18 Apr 2008 6:27 PM:
Although the rental schemes offered as an OPTION on projects being developed by Peninsula Project Management are not run by the developer themselves but by an independent rental management company, Peninsula is justifiably proud to advertise the schemes as a value added service to their clients, as these schemes are exclusive to Peninsula developments.
Due to the building quality of our developments and the choice of locations, the independent rental management company has chosen Peninsula as the exclusive developer in Spain for its rental agreements with tour operators.The rental management company has adopted the name Royal Peninsula because it exclusively deals with Peninsula projects, even though the two are otherwise unrelated.
As not all property owners who purchase a property from Peninsula wish to adhere or take advantage of any rental plan, it is not normal procedure to provide purchasers with information of rental plans unless they request it. With thousands of clients and units sold, the developer cannot guess who wishes to take advantage of the rental OPTIONS on offer. It is up to the client to make the initial contact with Peninsula regarding rentals, once the client approaches Peninsula to request information, they will find Peninsula staff very helpful in forwarding information or if they cannot answer the client’s questions, they will put the client in contact with the rental management company, Royal Peninsula (Phone +34 952 768 302)
Because clients are engaging an independent rental management company to manage their rentals, it stands to reason that there is going to be an annual fee. Once again I stress that when the client signs a purchase contract, they sign a contract for the purchase of a property, and the guaranteed rental is an OPTION which was offered to the client at the time of purchase; as an option, some purchasers wish to engage that service, others do not, and therefore it is not a service which is included in the purchase price of the property.There is a third party involved, Royal Peninsula (+34 952 768 302), and therefore it is to that third party that the client must pay an annual fee.
As stated by Margaret Corley from Royal Peninsula (+34 952 768 302) in an earlier post in this forum, the final rental contracts are the result of input from several lawyers as many clients originally involved their lawyers, and in answering their questions and suggestions, the final contract took shape.
To summarize:
Peninsula sells the properties- Peninsula is not in any way involved with rentals or rental management. When purchasing a property with Peninsula Project Management, the contract the client signs is a contract for the acquisition of a property and the price paid to Peninsula exclusively includes the property.
Royal Peninsula (+34 952 768 302) is a property management company; they are not and never have been involved in land or property sales. Should a client wish to take advantage of the OPTIONAL rental schemes which Peninsula passed on to them upon the sale of the property, the client will sign a rental management contract with Royal Peninsula (+34 952 768 302) for the management of the property rentals, and will therefore be liable to Royal Peninsula for annual management fees.
Peninsula Project Management is not incurring in any scam or fraudulent advertising when advertising their properties as including guaranteed rental; as upon purchasing a property on any of their developments selected by Royal Peninsula the client is given the CHOICE of taking advantage of a rental scheme which is unique within Spanish territory and exclusive to Peninsula developments.
Community thread:
Hallo
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