What is Alta Vista Condotel Concept?

Alta Vista Condotel is a condominium - hotel project offered for purchase to be owned by individual owners who have an option of renting it out as a hotel suite when not in use, which will be managed by a professional hotel management operator.

Alta Vista Condotel offers fully-furnished units with complete amenities, facilities and services similar to a commercial hotel resort. Owners of Alta Vista condotel unit may produce rental revenues, making the ownership of a unit an income-generating investment for them.

How does Alta Vista Condotel Operate?

Alta Vista, upon condotel operation and commercialization, will generally operate like a resort-hotel. Individual owners may use their condotel units, however, it is limited only to a certain number of days for an entire year if their unit is enrolled under rental pooling.

Condotel units that are enrolled under rental pooling will be managed by a professional condotel/hotel management operator that will handle bookings, reservations and other services.

Unit owners need not worry about maintenance, housekeeping and other concerns or problems common in conventional leasing. On the other hand, owners who do not choose to enroll their units under rental pooling may use their units as a vacation home or for residential purpose.

Who will operate Alta Vista upon hotel operation and commercialization?

Alta Vista shall be managed by a professional hotel management operator that will be determined later on. They will be in charge of marketing Alta Vista as a resort-hotel, bookings and reservations, maintenance of the property and operation of hotel services such as housekeeping, food and beverage and concierge.

How can my unit be qualified to enroll under the Lease-back Program (rental pooling?

Upon turnover of Alta Vista condotel unit, they may immediately lease-back their unit to the hotel operator.

What is the minimum period of having Alta Vista condotel units enrolled in the lease-back program?

The minimum period you can have your unit enrolled in rental pooling is five (5) years.

How many days in a year can I use my condotel unit for personal use? Is it Free?

Unit owners may use their condotel units for fifteen (15) days a year. Unit owners will also have to pay 50% of the regular rental rates. However, your payment will be included in the computation for rental revenue share and will be deducted on your monthly rental income.

If a unit owner uses his unit more than the allowed number of days in a year, how does this affect their share in the rental income?

The unit owner will have to pay the regular rental rates when they use their unit in excess of the allowed number of days. However, your payment will also be included in the computation for rental revenue share and will be deducted on your monthly rental income.

What will happen if the unit owner was not able to utilize his fifteen (15) day benefit in a year?

If their unit was rented out during their fifteen (15) day allotment, they will receive rental share if it was rented out during that period.

How does Alta Vista Condotel differ from Timeshares?

At a Timeshare Property, you are only a co-owner with a right to use the property for a certain period of time. When you own a unit at Alta Vista, you posses whole ownership of the condotel unit evidenced by a Condominium Certificate Title (CCT).

How does owning an Alta Vista Condotel unit differ from owning a condominium unit?

As an Alta Vista condotel unit owner, you are given the benefit to use the hotel and resort facilities, amenities services and the privilege to earn from your investment. Housekeeping, maintenance, security and hotel operations are handled by a professional hotel management operator.

How does the Lease-Back Program Work?

Alta Vista will follow a percentage sharing of 30% for the unit owners and 70% for the hotel operator. Unit owners may receive monthly income based on the size of their unit regardless of whether said unit was leased or not. This is because Alta Vista will pool together its entire total income from rental operations and distribute this to unit owners according to the percentage sharing based on gross income

Are there any Association Dues or Rental Management Fees to be paid once the condotel unit is enrolled under the Lease-Back Program (rental pooling)?

There are NO Association Dues or Maintenance Fees to be paid once a condotel unit is enrolled under rental pooling by the unit owner. The condotel/hotel operator shall take care of the association dues, maintenance and security of their investment.

Are there additional expenses/fees a unit owner must pay upon enrollment in the Lease-Back Program?

A joining fee is required to be paid by the unit owner upon enrollment to rental pooling. The joining fee will be determined later on by the condotel/hotel operator. The unit owner must also pay for the unit amenities (kindly refer to Alta Vista pricelist)

If repairs are needed to be done in the unit of the owner, will it be shouldered by the condotel operator?

Only minor repairs shall be shouldered by the condotel/hotel operator

What are the other expenses to be paid by the unit owner upon purchase of a condotel unit?

Miscellaneous Fees (title transfer, documentary stamp tax etc.), Real Estate Property Tax and Insurance shall be on the account of the unit owner.

Can unit owners and guests cook inside their unit?

If enrolled under rental pooling, guests cannot cook inside their units. However, if unit owners do not enroll their unit under rental pooling and intend to use it for long-term residential purpose, it is their prerogative to cook inside their unit.