Bayo Condotel & Suites

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The completion of this project is on Dec. 2010.
The unit can be purchase through in-house financing at 20% down payment payable for 24 months and the 80% balance is payable for 5 or 10 years.

Or the balance can be applied for Pag-ibig Financing payable for 15, 20 or 30 years.

From: Rey Sinena Guest  /Jul 23, 2009 permalink   reply  

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{"type":1,"comment":"The condotel fuses defining characteristics of condominiums and hotels and creates a new property-type housed within a traditional hotel.

In a condotel, individual buyers purchase the condotel units, which physically resemble traditional hotel rooms. When the condotel-owners are not in residence, they put their units into a rental pool. The hotel then is responsible for renting the rooms. The hotel and unit-owners split the proceeds.

Although condo-hotel combination properties have been around for about 20 years, primarily in southern Florida, they were often developed in conjunction with unflagged -- or nonfranchised -- hotel properties. As a result, they had limited marketability and experienced limited popularity.
While these properties have become more popular in the past four to five years, the relative newness of this market still affects the developer and the buyer. Indeed, condotels have many strengths and weaknesses. To analyze a prospective condotel property effectively and arrange the smoothest transaction possible, brokers should be aware of all aspects of unit and property ownership.
Potential strengths

Part of what makes the condotel a potentially lucrative investment for developers is the perks it offers the buyers of the individual units. Perks to buyers translate into greater unit sales for developers.

A primary benefit to buyers is that condotels offer an alternate or vacation home without the full responsibility of a second home. In fact, because a unit-owner's time in the condotel is limited by the rental process, the property type is designed to be a secondary, not a primary, residence. The unit-owners also enjoy the hotel services provided by the hotel.

Further, buyers can recoup some of their initial investments through rental revenue that is completely arranged by the hotel. Unit-owners typically receive about 50 percent of the total revenue attained through renting the room. This additional income helps with some of the expenses associated with the unit, in addition to some of the mortgage.

For developers, condotels allow them to repatriate most of their equity. The profit is delivered upfront with the sale of the units. Developers can further make money with these property-types by maintaining ownership of the hotel's public spaces such as the bars, restaurants and meeting facilities.

Top Ten Things to Consider When Buying a Condotel

1. Desirable Location
2. Price Comparison of Standard Condominium to Condo-Hotel Unit
3. Property Management
4. Annual Ownership Costs.
5. Competitive Condition Sustainability
6. Commercially Competitive Location
7. Historical Rates and Occupancy of Competitive Hotel within the Market Area
8. Specific Commission Structure, Deductions and Costs
9. Ease of New Competition to Enter the Market
10. Asset Management Utilization

As published in Scotsman Guide's Commercial Edition, October 2006.

Condotel Income Projection

INVESTMENT COMPUTATION
1 BR Condotel Unit - Area: 28.72 sqm
Investment Value: Php. 1,625,552
20% Down Payment: Php. 325,110
Additional Furnishings @ P8,500/sqm:Php.244,120
Less:Reservation Fee: Php.20,000

24 Monthly Investments:Php.22,885
80% Balance thru bank financing (indicative rate):
Php. 1,300,442
5 years @ 10.25%: Php.27,791
10 years @ 11.00%: Php.17,914
15 years @ 11.50%: Php.15,192

Condotel Investment Opportunity: Location

Full Service Hotel Rate
Makati City & Ortigas Center Php.5,000/day ($100)

Quezon City Php.2,400/day ($ 50)

At Php. 2,400/day X 30 days= Php. 72,000/month
At 50% Occupancy Rate= Php. 36,000/month

Income Sharing
50%--Unit Owner
50%--Hotel Operator
Return of Investment

Present Value of 1 Bedroom Condotel Unit (28.72 sqm): Php. 1,863,928(including furnishings)
10-year Resale Value Projection: Php. 4,000,000

Initial Investment:
Reservation:Php.20,000
Down & Furnishings in 24 months:Php.22,837/month
Total Investment for 24 months:Php. 568,082

10-year Resale Value Projection:Php. 4,000,000
Less: Initial Investment: Php.568,082
Return of Investment: Php.3,431,918

BAYO CONDOTEL & SUITES BENEFITS:
(CONDOTEL UNIT BUYERS ONLY)


1. At Bayo Condotel you own a specific Condotel Unit and have Condominium Certificate of Title in your name once it is fully paid.



2. Bayo Condotel Owner will get a 30-day FREE stay benefit commences at the start of every fiscal year. This will be distributed to the Unit Owner in terms of certificates where they are entitled to priority in booking even on peak seasons provided the availing of the 30-day FREE stay is exercised and availed of by negotiating in advance the use of the unit.

3. Bayo Condotel Owner may use his 30-day FREE stay for more than one unit at the same duration, provided that it would be the same unit type. For example, if an owner will stay in the condotel for a week and he will rent another unit for his family or friend, he will consume a total of 14 days for the week chargeable to his 30-day FREE stay.

4. If the usage will exceed 30 days, they will have to pay the member’s rate which is 30% discount from the regular rate.

5. If the Condotel Owner was not able to use the 30-day FREE stay benefit. Subject to 2 months prior notice before expiry, the unused 30-day FREE stay maybe transfer/authorized his friends or relatives to use it. Advance booking and registration is required subject to the availability of room units.

6. While the condotel is under construction, Buyers who pave paid the units and have a with 30-day FREE benefits may avail it at Sir William’s Hotel located at No. 39 Timog Avenue, South Triangle, Quezon City on a pro-rata basis as follows:

a. 100% payment – 30 days free
b.50% payment – 15 days free
c. 30% payment – 7 days free
d. 20% payment – 5 days free

7. If the Condotel Owner does not use his FREE stays on peak season, he will receive a bonus on those days equivalent to room rate difference on regular days.

8. Bayo Condotel Owner can upgrade his FREE stay to different Unit category, provided that he has to pay the difference in room rates.

9. Bayo Condotel Owner will receive an income from the Hotel operation.

10. In order to maximize returns and ensure cost efficiency for Condotel Owner, only room revenues and room divisions related expenses are considered in the determination of income such as housekeeping, laundry, front office, security, repairs and maintenance, utility, taxes and insurance attributable only to the units. Food and Beverages (F&B) and its related expenses as F&B personnel, kitchen equipment, supplies, utilities, taxes and insurance are treated separately from and independent of the room divisions expenses of each Condotel units. This setup assures the Condotel Owners a cost efficient operation as room related expenses are easily controlled and managed.

11. Dividends shall be payable quarterly in checks to be mailed or paid directly to the bank accounts of Condotel Owners.

12. Bayo Condotel Owners will still receive quarterly income based on the type of unit regardless of whether the unit was rented or not. Hotel operator will pool together its entire total income from rental operations and distribute this to the Condotel Owners as dividends according to the pro-rata percentage sharing on unit types. Income will come from room revenue less room division expenses.

13. BayoCondotel Owners can not live in their property full time. Condotel is for Investors Only. Condotel Owners are required to enroll in the Condotel Operations for a minimum of ten (10) years with further option available to the operator which he is likely to invoke to extend the term on expiry subject to mutual agreement as per majority vote of the Unit Owners Association.

14. Sir William’s Hotel will be the Hotel Operator to manage the Condotel and to provide financial, operational and property management of the Condotel Units.

15. Hotel Operator will receive 50% shares on the gross income of the Condotel.

16. As a premium responsibility to the Hotel Operator, if total expenses do not exceed 30% of net sales, which shall result in a 50% gross operating profit before income tax, an additional 3% of net income will be given as a bonus to the Hotel Operator.

17. Minor and major repairs are shouldered by the Hotel Operator and chargeable to and part of the operating cost covered in the estimated 50% Hotel Operator’s share.

18. All “Bayo Condotel & Suits” Unit Owners are automatically members of the Condominium Association and pay association dues but for Condotel Owners, Condominium Association Dues are charge to the Hotel Operator and part of the operating cost covered in the estimated 50% Hotel Operator’s Share.

19. The Condotel Owners will pay their INSURANCE PREMIUM share to the Condominium Association.

20. Upon operation of the Condotel, investors will receive percentage of income.

From: Rey Sinena","media":[]} Guest  /Jun 29, 2009 permalink   reply  

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You can call me on the following numbers Residence 829-94-10, mobile 0910-8893710 and office numbers 914-49-27 or 667-37-57.

From: Rey Sinena Guest  /Jun 29, 2009 permalink   reply  

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Hi, do you have an estimate of how much the 28.72 sqm unit will earn quarterly? how much discount if 20% downpayment is made? is it possible for you to send me a floor plan so we can see what are available? thanks.

From: imee Guest  /Jun 29, 2009 permalink   reply  

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Hello,

Thank you for your queries about the Bayo Condotel and Suites. Unfortunately the condotel is still under construction and the turnover of the units is on November 2010.
However if you need more assistance in acquiring a property in Metro Manila particularly Quezon City please get in touch through my cell phone #0910-8893710.

From: Rey Sinena Guest  /Jun 9, 2009 permalink   reply  

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Thank you for your interest about The Bayo Condotel & Suites in Sct. Bayoran, Timog Quezon City.

Here are the following information on the 1 and 2 bedroom.

A. Executive 1 Bedroom Unit-33.75 sq.m.
Total Contract Price -Php.1,869,750
Terms of Payment
20% Down Payment -Php.373,950
24 months payment -Php.15,581.25
80% balance -Php.1,495,800
Payable for deferred cash payments for
24 months -Php.62,325
36 months -Php.41,550

In-house Financing:
5 years @ 12% int.p.a.-Php.33,273.24
10 years @ 12% int.p.a.-Php.21,460.24
.
B. Regular 2 Bedroom Unit -57.50 sq.m.
Total Contract Price -Php.3,185,500
Terms of Payment
20% Down Payment -Php.637,100
24 months payment -Php.26,545.83
80% balance -Php.2,548,400
Payable for deferred cash payments for
24 months -Php.106,183.33
36 months -Php.70,788.89

In-house Financing:
5 years @ 12% int.p.a.-Php.56,687.75
10 years @ 12% int.p.a.-Php.36,561.89

If you want to know more about The Bayo Condotel & Suites, feel free to call or give a text message on my cell phone #910-8893710.

Thank you and hope to hear from you soon!

From: Rey Sinena Guest  /Apr 24, 2009 permalink   reply  

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2 Bedroom Unit
Unit # 514
Selling Price: Php.2,728,450
20% Down Payment 545,690
24 months to pay 22,737.08

80% balance: Php.2,182,760
In-house Financing

10 years to pay @ 12% int.p.a.:Php.31,316.06

From: rey sinena Guest  /Mar 1, 2009 permalink   reply  

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pls send me a computation if i'm going to purchase it thru pag ibig. thanks.

From: winy Guest  /Nov 2, 2008 permalink   reply  

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Bayo Condotel & Suites

Executive 1 Bedroom 28.72 sq.m.
Total Contract Price -Php.1,903,500
3% discount - 57,105
Net Total Contract Price - 1,846,395
20% down payment 369,279
6 months to pay 61,546.5

In-house Financing

10 years to pay @ 12% int.p.a.-Php.21,847

From: Rey Sinena Guest  /Nov 2, 2008 permalink   reply