Ownership & Management Structure for Existing Beach View
- The development is owned by a holding company which issues one residential share per condo. Each residential shareholder will be entitled to exclusive possession of the condo unit to which the residential shares apply.
- The structure of the company provides for a reduction in the annual land tax & certain benefits applicable to hotel operations.
- Any future sale of the unit is by a sale of the shares. Under Barbados law sale of shares attracts transfer tax of 2.5% & stamp duty of approximately .5%.
- An owner must enter into a rental management agreement with Beach View Property Ltd. This company has been established by the developer with the prime purpose of managing the property as a hotel. All management, reservations & accounting support services will be supplied as part of the agreement.
- All units are sold fully furnished to ensure uniformity of contents. The property is fully serviced to include housekeeping services in all rooms, 24 hour security & regular pool & garden maintenance.
- Each owner must make his unit available for rent for 9 months of the year but has complete use of the unit for the other 3 months.
- All expenses & revenue are pooled thereby offering a fair distribution of net revenues between all owners. No one unit will be favoured over another.
AVAILABLE UNITS FOR SALE
|Building||Unit #||Floor||Sq. Ft.||No. of Beds||Price USD|
Prices include all furnishings. Prices are subject to change without notification.