FREQUENTLY ASKED QUESTIONS
What is Mondavi Condotel Concept?
Mondavi Condotel is a condominium - hotel project offered for purchase to be owned by individual owners who have an option of renting it out as a hotel suite when not in use, which will be managed by a professional condotel/hotel management operator. Mondavi Condotel offers fully-fitted, fully-furnished units with complete amenities, facilities and services similar to a 5-star resort hotel. Owners of Mondavi condotel unit may produce rental revenues, making the ownership of a unit an income-generating investment for them
How many days in a year can I use my condotel unit for personal use? Is it Free?
Unit owners may use their condotel units for fifteen (15) days a year. Unit owners will also have to pay 50% of the regular rental rates. However, your payment will be included in the computation for rental revenue share and will be deducted on your monthly rental income. THESE ARE ESTIMATES AND NUMBERS MAY VARY AT THE TIME OF SIGNING OF MOA.
If a unit owner uses his unit more than the allowed number of days in a year, how does this affect their share in the rental income?
The unit owner will have to pay the regular rental rates when they use their unit in excess of the allowed number of days. However, your payment will also be included in the computation for rental revenue share and will be deducted on your monthly rental income.
What will happen if the unit owner was not able to utilize his fifteen (15) day benefit in a year?
If their unit was rented out during their fifteen (15) day allotment, they will receive rental share if it was rented out during that period.
How does Mondavi Condotel differ from Timeshares?
At a Timeshare Property, you are only a co-owner with a right to use the property for a certain period of time. When you own a unit at Mondavi, you posses absolute ownership of the condotel unit evidenced by a Condominium Certificate Title (CCT).
How does the Condominium Hotel Program work?
Mondavi will follow an estimated percentage sharing of 50% for the unit owners and 50% for the hotel/condotel operator. Unit owners may receive monthly income based on the size of their unit regardless of whether said unit was leased or not. This is because Mondavi will pool together its entire total income from rental operations and distribute this to unit owners according to the percentage sharing based on gross income.
Are there any Association Dues or Rental Management Fees to be paid once the condotel unit is enrolled under the Condominium Hotel Program?
To be determined at a later date based on agreement. However, as a matter of practice, association dues are already being shouldered by the program.
Are there additional expenses/fees a unit owner must pay upon enrollment in the Condominium Hotel Program?
A minimal joining fee is required to be paid by the unit owner upon enrollment to the program. The joining fee will be determined later on by the condotel/hotel operator.
If repairs are needed to be done in the unit of the owner, will it be shouldered by the condotel operator?
Only minor repairs shall be shouldered by the condotel/hotel operator. However, future arrangement can be included in the agreement so as the owners will not shoulder the expenses.
What are the other expenses to be paid by the unit owner upon purchase of a condotel unit?
Miscellaneous Fees (title transfer, documentary stamp tax etc.), Real Estate Property Tax and Insurance shall be on the account of the unit owner.
Can unit owners and guests cook inside their unit?
As prescribed by the association.
Because we are Hyper Amenitized we are WI-FI ready
