Juan Dolio - South Beach of the Caribbean !!!

[johne]

Here are some of the things you need to know about rental pools:
1)How much is the % being paid to the management co.
2)Does the managment company collect for damages, theft of items (albeit how small) or do they charge back the owner? (Because the rental apt. in the pool doesn't have a coffee maker for example they will say we can't rent it)
3) What kind of promotion does the managment co. do in order to promote your building? What is the protion budget?
4) How big is the staff of the Mangement co? During what hours do they management. Do they accomodate late arrivals. How do they handle complaints. Repairs? Change the linens and clean the apt.
5) What gets you apt. rented before the next guy? Why does his have a greater occupancy level? (payoff to management co.)
6) How do I know when my apt is rented? How do I know if it is rented and I am NOT receiving my rent. (Put in the hands of the agent.)
7) How do I know this is the best management co. for the property? What other buildings do they do?

*8) Last but not least---how do I prevent getting screwed??

BTW-how do I know all this stuff? I PAID for my education!
john

[frank recktenwald]

Originally Posted by johne

Sorry to hear that you had problems with your management company. Plse let me answer your questions so you'll see how we do it at METRO

Here are some of the things you need to know about rental pools:
1)How much is the % being paid to the management co.
We charge 30%
2)Does the managment company collect for damages, theft of items (albeit how small) or do they charge back the owner? (Because the rental apt. in the pool doesn't have a coffee maker for example they will say we can't rent it)
Off course this can not be charged to the owner and any theft or damages are collected from the renter. What we're going to do now is also supply the linen, towels, cuttlery, pots and pans and the dishes.
3) What kind of promotion does the managment co. do in order to promote your building? What is the protion budget?
Promotion is done through the internet and also by contacting tour operators worldwide and other possible markets and off course starting on Monday also on DR1
4) How big is the staff of the Mangement co? During what hours do they management. Do they accomodate late arrivals. How do they handle complaints. Repairs? Change the linens and clean the apt.
Something very important in our industry is service meaning that we have staff 24/7 to provide the service that our clients desire. Me personally I work 7 days a week and am on call 24/7
5) What gets you apt. rented before the next guy? Why does his have a greater occupancy level? (payoff to management co.)
You always have condos that rent faster than other ones due to location in the building, view or floor and the type of furniture. Pay offs ARE NOT ACCEPTED
6) How do I know when my apt is rented? How do I know if it is rented and I am NOT receiving my rent. (Put in the hands of the agent.)
We give monthly statements to the owners and keep copies of the receipts in their files
7) How do I know this is the best management co. for the property? What other buildings do they do?

*8) Last but not least---how do I prevent getting screwed??
By dealing with honest people

BTW-how do I know all this stuff? I PAID for my education!
john

Trust this will have explained a little bit how we work here at METRO

[STEVE G.]

Originally Posted by frank recktenwald

Trust this will have explained a little bit how we work here at METRO

All well and clear answered , thanks Frank ... just is missing 7) How do I know this is the best management co. for the property? What other buildings do they do? ... there is no other ''management co.'' in the area ... at least not for now

[johne]

I meant my questions to be just a general guide when putting a property in a "rental pool". Anyway, thanks for the response.

[STEVE G.]

Santo Domingo.– Costa Blanca, the billion-dollar project of renowned Dominican developers Group Metro, held its launch event with two days of spectacular celebrations in Santo Domingo and Juan Dolio. The project was received by the Dominican Republic and international press with great enthusiasm and unquestionable success.

Costa Blanca, an impressive undertaking that will span across 300 acres of land and coastline in Juan Dolio, will encompass a mega-yacht marina, marina village with retail and commercial space, ten condominium towers, 52 private villas, a tennis village, clubhouses for both tennis and golf, a secured, private beach, and the first signature Greg Norman PGA golf course in the country.

The highly-anticipated development will set new standards of luxury in the area, and will bring forth a modern spin on private, high-end communities. With top architects and designers at the helm, residents will find villas with open-air spacing to showcase their wrap-around pools, condos where each and every owner is afforded unobstructed water-front views, and an assurance that every aspect and step of the project is environmentally sound and positively affects the region...http://www.dominicantoday.com/dr/tou...les-in-one-day

[Fernandez]

Originally Posted by Fernandez

Glad to know your running the rental pool.
At the same time, you must have knowledge on the sales side of the current properties in the area/ Las Olas etc., and resale values. Perhaps you can enlighten me as to the recent/historical resales of units in the Costa Del Sol, and time on market etc...
This information would be very helpful, and I undserstand that these sales are conducted throught the Real Estate office of the Metro, so could you please provide some information.
Thanks,

i WOULD APPRECIATE ANY INFORMATION / RESPONSE TO THIS QUESTION, AS IT SEEMS THAT THERE IS NOT DATA AVAILABLE, AND THUS ONE SHOULD QUESTION THE VALUES/PRICES BEING REQUESTED FOR PROPERTY AND "BUYER BEWARE" UNTIL NUMBERS ARE AVAILABLE.
CLEARLY THERE ARE UNITS BEING SOLD, BUT I WOULD EXPECT AND ALMOST CAN ASSURE, AT QUITE BELOW INITIAL EXPECTATIONS... PERHAPS AT A PROFIT, BUT NOT WHAT WAS ORIGINALLY PROJECTED.... AND AT THESE NEW PRICE/MTR, CHANCES ARE SLIMMER....
I CONTINUE TO REQUEST SOME DATA/COMPARISONS, AND THE LACK OF ANY DATA SUGGESTS THINGS MIGHT NOT BE WHAT THEY APPEAR TO BE.

[STEVE G.]

Sounds like someone MUST TO RESPOND TO THIS QUESTION NOW !!! ...

[frank recktenwald]

Originally Posted by Fernandez

i WOULD APPRECIATE ANY INFORMATION / RESPONSE TO THIS QUESTION, AS IT SEEMS THAT THERE IS NOT DATA AVAILABLE, AND THUS ONE SHOULD QUESTION THE VALUES/PRICES BEING REQUESTED FOR PROPERTY AND "BUYER BEWARE" UNTIL NUMBERS ARE AVAILABLE.
CLEARLY THERE ARE UNITS BEING SOLD, BUT I WOULD EXPECT AND ALMOST CAN ASSURE, AT QUITE BELOW INITIAL EXPECTATIONS... PERHAPS AT A PROFIT, BUT NOT WHAT WAS ORIGINALLY PROJECTED.... AND AT THESE NEW PRICE/MTR, CHANCES ARE SLIMMER....
I CONTINUE TO REQUEST SOME DATA/COMPARISONS, AND THE LACK OF ANY DATA SUGGESTS THINGS MIGHT NOT BE WHAT THEY APPEAR TO BE.

The condos that I personally sold went for a very good profit. Some owners have sold for less profit but overall owners make some nice profit when they sell.
Fernandez I've send you a PM last week asking you to call me but you didn't. If you want anymore information about the re-sales contact our sales office at 809 526 1200

[johne]

Originally Posted by frank recktenwald

The condos that I personally sold went for a very good profit. Some owners have sold for less profit but overall owners make some nice profit when they sell.
Fernandez I've send you a PM last week asking you to call me but you didn't. If you want anymore information about the re-sales contact our sales office at 809 526 1200

Why not in a public forum where you talk about the positives?
I too am interested-but if you prefer (for what-ever reasons you have) I will be at the Embassy Suites for a few days and we can have a drink together.(June 22)

[frank recktenwald]

Originally Posted by johne

Why not in a public forum where you talk about the positives?
I too am interested-but if you prefer (for what-ever reasons you have) I will be at the Embassy Suites for a few days and we can have a drink together.(June 22)

Sounds great, I'd love to sit down with you and discuss things.