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TURKS AND CAICOS INVESTMENT PROFORMA
Ocean View one bedroom - $269.000
Rental and expense Projection
| AVERAGE RATE PER NIGHT | 55% OCCUPANCY | 60% OCCUPANCY | 65% OCCUPANCY | 70% OCCUPANCY |
| Nightly income $299 | $60.024 | $65.481 | $70.938 | $76.395 |
| Maintenance | $3.600 | $3.600 | $3.600 | .$3.600 |
| Use fee | $11.041 | $12.845 | $13.049 | $14.053 |
| Management | $18.007 | $19.644 | $21.281 | $22.918 |
| Average Net Rental | $27.376 | $30.192 | $33.008 | $35.824 |
| Two Week Bonus | $4.186 | $4.186 | $4.186 | $4.186 |
| Gross Net-Year | $31.562 | $34.738 | $37.194 | $40.010 |
Assuming 55% occupancy at $299 per night, the gross income would be $60.024 per year
After deducting the estimated expenses for maintenance, use and management fees the gross net return is $27.376 per year. The use fee and management is only charged when the unit is managed.
Gross net per year - including the two free weeks use - is $31.562 or a 11.7% return per year on the $269.000 purchase price
Assuming 30% down, the purchase price with appropriate under construction discount will be $269.000 and the down payment would be $80.700.
10 Year interest only mortgage (188.300) at 8% interest only would be and annual interest payment of $15.064.
The above proforma does NOT include annual appreciation which has been rising steadily at between 10-20% per year over the last 8 years. The rental incomes used above are based on $299 per night - 32% less than the 2003/2004 annual rental rate
The $31.562 less the interest payment of $15.064 p.a. shall nett $16.498 p.a. or 20.4% based on the $80.700 invested (Cash actually in)
MANAGED RENTAL PROGRAMME FOR YOUR APARTMENT
OPERATION OF THE RENTAL POOL PROGRAMME
All unit owners at Caicos Beach Club Resort and Marina will have the option to place their unit in the Private Lodging Plan. Owners who elect to participate in the plan will derive Lodging Revenue while still retaining the option to use the Lodging facilities through the Club Membership in Caicos Beach Club.
Caicos Beach Club resort and Marina will be operated as a Resort hotel, however, the one difference between Caicos Beach Club Resort and Marina and your local Hotel is that the net proceeds from Lodging fees go to the Unit Owner who placed the unit in the Lodging Plan and not to the Hotel owners.
THE PRIVATE LODGING PLAN WILL FUNCTION AS FOLLOWS:
Gross Lodging fees for a quarter are received
Gross expenses for the quarter are deducted
Net Lodging Income is placed in the private Lodging Plan Account and divided among all Unit Owners in the Plan according to their respective membership interests.
OPERATION
OF THE OWNER BONUS PLAN
Caicos Beach Club resort and Marina´s goal is to maximise your enjoyment and help you make the very most out of your ownership. In an effort to meet these golas we offer our owners the Owners Bonus Programme.
Each owner who places their Personal Residence in the Private Lodging Plan will receive in addition to the net Lodging fees, Two free Bonus weeks of usage per year in the Resort Residence type purchased with no maintenance fees or use fees due. While the owner is enjoyed these two free weeks, their unit remains in the lodging plan earning money!
If the owner desires to stay in a larger Resort Residence during these Two Free Weeks usage, the owner shall pay the difference between the posted rack rate of the larger Resort Residence and the Resort Residence owned.
In Addition, the resort Residence owner may call at any time within 14 days of when they would like to come and if the Resort is less than 70% occupied, the owner may reserve any size unit available with the only charge being a housekeeping fee and a nominal administrative fee. Also, if the owner desires to stay additional time during the year, the owner shall pay 50% of the posted rack rate of the Resort Residence size reserved and will have their resort residence in the Lodging plan earning full revenue
INVESTMENT INFO ADVANTAGES OF A 99 YEAR LEASE
About the Turks and Caicos Islands
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