We have compiled a list of the most frequently asked questions about ownership of townhomes at Elephant Tree Beach Resort and Villas, Tapestry Collection by Hilton. If you still have any questions, please call us and find out more about our Caribbean Townhomes.

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Q. What are some of the benefits of owning a villa in a franchised resort?
Villas in a resort offer a worry-free and hassle-free way to own a vacation home. The hotel brand ensures that the highest quality of workmanship and furniture, fixtures, and appliances are adhered to comply with their brand standards.  When not using their residence, individual owners also have the option of placing their vacation home into an organized rental program to help offset operating expenses. Homeowners enjoy a luxurious vacation home with extensive services and amenities while the onsite property management take care of the vacation rentals.
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Q: Are the furniture, fixtures, and appliances included in the purchase price?

A: Yes. Your Villa  comes fully furnished and all furniture, fixtures, and equipment (“FF&E”) and operating supplies (“OS&E”) have been approved by the hotel to be in compliance with Tapestry Hilton brand standards. Owners wishing to place their residences in the rental program will be required to have their residences equipped with the included Hilton Approved Turnkey Furniture Package.  

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Q: What are the amenities?

A: There will be restaurants, bars, fitness center, conference or event rooms, walking paths, water sports center, pools, valet parking, concierge services.

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Q. Are there pool and beach restrictions?

A: Both the pools and beaches are strictly for the owners and renters of the project.  Limits will be placed on number of friends of owners or renters will be in place to avoid any crowding.

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Q: How many parking spaces come with each unit?

A: There is one reserved parking space in front of each villa, and additional parking is available and valet parking will also be available.

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Q.  What are my ongoing ownership costs through the HOA?  

A. The HOA will be charging three separate fees to be used. One for covering operating expenses like maintenance, security, landscaping, insurance, etc.. Two to provide a fund to building to cover long term maintenance needs such as painting, roof replacements, windows and doors, etc.. Three a small fee for optional uses by the Board of Directors of the HOA.

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Q: Are repairs and maintenance handled through Home Owners Association (HOA)?

A: The HOA will be responsible for landscaping and exterior maintenance of the villas. The interiors are the responsibility of the villa owners, however repairs can be arranged through a private company contracted by the HOA

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Q: Is there security?

A: There will be 24 hour security on site, restricted vehicle access, and night time walking patrols.  In addition there will be street and pathway lighting throughout the site.

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Q: What if there’s a concern about noise levels?

A: All units are built with solid concrete firewalls between them which mitigate noise levels between unit sounds. The resort has HOA rules regarding quiet times on property.

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Q: Are mortgages available?

A: Mortgages are available for both local and foreign buyers through ANSA entities, and other regional banks will make them available as well. ​​

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Q: Am I required to participate in the rental program?

A: No. The professionally managed rental program is optional and independent of the Homeowner’s  Association. The rental program is flexible and completely voluntary.

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Q: Are there restrictions on leasing?

A: All rentals must go through the management company.  This is because the renters will be enjoying all the services of the resort.

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Q: Are the revenues pooled? If not, how do you allocate to renters to be fair to all owners?

A: Rental revenues are not pooled. Each residence will have a separate account for rentals booked into it, and each owner’s rental income will be directly tied to the number of days their specific residence is rented. Every effort is made to ensure that rentals are fairly shared among each residence type accounting for variability due to guest requests, unit availability, and other factors. Rental revenue is naturally affected by the timing and frequency of homeowner use.

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Q. What are the splits between owner and resort management?  

A. Breakdown of complete package of costs and services are available, but owners will receive roughly 50% of gross rentals. We do highly recommend that owners set aside 5-10% of their fees for future maintenance and replacements of FF&E items.

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Q: How often are statements distributed, and when is the income distributed?

A: Monthly statements will be issued by the hotel showing rental revenues for your residence and the condominium will issue monthly association statements. Income in the currency of your choice is distributed monthly and will be wired to your bank.

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Q. Who covers damages to my residence, or if items are stolen?
A: Whenever possible the hotel operator will use the guest’s credit card to charge for any damage or missing items.​

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Q. Do I need to purchase insurance?  

A. We suggest that you purchase rental insurance for any damages to the interior of the villa, while exterior insurance is the responsibility of the HOA.

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Q: Who is on the HOA Board of Directors?

A: The developers will appoint the members of the board until such time as 80% of the villas have been sold.  At that time a new board will be put in place and selected by shareholders.

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Q: Will my residence be pet-friendly?

A:Yes. As the owner, you are welcome to bring your pet with you during your stays. However, please note that having a pet-friendly residence may limit its rental appeal, as some guests prefer accommodations that have not housed pets.

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Q: What is the term of the Rental Management Agreement, and what happens if I sell my residence before the term expires?

A: The initial term is one (1) year. If you sell your suite before the expiration of your RMA, your future buyer will have the option to either assume the agreement or opt-out. If the new buyer elects to opt out, they must honor all reservations in place at such time.​​

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Q: How many nights each calendar year may I stay in my residence?

A: You have the option of using one night to 365 nights per year.

 

Q: What will be my housekeeping fee?

A: Villas participating in the rental program will be subject to a $200–$300 housekeeping fee for a standard check-out cleaning to ensure the unit is properly prepared for the next guest. While in residence, owners are not required to use housekeeping services, but they are available upon request.​​

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Q: What happens when you sign a contract to buy then change your mind?
A: If construction has started, a loss of deposit is likely but no further costs as long as the unit has no progressed past the first floor. If the contract is cancelled before construction starts, the deposit will be returned minus and legal costs involved with drawing up the sales contract.​

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Q: Is there an on-site management company?
A: Yes, the resort management company is on site 24 hours per day, and the HOA will also have an office on site.

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