The Lotus Terraces at Bang Por Beach Koh Samui Thailand

Property Management/Rental Program

From the outset, the Lotus Terraces infrastructure and conceptual layout was designed with one primary goal in mind; to address the concerns that the majority of owners have.

“Who will look after my investment and what returns will it generate?”

The concept we offer to each owner is our own Property Rental Program.

How does the program work?

Prerequisite

To join the Villas and Terraced Homes rental program, a property must be furnished with the interior packages offered or be of a standard equal to or above. This measure has been adopted in order that guests staying at the Lotus Terraces, consistently can be guaranteed the quality and service standards that we will be promoting.

Rental Pool Program

To provide each owner with a fair share of rental return, a rental pool program has been created. The program takes into consideration: the size of the participating units, their location, facilities offered, actual occupancies (the number of days units are rented out or have been occupied by their owners), and seasonality and of course, the rental rates for different seasons and special days.

  1. The year will be divided into three seasons as follows:

    Low Season Sept 16 - Oct 31, 2008 46 days 12.6%
    High Season Jan 6 - Sept 15, 2008 254 days 69.4%

    		Nov 1 - Dec 21, 2008 51 days 13.9%
    Special Holidays Dec 22 - Jan 5, 2008 15 days 4.1%


  2. All participating Villas and Terraced Homes are included in the rental pool.

  3. Within the pool there will be four sub-pools. Each pool will have a cluster of units, similar in size and location.

    • Pool No.1 Two Beach Front Villas, ie A and B
    • Pool No.2 Three Villas in the 2nd, 3rd row, ie C and E
    • Pool No.3 Three Villas in the 3rd and 4th row, ie G
    • Pool No.4 Five Terraced Homes on the deck, ie F and F1

  4. Each sub-pool will have its own rate band (published rates) based on the size and facility the units offer. There will be rates for each season.

  5. Each month all owners will be assigned a number of shares, equal to number of days in the month.

  6. One share will be deducted for any day an owner will have blocked his/her villa for personal use or any other reason, ie the villa was not available for the rental pool.

  7. Owners will equally share monthly proceeds generated from their rental pool, taking into consideration the number of days/shares owners have blocked their villa for personal use (as per previous point).

  8. The formula to be applied will be as follows:

    1) Total Proceeds of each Pool
    Total Net Shares (after deducting lost shares due to own usage)
    = Share Value per Unit
    2) Owners Net Shares x Share Value per Unit
    = Return of Investment for each Owner

Conditions:

Owners have the right to reserve their units well in advance for any time of the year. This is subject to availability, ie the unit has not been booked and confirmed by a guest.

To be fully benefiting from participation in the program, owners should have their units available for the rental pool for a minimum of 75% of the year.

Booking and Reservation Engine

The reservation engine will be internet based. Therefore the availability status of unit types within the rental pool can be viewed on The Lotus Terraces website. Owners and guests will also be able to make their reservations and deposit payments online or directly with the Reservation Office.

Performance Record

Owners will have password protected access to The Lotus Terraces website and be able to view the following online details relating to the performance of their own unit and selected information of their own and the overall rental pool:

  • Reservations, tentative and confirmed
  • Rental Rates
  • Occupancy status, month/year to date
  • (with and without owners own use)
  • Revenue, month/year to date
  • Owners return, month/year to date

Note: For transparency and comparison, owners will also have access to the occupancy status (with and without owner’s own use) for theirs as well as the overall rental pool performance.

Sales and Marketing

The Lotus Terraces has a small, dedicated and experienced administrative team with the responsibility to market and sell all Villas and Terraced Homes as part of the rental pool. This will be done through contracted travel agents within the region and Europe, be supported by the vast number of other marketing opportunities available, including GDS, local and overseas advertising as well as representation during selected travel fairs, if appropriate. Besides, there will be a reservation office within the development supported by a property management system. This will allow owners access to past and future booking status of their unit, the year to date occupancy of their unit as well as that of the same unit types and all other units in the rental pool.

Guest Services

We will pride ourselves for providing owners and their guests with the quality and service standards one would expect in any reputable luxury hotel. Responsible for this will be a team of well trained service personnel including maids, housemen, handymen, gardener, pool maintenance and supervisor, all under the sharp eye of an experienced manager.

Daily maid service, with a complete change of linens and toweling, replacement of lifestyle bathroom amenities, evening turn down service and “the small details” will ensure that guests will feel special, pampered and well taken care of.

Villa and Terraced Home Rental Rates

Rates for high and low seasons, as well as for special holidays will be reviewed annually and agreed on - for the coming year - with owners.

Rate recommendations made will be based on current and expected business trends, competitors’ pricing and performance, and feedback received from travel trade and guests.

Property Management Fees

The fee structure focuses on the objective of owners and management sharing success. That is, to manage the pool of Villas and Terraced Homes as cost effectively as possible, without sacrificing quality and standards.

To assure that owners receive cost effective management and maximum returns, fees will have two components:

  • Basic management fee that is equal to 10% of the net rental revenue achieved
  • Management incentive equal to 15% of the net return/profit owners will receive from their rental income after deduction of property management expenses.

Communication

Periodical property management news updates and an annual meeting will ensure open communication and dialogue between owners and Management.

Join this exclusive beachfront community

The Lotus Terraces are one of the last remaining beachfront properties on the island with spectacular views of Koh Phangan and the sunset. There are only a select number of 6 villas and 5 terraced homes available. Be among the first to own this exclusive beachfront property when Phase 1 of the completed villas is launched in November 2007. Special introductory prices start from THB 13.3 million. Just contact us now to receive more information on the upcoming launch, or to be included in our mailing list so that you can receive the latest news on our development.

The Lotus Terraces - Sales Office

12/18 Moo 5, Maenam, Koh Samui,
84330 Surat Thani, Thailand
Tel: +66 (0) 8 9972 3043
Email: sales@thelotusterraces.com

Contact phone numbers outside of Thailand:

  • Singapore +65 3106 2138
  • UK +44 20 8099 5928
  • Canada +1 604 629 9047
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