Hi Mike / Angela
Thanks for the response. Rather than reinventing the wheel, can I ask how your concerns on the "extra" costs ref lines etc was left with Azy?
Also on the rent returns, were you offered a guaranteed rent return when you first went to see the property? I know that this was our expectation.
When you say you "..you wont become owners until September" do you mean IMOCOM have July and Augest first refusal under the rental agreement leaving the owner their first chance to use it in September (unless you wanted to pay for the privilage..!!)
Will certainly keep you posted with anything at our end.
Regards
Simon
Quote:
Originally Posted by blackersmanda
Hi Simon/Sara Phil/Lynda,
Firstly the direct contact at IMOCOM is Azy Leite who is the condominium and owners club manager. His phone is 00351218923030 or email azydotleiteatimocomdashgrupodotcom. (You have to do the address like this or this website doesn't let you show it).
We've been out to the site and met Azy, but our concerns are far from resolved. As you will see from the pack you received, there appear to be charges that we were never told about e.g paying for telephone and ADSL lines, connections to sat television etc. The rental/rack rates being advertised are way below what we were led to expect, even though Azy says these are 1st year rates designed to attract people in and establish the site, and they may increase by 20%? next year.
We're told the site will open for rentals 1st July and any rents generated will be shared between the owners according to what's generated by each apartment type. We won't actually become owners until September?(There did still seem to be an awful lot of work to be done B4 1st July).
There is also the little matter of advertisng/web sites, which we're told could be around 20-25% of rentals and which will come off before the rental is divided up 60/40%!
Hope we haven't depressed you too much, let us know how you're progressing.
regards
Mike and Angela
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