EarlBeam Realty is a subsidiary of the EarlBeam Group of Companies, established in 1992. EarlBeam Realty started out solely building for rental purposes, within commercial and residential space, but has since ventured into the sale of property assets.
With over 30 years experience, the company has developed reputable acclaim in residential and commercial design and construction. With partners from Spain, Italy, Germany, China, United States, Brazil and Turkey, EarlBeam has trade and development experience at every stage of the construction process.
What is the Earlments Hotel Apartment Model?
Earlments is a serviced apartment model that allows an individual to buy a unit, which is then leased back to Earlments Company Ltd. The unit is then managed and operated by Mantis (a member of the Accor Group). This arrangement assures owners of hassle-free lease income and professional quality upkeep and maintenance by Mantis. Here there are no gaps in income as rental revenue is assured at 11% per year for 5 years, with up to 3% annual asset value appreciation rate. The owner is assured of an exit or buy back at the end of the 5th year.
This model has several advantages when compared to apartment rental arrangements.
How does Earlments work?
Your serviced apartment will be managed by Mantis, a company dedicated to managing Earlments exclusively for its owners.
How does one become an owner at Earlments?
Pick your unit:
• Studio
• OneBedroomApartment
• TwoBedroomPenthouse
After selecting the unit, the buyer is required to fill a Reservation Form,
pay a deposit, and receive an Offer Letter, Sales & Purchase
Agreement and then the Lease Agreement from Earlments Company
Ltd. We suggest you go over these documents with legal assistance
before signing and returning them to us.
Lease Agreement
By signing the Lease Agreement, the buyer agrees to lease the unit back to Earl Heights Company Limited, where the unit becomes part of the hotel's assets and is managed as part of the hotel.
What are the terms of the lease?
The lease shall be for a period of (5) years.
Owners Association Fees
Owners association fees and expenses are integrated into the serviced apartments operating costs and will be deducted from Gross Room Revenue.
Can the owner live in the property full time?
No. As this is an investment model, owners are only allowed to use their unit for 14 nights per year. Owners are entitled to a pro rata number of nights, if the unit has been purchased after the start of the operational year.
Can the owner stay longer than 14 nights?
If the stay is longer than 14 nights, buyers are offered a 50% discounted
rate per night.
Which periods are considered peak?
The months of January, June and December, are what we classify as peak periods.
Owners or their guests, can stay and exercise their 14 nights outside of
these
periods to maximize return on investment.
Can you sell your unit?
Yes, after the 5th year, the unit will be bought back at
the full purchase price plus 15% in addition by
the developer.
Which extra cost will I need to prepare for?
-
Documentation (preparation of indenture & site plan)
-
Fee charges for registration of title documents with Lands
Commission and Land Title Registry (this excludes stamp duties which are paid directly to the statutory authority)
These fees in total amount to approximately $2000.
How long has this model been around?
Various fractional ownership models have existed in major resort destinations in Europe since the 1970's. New projects specifically designed for fractional ownership began appearing in the 1990s and have increased in number throughout Europe. It is a safe and trusted model.
How many days a year can I stay, in my fractionally owned property?
You can stay in a hotel apartment suite for 14 days a year, the same amount of time as if you were to own the unit outright.
The benefits of a serviced apartment model?
-
Youearnreturnsonyourunitwhetheritisoccupiedornot
-
Aprofessionalmanagementcompanyisresponsibleforthedayto
dayoperationsand marketingoftheunits
-
Thestandard,qualityandmaintenanceofyourunitiskeptasa
priority
-
Nohomeownerassociationfees
-
Youcanstayatthedevelopment14nightsayear,freeofcharge.The
stay can also be transferred over to guests. This is all throughout the 5 year investment period.
