What is the Concept ?
What am I Buying : You are purchasing a 1/13th Fraction, which equals FOUR weeks, in a luxury Hotel style development situated in prime location, moments from the Indian ocean.
The Rental Pool: ALL four weeks go into the rental pool. The Hotel operator rents out the rooms to tourists and you receive a proportionate share of the rental pool income. This is paid out to you on a quarterly basis.
When can I visit The Tides? All 4 weeks are rented out by the hotel operator and you, the owner, get the rental return from that, so if you wish to visit The Tides yourself, simply book in at the owner’s discounted rate (currently 30%) using some of the rental return to cover the cost of your stay. ONE quarterly payout from the rental pool should about cover a ONE week holiday and you will still have the rest to spend as you wish.
In this manner you could take TWO weeks holiday every year and still have about half of the rental income to spend. One of the benefits of this structure is that, in the unlikely event that you tire of Hermanus, you can use your rental income to buy holidays somewhere else too.
Of course in such a prime location, the Capital Growth at The Tides should be at the high end of the scale, so you get Rental Income, Capital Growth and Holidays….. for life!
Title Deed, NOT Shares : This is a true Fractional Title development. Each Tides Fraction will be registered in the Deeds Office, which means that it will have its own Certificate of Registered Title (Title Deed). There is NO intermediary shareholding company with other shareholders for you to contend with. Tides buyers own PROPERTY and NOT shares or timeshare.
Maintenance : All maintenance, servicing and refurbishment is covered by the nominal levy which is initially R500pm. Daily service of each unit will include linen, towels and general cleaning.