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PRIMELAND development

Frequently Asked Questions
sycamore RESORT

Excellence in Vacation Projects

Also known as a recreational or secondary property or residence, a vacation home is often situated in a different location from the owner’s primary residence. Because vacation homes are only used at certain times of year, many owners rent out these dwellings when they are not using them

 

Rental Income

If you have the option, owning assets that produce income is a better financial strategy than owning assets that generate expenses. If you own a house or apartment for your own residence, for example, you need to pay for maintenance, repairs, taxes, mortgage interest, landscaping, utilities, or a homeowner association fee that covers some of these expenses. If, however, you own a house or apartment available for renting or lease, you can generate income with the property, and in some cases, end up with positive cash flow after all those expenses are paid for.

What is a Leaseback?

A professional property manager can offer a guaranteed rent program as part of their management services, which allows you to receive rental income from a property you own, even if the property falls vacant or your tenant fails to pay.

What is the benefits of owning a rental property?
  • Passive income source. Perhaps the biggest benefit to owning rental property is that it’s a passive income source. …
  • Greater security. …
  • Flexibility to sell at the right time. …
  • Option to move back. …
  • Property value appreciation. …
  • Diversification of investments.
Home buying FAQs

The most asked questions about the condo buying processing.

What kind of interior design and add-on options do I have for my condo?

Primeland design team already created a number of upgrades in adds-on for your unit and there is no additional cost for you. You will receive upgrade kitchen, flooring and appliances upgrades with no extra costs. 

Can I make changes to floor plans?

No, the developer and the design team in connection with the Property Management team design the most efficient use of the unit and already applied for building permits with the current floor plans that you find in our website.  

Will you customize or make upgrades to a new condo?

No, all units receive the upgrades already discussed with the Builder. 

How do I speak to a Sycamore representative ?

Sycamore sales team is available at email, mobile phone or office phone. 

info@primelandusa.com

Mobile +1 (321) 314-8762

Office +1 (407) 602-1700

Does Sycamore have any green or energy-saving initiatives or technologies??

Yes and we are very proud to be seeking on the GNBS – Green National Building Standard Certificate. To learn more click on the link: https://primelandusa.com/green-building/

How do I determine the taxes for a new home?

The Osceola County Tax office has a website for this purpose. We estimate the property taxes between 1% to 1.75% of the property assessment value. ( most of the time lower than market value). 

Do I need to open an LLC to purchase the unit?

No, but if this is your second home or if you are a foreign national you will find many tax purposes benefits having your investment property under a LLC ownership structure.

Do I need a real estate agent to purchase a new home?

No, we offer a specialized sales team to assist you with all your questions and to give you the best support to purchase your unit. 

Can I have a real estate agent (anyway)?

Yes, Primeland works with all licensed Real Estate Agents in the state of Florida and we pay all the commission, you have no cost. 

If I have a real estate agent, does he or she need to visit the community with me?

Yes, they need to introduce you to us and work in all aspects of the negotiation on your behalf. 

Construction FAQs

The most asked questions about the construction processing. 

What is the steps of the construction?

1- Plans, 2- Permits, 3 – Environmental, 4- Site work / development/ foundation, 5- Vertical construction, 6- Finishes, 7- Furnishing

 

Is Sycamore plan to be build in Phases?

Yes. We will have 3 phases. Phase 1 – completion of building A, F and Amenities, Phase 2 – completion of building B and C and Phase 3 – completion of building D and E. 

When Sycamore will be completed?

Our estimated date for all Buildings and Amenities is March 2022. 

How do I inquire about the warranty?

Part of your closing docs is to receive the warranty documentation. The Builder and Developer will provide contact emails and numbers for your warranty. You can contact directly the Developer that might be in contact with the Builder on your behalf. 

Financing FAQs

The most asked questions about the mortgage processing. 

Primeland offer assistance with financing?

Yes, one of our parenting companies Finance Express Mortgage will be providing Mortgage services and consulting to all our clients that seek a mortgage for their units. 

When the Mortgage process start?

The mortgage starts 60 days prior to closing, before that there is no need to provide any personal information towards the loan processing. 

How the process of mortgage works for US Residents?

US Residents will apply for a mortgage directly with Finance Express or any other institution that might be able to do the condo mortgage. The normal processing start with the credit report than the client provide personal information, the mortgage company provides terms and conditions and the buyer decide if they accept the terms in order to move forward. 

How the process of mortgage works for a Foreign National?

Foreign Nationals will apply for a mortgage directly with Finance Express or any other institution that might be able to do the condo mortgage. The normal processing start with the  client providing he/she personal information, the mortgage company provides terms and conditions and the buyer decide if they accept the terms in order to move forward. 

What kind of programs are offer on Sycamore?

Sycamore Resort is a condominium located on a Short Term – Comercial Tourism area. This means that the most common loan will be a Conventional with 25% to 40% minimum down payment required and the terms will vary between a Fixed or Adjustable rate ( 5/1 ARM) with 30 years amortization. Please referral to our Mortgage link for more information. 

INTRODUCING ACCESS MANAGEMENT

What they do best?

Access has unparalleled expertise in all aspects of hotel operations. We are leaders in the industry because we deliver a memorable guest experience based on each destination’s unique qualities. We work closely with our hotel partners to customize the guest experience around each property’s niche market. We take advantage of the location, environment, and owner’s objectives to create customized operating standards—resulting in high guest satisfaction and owner profitability.

Property Management FAQs

The most asked questions about the mortgage processing. 

What does Access Management mean for you?

Access Management will control all property management and booking operation on Sycamore Resort. 

What does your Rental Program mean for you?

Be part of the rental program means that you accept that your property will be managed and booking from one company only. There is no internal competition regarding rates and the property management will use a fair rotation system that creates equal* return for all owners. 

* all similiar type of properties receive the same rental income and have the same expenses. 

How the property will be booked?

Access Management will advertise the property on Sycamore Resort website and also in the major online travel plataforms: booking.com, tripadvisor.com, airbnb.com and all other vacation partnership that they be part of it for example travel agencies, private companies, etc. 

How the property will be managed?

Access Management will hire and contract all necessary hospitality professionals to keep and welcome owners and guests. They will have onsite management to take care of all aspects of the property maintenance. 

What is the responsibilities of the Property Management?

Management team will:

  • Hire a housekeeper services;
  • Daily check the property, we will schedule maintenance if necessary;
  • In-house maintenance of small repairs;
  • Bill payment – Water-Sewer-Trash, Electricity and Cable-Internet;
  • Check in and check out guests;
  • Work with the Booking Department to provide all services and special requests from your guests;
  • Provide operation report;
  • Maintain the Building common areas.
How much is the HOA? Master HOA? CDD?

All included (utilities)  HOA – $ 480/ per month

Annual Assessments – $ 960/ per year. 

Master Association – $ none 

CDD – $ none  

How is the revenue split between the Management and the Owner?

At the end of the month the gross monthly revenue income is calculated by the condominium unit. A management fee of 35% will be deducted from the gross revenue. The owner will receive 65% of the net rental income. The 35% include all booking fees, property management, reserves for furniture replacement and marketing. 

YEARS OF MARKET EXPERIENCE

MILLIONS OF DOLLARS IN REAL ESTATE PROJECTS

REAL ESTATE DEALS

SATISFIED CLIENTS

Primeland Development

Built to Last