The villas at Elephant Tree Beach Club are being sold as part of a well-established Homeowners Association (HOA). Each villa owner will receive a 199-year lease for their villa along with shares in the HOA, allocated based on the number of bedrooms—two-bedroom villas receive two shares, while three-bedroom villas receive three shares.

​

Villa owners are responsible for the interior maintenance of their homes, while the HOA manages the land and exterior upkeep, including roofing, painting, doors, windows, and landscaping. Initially, the project developer will cover 100% of the HOA’s operating costs, which include landscaping, exterior maintenance, insurance, taxes, and security. As more villas are sold, these costs will gradually transition to HOA members, with the developer continuing to cover expenses for unsold villas. Once 80% of the villas are sold and ownership transferred, the developer will hand over control of the property to the HOA and its Board of Directors, elected based on shares held.

​

HOA Fees

Villa owners will contribute to the HOA through three distinct fees:

1. Operating Costs: A proportional fee to cover the day-to-day expenses of the HOA.

2. Reserve Fund: A set-aside fund for major future repairs, such as repainting and roof replacements.

3. Improvement Fund: A small fee to support enhancements like playgrounds, picnic tables, or community events.

​

Offsetting HOA Fees

The land designated for the hotel, restaurant, and surrounding commercial area will be leased to a separate company, generating significant lease revenue. Based on projected hotel operations, this lease income is expected to cover a substantial portion, if not all, of the HOA’s financial needs.