Benefits & General Information
A Rental Program has been developed for owners of Gold Coast who have an interest to share their home on a short or long term basis to visitors of Aruba. The program allows owners to make use of their home at any time they desire and on a priority basis and at the same time makes the home available at all other times of the year to visitors looking for a more relaxed vacation experience.
The program is administered, marketed and promoted by Platinum Properties Management Company which has been contracted to operate and manage the Gold Coast community.
The benefits of participation in the Rental Program will give participating owners greater opportunities for increasing the return on investment. These benefits are outlined below and will be further enhanced as we expand our marketing partnerships.
- Extensive and Professionally Managed Sales and Marketing Program
- Ongoing affiliation with Aruba's Destination Marketing Effort
- Dedicated Commitment to Rental Program success to all Participating Owners
- 24/7 Property / Rental Management for all Rental Occupancies
- Scheduled Guest Interaction and Services (Housekeeping / Maintenance / Reception)
- Attractive Rental Income Formula with projected return on equity between 11% and 20%
- Gold Coast Ambassador Program (Voluntary)
- Sales Incentive / Commission Program
- Be a Member of the Rental Sales Team
- Participate in Marketing Events in Owner's home town areas (voluntary)
- Marketing Materials provided by Gold Coast
- Rewards Program (Based upon Rental referrals)
- Business Card Template
- Gold Coast Branded Shirt
- Professionally Administered Property Management System
- Incentive Package upon Signing of Rental Program Participation Agreement
Rental Program Details
The conditions of participation are minimal and are established to enhance the owners' investment and as well to provide a quality experience for our visitors.
- Participation in the Rental Program is on an exclusive basis and rentals may not be arranged by 3rd parties.
- Owner must provide a fully furnished home with accessories and must meet quality standards as established by the Management Company. These quality standards will be based upon quality and appeal and will assist in determining the rental rates based. (Furnishings, Accessory and Design packages and professional assistance are available).
- Owner is responsible for maintenance and repairs of home and its contents in addition to all relative utility costs (gas, water, electricity, and cable television) as well as liability insurance costs.
- Rentals will be based upon a "tenant" selection basis. Rental income will not be pooled and is paid to owners whose homes have been rented. During the initial phase of the rental program, homes will be rented based on a "rotation" basis.
- Rental rates shall be established by the management company on an annual basis and subject to change without notice based upon market conditions and demand. Specific rates for both town homes and villas will be based upon the quality standards as indicated previously. Each participating home will be rated as premium or deluxe and will be executed by an independent 3rd party.
- A marketing fee per participating owner / home will be established on an annual basis. The fee is currently set at $700.00
- Rental Management Income will be shared with the Owner retaining 70% of the NET income and the management company 30%.
- Platinum Properties is responsible for all administrative costs, public areas liability insurance, staffing, housekeeping and laundry expenses related to all rentals, marketing and promotions, reservations and accounting expenses. This information provides a summary of the Rental Program. A Rental Program Agreement between the Owner and Platinum Properties Management will be executed which details the complete program.