Longboat Key Club & Resort Owner Rental Program

Longboat Key Club & Resort Ownership/Rental Program Information

ü  Owner Holding Costs: Typically include condo association fees, taxes, & insurance. Cash is needed to purchase as most lenders will not approve a loan on this type of property.

 

ü  Guest Reservations- The resort handles the hard work! Your unit is rented out on a rotational basis allowing for equal usage amongst owners in the program.

 

ü  Owner Revenue: Owners enjoy approximately 50% of the nightly room revenue for their unit. Income payments are deposited monthly for the previous month’s rental activity less any required maintenance. 

 

ü  Owner Time: Owner’s usage and guests of unit owners are entitled to fourteen nights during the period of December 15 to April 30, plus fourteen nights from May 1 to December 14. This includes access to all amenities. No resort fees will be assessed during this time, housekeeping and departure cleaning charges do apply.

 

ü  Additional Time: If you want to extend your owner time, special rates have been established. These rates are equivalent to the lowest wholesale rate available each season and are based on availability and unit type (typically 30-50% off advertised leisure rate). Owners are paid revenue on their own reservations!

 

ü  Renovations: The hotel has undergone renovations recently in order to keep up with the standards of the brand and industry. Please note that the hotel does have the ability to propose new updates and owners will be assessed accordingly as needed.

 

ü  Cleaning/Maintenance: As an added perk of the rental program, owners have access to regular housekeeping and on-site engineering. Any repairs inside the unit will be billed out of the owner’s rental revenue. Exterior repairs are typically handled by the condo association.

 

ü  Unit Rental Management Agreement: Must be signed by the Owner and Rental Manager. Sample copy can be attained by request, will need to be verified for correctness.

Robin Nystrom is currently the Owner Liaison at the Resort and can assist with questions regarding the unit rental management agreement any other related rental program questions.

All information is deemed reliable, but not guaranteed and is subject to change without notice.

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