Pacific Concord Properties, Inc.'s projects are designed with Foreign-Based Real-Estate Investors and End-Users in Mind. Lancaster unit owners have the option of enrolling their condominium units in a pool of units to be managed and operated as hotel rooms, known as the "Condotel" operation.What is a CONDOTEL?
A condominium hotel or condotel is any project that is managed and operated as a hotel, resort, inn, or lodge and, therefore, is not a residential project, even though the units are owned individually.
Income
* The "Condotel" operation ensures that unit owners earn competitive Rental Income from their unit while they are not using it.
Flexibility
* Condotel Unit Owners enjoy special Discounted Package Rates when checking-in to any of the Lancaster Condotels.
* Unit Owners may also choose to live in their unit for extended periods of time, or permanently, by pulling out their unit from the "Condotel" pool.
Completely Hassle-Free Property Management and Rental Income
* Lancaster Unit Owners in the "Condotel" pool enjoy totally Hassle-Free property management. The Professional Hotel Management Operator will ensure the complete maintenance and upkeep of the units enrolled in the "Condotel" Pool.
* A complete array of Hotel Services are also available for both hotel guests and residents, such as Housekeeping, 24-Hour Telephone Operator, Laundry, Concierge and Hotel Car Services.
Total Property Management
* Lancaster Unit Owners in the "Condotel" Pool will enjoy Total Property Management.
* Every billing concern such as association dues, special assessments, and other fees/charges is deducted from the Gross Income of the Unit. Under Philippine laws, the Gross Income of the Unit is subject to withholding tax which is currently at 5%.
* The unit owner just waits for the Net Income each Month, regardless of where around the globe the unit owner is residing.
Fair Distribution of "Condotel" Income
* The Professionalized Lancaster "Condotel" concept ensures fair and equitable distribution of the "Condotel" income.
* The Gross Income of the unit is computed by getting the Condotel Gross Room Revenues, deducting the total cost of Operation and Taxes to get the Net Revenue which is then Divided by the total square meter floor area� of the units in the "Condotel" pool and shared equally based upon the owners total unit area.
* Thus, all of the unit owners enrolled in the "Condotel" Pool will receive the same income per Square Meter, per month regardless of actual unit usage.
Riding the Tourism Boom
* The Philippines is currently at the onset of one of the biggest Tourism Booms in Philippine History.
* This will create a large demand for Hotel Rooms and increase the Hotel Room Rates especially in key areas such as the Mandaluyong/Ortigas Central Business District and Cebu, where the Lancaster Developments are located.
