Owners Rental Pool Frequently Asked Questions
Do I have to participate in the rental program ?
The Rental program is optional, an owner may decide on a yearly basis if
they wish to participate.
How often may I occupy my own unit?
There is no limit on the amount of time an owner may use his unit, including
guest staying with the owner. Owners are requested to give a 90 day
advance notice in peak times.
What if my unit is rented and I still want to visit?
We will be reserving unit types; not assigning particular units until check in.
If all of your unit types are rented, we will do our best to relocate the
renter to a different type unit, and or assign you another unit.
Are there any charges when I stay in my unit?
Owners staying in their unit may purchase hotel services (house keeping) a
la carte a mandatory departure cleaning will be charged, or choose to pay
a daily rate of 20% of the room rate for full hotel services. Owners and their
guest will receive a discount on all hotel amenities, including food and
beverage.
Do friends have to pay if they stay in my unit?
For guests who are not immediate family and are referred by the owner to
stay in the owner's unit without the owner also staying, a daily rate of 20% of the
room rate for full hotel services will be charged.
What is the split with the Management Company?
Net Rental Income (NRI) will be split 70% to owners, and 30% to Mak Nuk
Village; NRI being defined as the net room rates received by Mak Nuk Village
after adjustment for Credit Card fees and Travel Agent commissions (if any).
Additional hotel revenues, including food and beverage, are not included in
the NRI.
Where is Mak Nuk Village’s 30% of the rental going?
- Marketing of the rental pool including marketing materials, advertising, websites, and public relations
- Reservations including phones and Internet websites
- Staffing including front desk, reservations, and administration
- House keeping staff and supplies
- 24 hour security
How do I know that my unit will be booked as frequently as other
units?
Mak Nuk Village’s Rental program will be a Rental Pool. All units types will
be assigned a certain point value, depending on size, location and rental
rate. If the unit is available for rent, then they share in the the rental.
Can owners furnish their own unit?
In order to promote the value and image of Mak Nuk Village, we have
included custom furnishings in the purchase price of all condos. Owners may
add to the furnishings, and in some cases we can allow substitution credit in
certain items. An example is we have an owner who wants to install a 60 inch
LED HDTV, we are allowing him a credit for our standard 32 inch LCD HDTV.
The main principle is that all renters are assured the quality we advertise, so
additions must be an improvement or upgrade from standard.
What about wear and tear to our rental unit?
The initial FF&E package (Furniture, Fixtures and Equipment) and OS&E
package (Operating Supplies and Equipment) will be supplied as part of the
purchase of a condo unit (all condos are completely furnished). A reserve
fund of 5% of the total NRI will be deducted from the owners 70% return
and held in reserve for them to use in the future in replacing items from
the FF&E and OS&E package. If an owner decides to remove their unit from
the rental pool, then their portion of the reserves will be returned to them.
The more an owners unit is in the available pool and sharing in the rental
income, the more of a reserve they will accumulate. For example, in 5 years
when we want to replace the furniture the owner who has made his condo
available 11 months of the year will have a larger reserve than the owner
who only made his available 6 months a year.
How is the owner accounting managed?
Each owner will have an internal in-house account set up for them, a
quarterly statement summarizing the rental activity for the unit during the
quarter will be emailed to the owner and remitting any amount due to the
owner. At this time we can make direct bank deposits into USA Bank of
America accounts, business check drawn on Bank of America, bank deposits
into Mexican financial institutes, (as Mexican property owners you are
allowed, and we can help, set up Mexican accounts, with debit cards to
access your funds). Wire transfers elsewhere can be done at cost.
What costs am I responsible for?
Owners are responsible for paying their Owner's association fees and utilities
for their unit as well as any other charges made by the Owner or Mak Nuk
Village on behalf of the Owner.
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