You’ve probably heard of reports from owners whose properties that were rented via a popular travel app, got trashed or plundered, costing them way more money than what they earned from the short rental.
Aside from the possibility of the property getting robbed or damaged, owners also need to worry about managing the place or getting capable people to maintain it regularly. Changing the sheets, cleaning the bath and wiping the furniture all cost more money and time that could have been devoted to other undertakings.
The Novel Residential Concepts Inc. addresses these these concerns with its investment package for Ridgewood Premier Hotel along C-5 Road in Fort Bonifacio. The four-star hotel is set to open its doors to tourists and business travelers in 2023.
Roberto Alvarez Jr., president of Residential Concepts Inc., said the company will be in charge of the management and maintenance of the units at Ridgewood Premier Hotel, instead of the investors, or their staff, doing the heavy lifting.
It’s all about confidence
“We want our investors to dedicate their valuable time to their businesses, and other endeavors,” explained Alvarez. “We promise to make their money work for them every step of the way.”
Another plus for Ridgewood Premier Hotel investors is the guaranteed 6% annual return on investment, topped by another up to 6% performance bonus per annum based on hotel occupancy.
Peace of mind
Investment at the 168-room hotel is also backed by a lease contract, with the opportunity to cash out and lock in appreciation on a specified period, with a pre-determined appreciation rate.
“We are giving our investors peace of mind in the management of their hotel units, both in terms of proper care of their property and earnings,” Alvarez said.
Ridgewood Premier Hotel has units ranging from standard suite (24.8 sq. m. at P3.54 million including furnishings) to a two-bedroom suite (55.7 sq. m. at P6.92 million). With the hotel targeted to start operating in early 2023, investors have the opportunity to reap benefits from what analysts forecast as the start of the recovery of the travel and tourism sector.