Sycamore is focus on Effective property management. This effort requires a close working relationship between tenants, investors, and managers. This enhances the ability to satisfy each party’s needs while improving NOI (Net Operating Income), ROI (Return On Investment), and the property itself.
How s this work?
How much? How long?
Sycamore Resort Property Manager will lease the property and create a revenue for property owners. The Property Manager will be responsible to pay the owner rental income for 1 year after closing.
How this works?
Commencing the first full month following Owner’s purchase of the Unit,
each month during the Term, Owner shall accrue an amount equal to ten percent (10%) of the gross purchase price of the Unit (excluding of the purchase price of all furniture and furnishings)
divided by twelve (12).
RENTAL PROGRAMS OPTIONS
- Guaranteed 10% Rental Income for 1 year.
- Owners will receive monthly income deposited directly in the owner checking account.
- The unit can be used up to 15 days a year.
REGULAR RENTAL PROGRAM
- Owners will receive monthly income deposited directly in the owner checking account;
- The unit can be used up to 60 days a year;
- No Block out dates;
- Property Management will take care of all check-in check-out, guests services and concierge services.
PRIVATE OWNED – PRIVATE USED
- In this program, the owner does not participate in any rental program.
- The unit will stay closed whenever is not being used.
- The unit can be used up to 180 days a year.
- Property Management will support the maintenance services
Property Management Information
Sycamore Resort is happy to introduce to you Access Management the company that will be our onsite booking and management.
To learn more, download Property Management information
To learn more about the services provided by our Access Management download Brochure
Management Rental Operation
To learn more about the how the rental properties work the sales, revenue management and reports download Power Point presentation
Owner Use and expenses FAQs
The most asked questions about property management.
How many days the owner can use the unit?
We have 3 different rental programs options, If the unit is for private use up to 180 days. On a regular rental program 60 days and during the Leaseback up to 15 days (blockout dates apply)
Do I receive daily housekeeping while staying in my unit?
Not for default, but you can add those services to your stay.
What is the owners fixed expenses?
The owner is responsible for HOA , Property taxes, Insurance, Annual Assessments. Our HOA include all utilities. There is no Master Association or CDD on Sycamore Resort.
What is the insurance needed it for my unit?
For your protection we required personal liability, interior liability and coverage for personal items.
What happened with my income when I decide to sell the property?
You will receive income during all your ownership. When you schedule your property to selll, we will withdraw the unit from the rotation, so you are free to schedule your closing with no commitment to future guests.
The most asked questions about the rental income of your unit.
How are the rental rates determined?
The property management will hire a rental income specialist, in the hospitality industry this professional is the Revenue Manager. He is responsible for research comparable prices and properties to determine the highest possible income that you might receive in a daily basis.
How the units will be advertised?
The property management will use online plataforms, the most known travel websites: booking.com/tripadvisor/airbnb. The property will be also advertise Sycamore website on google ads.
How the priority of units are determined?
The property management will use a rotation system. Properties with be classified as suite, deluxe suite, superior suite, deluxe suite. This classification is based on unit location and view. Once the property is classified and the client chose their options, the units will rotate to a fair opportunity to all owners.
How much is the Revenue split?
The units will have the following split: Gross income will subtract 35% of rental costs and the balance will be paid to owners (65%) as a net rental income.
Do I have access to bookings?
Yes, the property management will create an individual login access to each owner for online access of all property information.
Do I receive monthly income?
Yes, each 20th of the month owners will receive direct deposits payments on their checking bank account in the United States.
Do I receive monthly statements?
Yes, every month the property management will issue a statement of rentals, costs and net income to be paid to each owner.
Can I rent my own property?
No, the property management will advertise and rent all properties, to avoid any internal rate competition on Sycamore Resort.
What it means pet friendly resort?
It means that: Property Management will set a group of units to participate of the pet friendly available units for rental. The rule is: Acceptable pets; Cats and Dogs. Only friendly breeds up to 25 pounds per pet. All units on the 1st floor are pet friendly units (The reason is to avoid pets on the elevator) pets cannot be left unnatended, all pets during the “day” have to be left at the pet hotel for day care.
The most asked questions about property maintenance.
When the property will be painted?
The units are schedule to it’s first maintenance in 5 years.
When the furniture will be replaced?
The furniture is schedule to change in 5 years ( all textiles – sofas, courtains, pillows,mattress, etc.) After 5 years all furniture package including appliances, tables, beds, will be replaced to keep the upscale appearance.
Can my insurance cover small accidents?
Yes, the insurance for rental properties ( DP3) will coverage property accidents, damage on personal items and property items.
Do we need to keep a reserve for maintenance?
Yes, remember you are the sole owner of the property. We can rely on insurances but sometimes is better to pay for a small damage than start a claim. Normally when you open a claim the insurance company raise the monthly expense of the insurance. It’s worth to check the cost of the replacement before contact the insurance.