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Contact us: Toll free at 1-800-525-6622 or email info@kimberleycondos.com
Rental Management - Kimberley, British Columbia
The Kimberley Lodging Company Ltd. (KLC) is the largest property management company in Kimberley, BC. We manage over 120 condominium units among seven different complexes. These complexes include the following:
History The origins of KLC lie with the Mountain Edge and Silver Birch complexes. In May 2001 our management company, Mountain Edge Management Inc. assumed the strata and rental management of the Mountain Edge and Silver Birch complexes. In November 2004, the Kimberley Lodging Company Ltd. was established, purchased Mountain Edge Management Inc. and assumed the rental management of Kimberley Ridge, Copper Springs and some NorthStar units. The Kimberley Lodging Company now focuses solely on the rental management of units at the Kimberley Alpine Resort and works hand in hand with our Strata Property managers, Highland Property Management. Frequently Asked Questions (FAQ) 1) What is the difference between rental management and strata management?
2) How much revenue can I expect my unit to generate in a year? (As of January 2007) Kimberley is currently undergoing a construction boom in Resort Accommodation. As such there is a surplus of rental accommodation on the market and annual occupancy (excluding owner usage) is approximately 15%-20%. Therefore, potential purchasers should be aware that rental revenues do not cover the costs of the units, especially when capital carrying costs are taken into consideration. If potential purchasers are 1) looking for long term capital gains, or 2) would like to use their often, for personal reasons the investment will likely work. Currently, potential purchasers should not rely on rental revenue to carry the investment. 3) How often can I use my unit? Given the aforementioned occupancy rates, KLC encourages owner usage of unit. We work with owners to rent their units out to guests and charge a cleaning fee for after unit is used. KLC charges a $30 administration fee for owner guest bookings. There is no administration charge when owners or their immediate family use the unit. The current rental situation in Kimberley is such that there are six nights per year with 100% occupancy across the Resort. These are the 3 nights over New Year's and 3 nights over the Alberta Family Holiday (mid February). In the event that the unit is not available for rental as a result of owner, or owner guest usage, the KLC management fee applies. 4) How do I book my unit? In order to book your unit, owners are asked to download the above Home Owner Booking Form and fax or email to our office. It is imperative that owners complete this procedure to ensure that unit is ready for arrival. As per rental management agreement, owner bookings must be made 48 hours in advance. KLC encourages owner usage and owner guests usage. To this extend KLC has developed a webpage for each unit that we manage. We encourage owner to use this webpage to market their unit. KLC charges a $30 + GST administration fee for any owner guest bookings. This is for owner guests only and does not apply to owner bookings or bookings for owners' immediate family. 6) How is it determined which unit is rented first? KLC does not pool rental revenue for the different complexes that we manage. Owners receive their percentage of the nightly rate based on the number of nights booked. Units are renovated and have additional amenities (Gameboy, additional DVD player, etc.) rent more than units that are not upgraded. For the older complexes on the hill, namely Mountain Edge and Silver Birch, KLC will not enter into a management agreement unless the units have been substantially renovated, including but not excluded to new paint, flooring and furniture. When guests reserve a room, there are many variable that are taken into consideration:
The above list is partial but gives an idea of what variables are taken into consideration when booking. Having taken the guests requests into consideration, it is the goal of KLC to ensure that all units are rented out fair and equitable and that the revenue for the respective units are as equal as possible. Call toll free: 1 800 525 6622
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