Registration Fee for a purchase – which is payable by the new owner. We will do the following for you:
- Present your offer to the owner and negotiate a satisfactory resolution to the purchase price.
- Prepare and have signed a suitable buy/sell agreement.
- Obtain all necessary documents to complete the Purchase.
The Royal Islander Owners Timeshare Group will be acting as the escrow agent in this transaction. You can be assured no funds will be paid to the seller until you are in receipt of the ownership documentation, which correctly records your ownership interest. The process takes generally 90 days after all documentation has been received.
Selling your Unit.
- We will place your Advertisement on our Internet site once the advertising fee has been paid.
- Negotiate with and find you a suitable purchaser at a pre agreed Sale Price.
- Prepare and have signed a suitable sell agreement.
- Prepare and secure all necessary documents to complete the Transfer.
- Collect full payment from the purchaser which will be held in escrow until the purchaser is in receipt of the CLUB MEMBERSHIP AGREEMENT, which correctly records their ownership interest.
- Upon finalization of the transfer by the Resort all proceeds payable in US $ will be sent to you the Owner. less our selling and closing commissions of 15% (Minimum fee is $400) of the sale price.
Please be cautious of the many” timeshare selling companies promising to sell your unit but who want nothing other than an up-front fee i.e., $595 to list your week and then do nothing
It’s just a big scam