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How does owning a condo-hotel residence differ from owning a traditional vacation apartment or condominium?
As a condo-hotel owner you are privy to the opportunity of using the hotel and resort amenities. At a normal condo project or vacation apartment site you have to find things to do with your time and plan a vacation within your vacation. At the Golf Suites at Cypress Bend you are in the heart of our beautiful championship golf course and resort. In addition, there is no worry or hassle involved in a condo-hotel unit. Housekeeping, maintenance, and even inspections are handled by the management team at Cypress Bend Resort if your unit is entered into our Optional Rental Program.
How do condo-hotels differ from timeshares?
This is not a timeshare. You possess whole-ownership in a Cypress Bend Golf Suite. At a timeshare vacation destination you are a very small owner with only a right to use. When you own a Golf Suite at Cypress Bend you are the only owner and receive an actual deed to your property. Additionally, you can use your vacation home whenever you like and as often as you wish whereas timeshares normally offer only one week of usage per year.
Who is buying hotel condominiums?
Individuals interested in worry-free affordable vacationing to destinations that are surrounded by the kind of atmosphere and entertainment they enjoy. People examining the condo-hotel concept are also interested in an entity that could appreciate in value and potentially pay for itself in their portion of rental revenue from thin unit when they are not using it.
Is there any reason why a buyer should purchase a condo-hotel unit today rather than waiting for a few months or years?
First, you should want to take advantage of the mortgage rates available at this time. Second, the potential appreciation could put units at Cypress Bend at a much higher rate of sale in the future which will increase the cost of your unit. Further development may spur this as well. Lastly, you will want to start taking advantage of your new vacation home as soon as possible.
When was the structure built?
It was completed in early 2003.
How long has the building been open and rented?
It has been open and rented to hotel guests since February of 2003.
What are the future amenities coming to Cypress Bend Golf Resort?
We plan to add amenities such as tennis courts and new condominium suites as well as start construction on a marina area. Also, there are plans to build a new pavilion area at the conference center portion of the resort for large family gatherings, parties, conventions, weddings, and additional outdoor recreation.
Will any future amenities be available to Golf Suites owners?
All the amenities will be available to Golf Suite owners who participate in corresponding memberships. (i.e., if you opt to be a member of the Cypress Bend Golf Club or enter your unit in the Optional Rental Program you are entitled to membership's privileges even as those privileges increase)
What are the plans for future condominium development at Cypress Bend?
In the near future there are plans for the development of an adjoining building with 14 additional Golf Suite units. The Real Estate Development office at Cypress Bend plans to build approximately 100 more condominium units over the next five years.
Will there be smoking units in the building?
Currently all the units are being rented as non-smoking units. Owners may designate their units as smoking units.
Do I have to buy a club membership to use the resort facilities as a Golf Suite owner?
Yes and No. You must either be a guest of the Cypress Bend Golf Resort and Conference Center or a member of the club to access amenities such as the indoor/outdoor swimming pool. However, if you choose to enter your unit into the hotel's Optional Rental Program you will receive a complimentary social membership to the Cypress Bend Golf Resort where all initiation fees and dues are waved for one year. You may of course upgrade your membership to include amenities such as golf or buy a membership separately if you do not choose to enroll your condo into the Optional Rental Program.
What privileges do guests in our condominium have to the facilities at the resort?
If the guest is at your invitation they have the same rights and privileges that you have when you visit your unit. If you have entered your condo in the Optional Rental Program and the guest is paying to rent your unit they have the same rights and privileges any other hotel guests.
How will the management decide which condo to rent and how often?
The Manager maintains a reservations system and the owner agrees to abide by that system. The Manager agrees to rent the unit whenever possible. The Manager does not make any representations as to the level of rental occupancy and/or rental income for the unit. Location, view, and other factors such as smoking designation may affect the occupancy of the unit.
Must I be a member in good standing with the Golf Suites Home Owners Association to be in the rental program?
Yes. All units in the building will belong to the HOA and all members therein who intend to place their units in the Optional Rental Program must remain in good standing with the association.
Can I change the furnishing in my unit and still participate in the Optional Rental Program?
Yes. You may change the furnishings completely or in part in the interior of your condominium. However, the new furnishings as well as any additions that may be replacements later must meet with standards approval by the management to insure your suite remains in the rental program.
What standards most I adhere to if I want to change my furnishings and remain in the Optional Rental Program?
You can obtain a complete list of standards from the management office at Cypress Bend Resort. It will include a list of basic amenities which were furnished and included for each unit when you bought your condominium. It w.i11 also include steps for having your new additions or furnishing replacements assessed.
Who inspects to insure these standards are met?
The units will be inspected by a member of the management team at Cypress Bend Resort.
How long do I have to correct if the situation if the standards are not met?
You will be given a grace period of thirty days to comply with any changes the management assesses must be made to your unit in order to keep it in the rental program, However, it may or may not be rented during these thirty days. The severity of the offense to standards will be evaluated by the management.
What happens if I choose not to adhere to these standards or corrective actions requested by the management?
You will not be able to maintain your unit in the Optional Rental Program.
Will housekeeping service our unit each time we depart?
If your unit is placed in the Optional Rental Program, housekeeping will be available to you immediately following your stay for a small departure fee which will be included in your monthly statement.
Will there be any additional housekeeping charges if we choose to smoke in our unit?
No. There will not be any additional charges but we will record your condominium as a smoking unit which may or may not affect its rental.
Will there be other units made available for owners when they want to make a reservation but their unit is already occupied?
In a case like this every effort would be made to move the person staying in that owners condo to another unit and make room for the owner. In some cases this might not be possible. Where this would not be possible (except when sold-out night/nights were in question) another unit would be made available for the owner.
What services are available for my unit if I am not interested in the Optional Rental Program?
The same services of housekeeping and maintenance are available to each unit's owner for a contracted price per service.
What are the Home Owner's Association dues and what do they include?
The HOA dues will be collected on a monthly basis. These dues are established to manage, operate and maintain the landscape, exterior of the buildings and common areas of the Condominium.
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