RENTAL POOL - FAQ'S
Can I rent my week?
Yes, if you do not wish to use your week, you can make it available for rental through Fairways Direct, the Club's official representative.
What do I have to do?
It is necessary to sign a rental contract and return it at least 12 weeks before the start date of the week.
How do I get the rental contract?
What happens if I don't return the signed contract?
We will not be able to put your villa in the rental programme without the contract duly signed and returned, even if you have communicated your intention to us in writing, and you will not be entitled to receive any funds.
How does the rental pool work?
All amounts received for a specific week's rental, and in a specific villa style/priceband are included in the rental pool sharing system, and subsequently divided equally among all members who made their weeks available for rent that same week and with the same villa style/priceband. In order to be eligible to participate in the rental pool it is necessary to sign and return a rental contract at least 12 weeks in advance of the date of occupancy of the unit/week.
Example of a rental pool in a 2 bedroom villa or apartment (type B or GP) in week 26:
|Gross amount received|
|1st rented unit||2 450,00 €|
|2nd rented unit||2 300,00 €|
|3rd rented unit||2 450,00 €|
|4th rented unit||2 880,00 €|
|5th rented unit||2 880,00 €|
|6th unit was not rented||- €|
|7th unit was not rented||- €|
|Total amount received||12 960,00 €|
|Number of villas eligible for the rental pool||7|
|Gross value for each villa||1 851,43 €|
That means that each eligible villa would receive the amount of 1,851.43€, before the deduction of taxes (vat) and commissions, regardless of whether it was rented or not.
What happens if I return the contract less than 12 weeks before the date of occupancy of the unit/week?
Contracts returned less than 12 weeks prior to the unit/week occupancy date will only be considered eligible for the rental pool if your unit is also rented.
In the event that your villa is rented for a period of 3 nights or less, which sometimes happens in "last minute" bookings, you will receive only the amount corresponding to the nights rented and are therefore not eligible to enter the "rental pool". If your villa is rented for 4 nights or more, then you will be eligible to enter the rental pool and receive your share of the pool.
How do I know if my villa was rented?
Members are not informed if their villa is already rented, as they will always be entitled to receive a share of the rental value regardless of whether the villa has been rented or not, provided that they return the contract signed at least 12 weeks in advance.
And if I return the contract less than 12 weeks, am I informed if my unit is rented?
No, but you can always call Fairways Direct and ask if it has been rented and whether or not you are eligible to participate in the rental pool.
But what if I change my mind and want to use my week?
You can do this unless Four Seasons Fairways has already obtained third party booking confirmation for your unit in the meantime, then you will no longer be able to withdraw your week from the rental programme. You should always check with Fairways Direct in the event that you wish to remove your unit from the list of available accommodations.
How do I know how much I'm going to get?
The amount to be received is only calculated after the date of departure of the week, and the amounts are subject to the demand and obviously the success of the number of villas rented according to the number of villas available for rent. The higher the number of rented villas, the higher the amount to be received by each member.
The demand in the summer months is higher which in principle will generate a greater return. In the low/middle season months, demand is lower, reducing therefore the amount to be received by each member.
When should I return the contract, only 12 weeks before the date of occupancy of the unit/week?
No, quite the contrary, the sooner you return the contract, the more likely we are to secure more reservations. Usually the demand for the summer months happens at the beginning of the year. The late return of contracts may mean that we are refusing reservations for lack of availability early in the year, and then end up with the weeks unoccupied due lack of demand at last minute.
When and how do I receive the funds?
The amounts shall be paid to the member no later than 6 weeks after the end of occupancy by the third party. The amount will be transferred to the bank account indicated by the member, or it can be credited to the management fee account.
The amounts will be paid immediately after the member signs a receipt.