What is a condo-hotel?
The ESPACENORDIK condo-hotel is located inside the Château Mont Sainte-Anne hotel complex. This concept allows families and/or couples to purchase a condo for use as a vacation home. When the owner stays at their condo, they can take advantage of all the Château Mont-Sainte-Anne complex services, as if they were hotel guests.
When the owners are away from their condo, hotel management rents out their condo on their behalf, in the same way as hotel complex rooms are rented.
All owners receive a share of the rental revenue generated by their condo. This revenue allows owners to offset some or all of their condo fees and other financial obligations.
Owners don’t have to worry about rental paperwork or administration because the Château Mont-Sainte-Anne administration team takes care of it for them.
You can enjoy your condo whenever you like and receive a share of rental revenue.
As a real-estate owner and investor, you can claim income tax deductions. Your financial advisor can advise you on the deductions applicable to your individual portfolio.
The condo-hotel is a financially advantageous formula on several levels:
- Regular rental revenue (monthly);
- Turn-key management provided by the Château Mont-Sainte-Anne;
- You never have to follow up on rental payments;
- You never have to deal with repairs or housekeeping;
- Mortgage financing plan provided by Desjardins.
What does “turn-key” mean at ESPACENORDIK condo-hotel?
The term “turn-key” refers to a unique project conceived by ESPACENORDIK.
A “turn-key” investment
- Visit a model condo that is identical to your future purchase
- Attractive tailor-made financing plan provided by Caisse Desjardins
- We take care of liability insurance
- We take care of renting out your condo
- We deposit your rental revenue in your bank account every month
- Revenue report. We send you a detailed cumulative revenue report every month. Your accountant will thank you!
- No need to worry about a contingency fund. Château Mont-Sainte-Anne will take care of it.
- Your condo fees will be deducted from your account on the first of the month. This fee includes all your condo-related fees and your contribution to the contingency fund.
- All you have to take care of are municipal and school taxes and your financing plan obligations.
A real “turn-key” opportunity
As explained earlier, when you are away from your condo, the Château Mont-Sainte-Anne administration team rents it out in the same way as the hotel complex rooms are rented. Rental revenue is then divided and redistributed among owners. This allows owners to offset other financial obligations.
ESPACENORDIK has adopted a “redistribution pool” system for redistributing your condo’s rental revenue. This ensures that revenue is distributed equally among owners of rental units within the same category.
Please contact an ESPACENORDIK sales representative if you would like to find out more.