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Alta Vista, Boracay - Frequently Asked Questions

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Alta Vista, Boracay Frequently Asked Questions (FAQs)

What is Alta Vista de Boracay's two-package offering?

In buying a unit at Alta Vista de Boracay, you have two options. You can choose between a Residential or a Condotel unit.

1. Residential - This unit is packaged as regular residential property and is for the exclusive use of the buyer.

2. Condotel - If enrolled in the Leaseback Program, owners can stay in their unit for free for 15 days each year, but for the rest of the time their unit will be available as a hotel suite for guests. Should the owner wish to use the unit for more than the allotted 15 days, he has to pay the regular room rate for each additional day.

What is the Leaseback program?

Under the Leaseback program, your Condotel unit will become part of a rental pool of units that will be identically furnished and rented out on a daily, weekly or monthly basis and will be marketed and managed by a professional hotel management operator. Membership to the program is on a five-year contract period and may be renewed subsequently.

How does the unit owner earn from the Leaseback program?

The source of income is derived from room revenues. 70% of gross income will go to the operator, 30% to the rental pool of unit owners. Each unit owner included in the pool shall be entitled to a proportionate share of the 30% depending on his unit area. Gross income will be distributed on a monthly basis.

Are there Association Dues or Maintenance Fees for units enrolled under the Leaseback program?

No Association Dues or Maintenance Fees need to be paid for units registered under the Leaseback program. These will be shouldered by the Hotel Operator.

What are the advantages of owning a Condotel unit?

1. Income obtained from the Leaseback program helps you pay for your monthly amortization.

2. You'll get continuous income whether your unit is actually rented out or not because of the proportionate distribution of income from Rental Pooling.

3. Worry-free upkeep of the unit because it will be maintained by the Condotel's housekeeping.

4. You get whole ownership of the Condotel unit as evidenced by a Condominium Certificate of Title (CCT).

Developer: DMCI Homes

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