Many of you have seen in the general rules and regulations, namely in clause 12 under "General Use and Management"that there is restriction on clients’ wishing to rent their properties. We would like to explain the reason for this restriction and clarify its application.
The most important thing that we want to look after is your investment in Vila Verde. For those of you who have not seen it, the resort is taking shape and is beginning to look very smart indeed. We know that, despite the annoying delays we have experienced to date, it will not disappoint anyone when it is completed.
However all the properties need to be maintained if they are to grow in value. Plus it is vital that we present the highest quality image in a sustainable way.
This is of utmost importance when you consider that the resort is practically 100% foreign owned and nearly all clients will not be in full time residence. Consequently we need to appoint a management company whose job it will be to run the resort after it is completed and to maintain all properties and facilities to the high standards that we all aspire to.
In line with the current practice for the management of tourist resorts, the commercial rental of properties is the responsibility of the onsite management company. This allows us to obtain the best possible terms and offer our clients a guaranteed income package that is stable in the long term.
But this does not mean that clients may not rent their properties privately in their country of residence whether through their own friends and contacts or the internet. To restrict the freedom of clients to rent their properties themselves would be unfair and was never Tecnicil’s intention. What it does mean is that clients may not rent their properties through an “entity” that is to say, a commercial company.
We do apologise for any misunderstandings and encourage you to write to us at info@tecnicil.com with any further questions.
Please be aware that we are working to clarify any worries and concerns you may have and that it is our intention to deliver a first class resort and maximise your confidence and investment in Tecnicil.
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After lots of hard work I am sure you will all be relieved to hear that the
cockroach infestation that had affected many of the apartments at the Vila
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13 years ago
I know this restriction has worried us as purchasers and has given us doubts as to whether we will proceed with our puchase. Can you please confirm that if we rent out privately, we can employ an independant company to arrange the cleaning etc of OUR apartment
ReplyDeleteThe idea of the resort is to maintan a certain standard. We at Tecnicil, both in Tecnicil Imobiliaria and in Tecnicil Hotels and Resorts, rightly or wrongly, want to aim for the highest standard possible.
ReplyDeleteWe have already seen how some companies have offered services to our clients on Vila Verde and then have not delivered this service and we are then left with unhappy clients that demand that WE solve this problem.
We know the market that we are in and, above all, the country we are in, very well. We are firm believers in responsibility and also accountablility. In Cape Verde there are many companies that say that they can offer the same service, but then the quality of this service might not be what you would expect.
There is then also the question of what happens when these people are in your apartment, to clean it or to do a changeover. Who is responsible for them on site?
Our approach is to unify these services under one, responsible and ACCOUNTABLE company. A company that is onsite all the time. A company that imposes standards. All of the staff will have uniforms, name tags and will be known to the security staff on the gates. All of this adds up to one thing: peace of mind. For you and for your fellow buyers.
Of course we are not going to "police" the resort and be second guessing people who have decided to hire someone else to change their bedding. We would much rather you buy into the concept of the resort.
The biggest decision and act of faith is already taken: You have purchased a property with us. In spite of the difficulties that we have ALL experienced in the last year or so and in the face of the mistrust that has been generated by some, I would hope you can see that we are working very hard to deliver a first class resort.
Please, and I mean this in the gentle sense of the word, bear in mind that you have bought a property on a resort. You have not purhcased an apartment in a small block. You whave bought into a resort concept and the usual thing within resorts is to unify the services onsite. I do not know of a resort anywhere in the world where the clients do NOT avail themselves of the onsite facilities.
We have already stated that you can rent out privately.
The reasons behind not allowing the presence on site of other agents is linked to what we put higher up. The hotel and catering industry is extremely competitive and as a result companies are appearing and disappearing every day. Where would we be and what could our reaction be if we allow companies from say, Santa Maria (There is a question on here about agents, but we do not want to name them so please take this as a response) to come on site, bring clients on site, have keys to apartments and then something goes wrong. It would be the onsite management company that has to ultimately take care of the issues.
Also we will be ensuring that the services we offer to residents are competitive and priced according to market conditions. It may be that some clients are unhappy now for no reason. Isn't it best to wait and see the spread of services available to you from Tencicil Hotels and Resorts? You never know, you might be pleasantly suprised.
One last point. In the public domain people have been saying that we will fail. Yet the feedback from clients to the resort has always been 100% positie. EVERYONE is pleased with the quality of workmanship and the finish.
We are utterly convinced that we will deliver a first class resort and that you will NOT be disappointed. Please bear with us when it comes to the delays.
I have no problems with Tecnicil providing management for our apartments but surely if an apartment has been bought freehold then the owner must have the right to employ who he chooses?Also again how can Tecnicil forbid owners to use local agents to help rent their properties if the owners are not in the rental scheme?
ReplyDeleteIt sounds like, in a nutshell, that you can not rent your property using a local management agency on Sal. You are saying that you can only arrange your own rents for friends/family or by way of the internet in your own country. Please clarify that this is the case.
ReplyDeleteFurthermore, from what you have said, it would appear that your options regarding cleaning and changeovers are limited to trying to be sneaky and getting away with it behind Tecnicil's back, or by using Tecnicil's services.
I appreciate that clients do not know what Tecnicil have to offer yet, or the prices that would be involved. But wouldn't it be better to advise clients of this prior to completion, as doing so afterwards, the clients have already completed and thus have no choice in the matter. I'm not saying that this will happen, but maybe some clients may choose not to complete if they are aware in advance of the restrictive nature of these issues and the price of the services on offer.
Many buyers are of the opinion that what they are now getting, doesn't match up to what they signed up for 2 - 3 years ago. Due to this, I think it is only fair that Tecnicil provide this information and maybe more information on service charges prior to completion, in order that they can make a decision.
Tecnicil are aware, that some who have already completed, were presented with this rental clause only after completion. These people now own apartments and have to go along with whatever rules Tecnicil wish to bring in. This, quite understandably is making those who have yet to complete a little more cautious.
No name given!
Tecnicil offering a management service for apartments not in the rental pool is a positive move. Most buyers would welcome this on site service but Tecnicil need to be clear about exactly what services they are offering and how much these would cost. This list should be made available to all as soon as possible. Buyers will feel much more comfortable if they know what you are charging but freedom to choose is essential. If buyers are not happy with Tecnicil services or fees they must have the freedom to choose another agent. Tecnicil will only gain trust by being open with fees and services and allowing freedom of choice. You may find many buyers decide to use your on site service even if they have the choice to use some one else if they can see what you are offering and how much you are going to charge.
ReplyDeleteWith rental buyers not in the rental pool freedom to advertise apartments with other agents is essential in optomising rental return and protecting the buyers investment. Such small agents hold little threat to larger tour operators and allow buyers to have flexibility in optomising their investment.
Tecnicil could very quickly regain trust of buyers by offering a management service with clear pricing, before completion, but offer this service with choice to use someone else if the buyer prefers. Also allow none pool buyers freedom to optomise their investment.
Small independent owners using small agents are little threat to big tour operators.
This current negative situation could quickly be turned into a positive by Tecnicil.
Unfortunately with hindsight we regret signing for our deeds months ago. Had we known that Tecnicil would come up with such restrictions we would not agreed to complete. Indeed we would never have signed up to buy in 2006 had these facts been available. No wonder so many people are now considering arbitration / court.
ReplyDeleteFirst of all let me thank you for giving your views. As you can see we have not cut any messages except for one because it mentioned certain companies by name and we can not do that, I am afraid.
ReplyDeleteI think the main way for us to view this whole issue, in my humble opinion, is from a positive point of view. It is not a question of focusing on the "restrictions" it is more about focusing on what we are hoping to achieve with Vila Verde.
I will comment more fully on the comments at the end of the week, so we can get a "critical mass" of comments. However, suffice us to say that we are listening to you, we are interested and concerned in what interests and concerns all of you. We do NOT want to place restrcitions on you and welcome opportunity to explain to you why we have drawn up the rules like we have.
So please, comment freely and we will publish everything here. We can then answer your questions and give our views. Please bear in mind, we are building a great resort. THAT is what counts here. YOUR resort is coming together and it looks great. Yes it's late, but it will be a reference point for all developments to come in Cape Verde.
Are Tecnicil intending to offer a genuine rental service to non tecnicil rental pool clients?If clients are to be prevented from using outside agents then an offer for a trial period of 6 months might go some way to ameliorating the angst generated by the new regulations and reduce the feelings of being shut out and restriction of trade that unfortunately the new regulations have generated.A genuine offer might encourage waverers to complete but when the goalposts are moved confidence wanes unfortunately.
ReplyDeleteBuyers not in the rental pool can not stop focussing on the restrictions to instead focus on what you are trying to achieve with Villa Verde as these restrictions have a great affect on what buyers are trying to achieve with the part of villa verde that they will have purchased. We all want a great complex but a great complex is of little value if our investment is restricted to poor returns.
ReplyDeleteAs said in above comments Tecnicil need to be clear about costs and services of the apartment management they are offering so buyers can see if this is competitive.
Also if Tecnicil do not want buyers to use another agent then Tecnicil should offer a rental service to non rental pool buyers by way of compensation for us not being able to use another agent. This service could mean Tecnicil offer a rental advertising service that we can use alongside owners renting to family, friends and the internet. If owners know that as well as renting out the apartment themselves Tecnicil is also advertising the apartment this would be the same as what another agent would offer anyway.
Such a service with a contract of 6 months as said in another comment would give owners reassurance that their apartments are getting the best opportunity and if after 6 months Tecnicil were unable to provide any additional rentals the buyer should have the option to use any other agent if they so decide.
Positive alternatives are the key, not negative restrictions.
You can not expect buyers to concentrate on the complex being a success and think they can ignore that the success of part of the complex is built upon restrictions and poor returns being placed on certain buyers. Such restrictions that will affect all buyers after 2 years.
Tecnicil need to offer alternatives and be open with services on offer and fees.
We can comment on this and talk about it forever but some action is required now.
Tecnicil what type of services can you offer and how much will they cost?.
I would like to stress that the pricing of services on the resort will come under the remit of Tecnicil Hotels and Resorts. However, they do want me to underline that they will be competitive.
ReplyDeleteTH&R really are a very professional team. The delays in getting things like the condominium fees out to you has been down to the difficulty of drawing up estimates for costs that just have never been incurred on the island or even in the country before.
Please bear with us and will soon try and give you a decent spread of pricing for both your management fees and also services onsite.
I would like to draw attention to the fact that Tecnicil via their agents sold these properties as freehold, which should have given us as owners total freedom as to how we let our own individual units. I accept that a management company is required for the maintenance of the grounds,pools and commercial units in a resort of this size. however, it appears that Tecnicil want to monopolise the rental in order to achieve as much income for themselves and do not want any competition. What sort of client is Tecnicil marketing to, millionaires only, I do not think so, I want to be able to advertise my property for rent with whoever I chose and If their is a problem with that company, then it is my responsibility and not the Resorts as is being alleged.
ReplyDeleteI think we have already clarified this issue. Please refer to the posts here. However, I would say that if your "company" did cause problems it would affect the whole resort.
ReplyDeleteAnyway, please read the recent posts on this Blog carefully and you have nothing to worry about.