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Topics:
| Resort Rental Program |
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The Sands is operated as a luxurious all-suite resort hotel with all amenities. Purchasers have the opportunity to earn substantial rental revenue through the program.
The Management Company, Oceanside Marketing Corporation, has made a substantial commitment to the rental program including the development of the main lobby & administration center, the restaurant facility, the laundry facilities, gym, hospitality suite, spa rooms and staffing areas. These facilities have been constructed from the onset of the project to enable the resort to portray an exclusive upscale image through offering a high level of service and amenities expected of a first class resort.
As detailed in the Maintenance & Rental Management Agreement, the owner receives 60% and Oceanside Marketing Corporation receives 40% of the gross rental income generated. In addition to Oceanside's investment in buildings and equipment for the on-site amenities, it presently provides the following services:
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Marketing & Administration of the Resort |
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Daily maid service (including laundry services) |
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Lobby and front desk services |
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Room checks |
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Reservation facilities |
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Hotel telephone system |
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Guest transfer to and from airport |
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Toiletries |
Please refer to Maintenance & Rental Management Agreement for specific details.
| Tax in the Turks & Caicos Islands |
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There is no income tax, capital gain tax, property tax, inheritance tax or corporate tax in the Turks & Caicos Islands. However, there is a one time Stamp Duty on the purchase of real estate in the amount of 7% of the purchase price (less furniture) and is payable to the Government at time of closing. The rate will go up to 9.75% January 1, 2004
| Monthly Strata Corporation Fees |
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Strata Corporation fees are based on the suite's proportionate area of the total area of all buildings constructed. The fees are estimated using historical resort property data and are not guaranteed. Strata Corporation fees are estimates of future expenses of maintaining the common areas and include such things as landscaping, pool maintenance, building, exterior building maintenance, reserve fund, etc.
| Suite |
Sq.Ft. |
Monthly Fees |
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| The Gecko Suite |
979 |
$440 |
| The Meridian Suite |
1,033 |
$440 |
| The Caribbean Suite |
1,285 |
$570 |
| The Columbus Suite |
1,644 |
$700 |
| The Grand Caribbean Suite |
1,900 |
$830 |
| The Colonial Suite(s) |
1,684 |
$740 |
| The Governors Suite |
2,685 |
$1,140 |
| The Chameleon Suite |
1,789 |
$790 |
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Note: Property Insurance (hurricane & flood) is extra and is currently $1.45 per sq. ft. per year. The above are estimated monthly Strata fees and are based in accordance with the suite's entitlement allocation, subject to change.
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