This option is ideal for owners who would like to vacation regularly or live in their Kittitian Hill property.
Cottages
• Enjoy guaranteed use of your cottage for up to 42 nights during the Resort Season.
• Have unlimited short notice use of your property or similar unit, year round (subject to availability).
• The rental pool provides you an opportunity to earn income from the rental of your cottage. Rental income from all the cottages is pooled and the net income is split between the owners (prorated) and resort manager. Since the cottages provide the rooms for the hotel it is mandatory that all the cottages must be placed in the rental pool.
• Home Owner Association (HOA) Fees are US $10.00 per square meter, per month and include all administration, utilities, cable and internet, landscape maintenance, reserves for external painting and roof, common area maintenance, as well as security and management fees.
• In addition to the HOA Fees, property insurance estimated at 1.15% and property tax at 0.2% of the value of the unit is payable annually.
Villa Fractions
• As a fractional owner you may use your villa for up to 2 weeks during the High Season and 4 to 6 weeks during the Resort Season based on the Villa fraction chosen (1/6th or 1/8th fraction.)
• The rental pool provides you an opportunity to earn income from the rental of the property. Rental income from all the fractional villas is pooled and the net income is split 50/50 between the owners (prorated) and resort manager. It is a requirement that all fractional villas be placed in a rental pool.
• HOA Fees are US $1.00 per square meter per month and include all corporate, administration, utilities, cable and internet, landscape maintenance, reserves for external painting and roof, common area maintenance, security and management. HOA Fees are due biannually (every 6 months).
• In addition to the HOA Fees, 1/6th or 1/8th of the property insurance estimated at 1.15% and property tax at 0.2% of the value of the unit is payable annually.
Whole Villas
• As a whole villa owner you may choose to live in your villa and become a member of our Kittitian Hill sustainable community or place your villa in the Kittitian Hill villa rental programme. In this programme every year you can decide when you want to use your villa providing you commit at least 24 weeks to the rental programme of which 6 weeks must be during the High Season.
• HOA Fees are US $4.00 per square meter per month and include all administration, utilities, cable and internet, landscape maintenance, reserves for external painting and roof, common area maintenance, security and management.
• In addition to the HOA Fees, property insurance estimated at 1.15% and property tax at 0.2% of the value of the unit is payable annually.
All properties
• Owners are eligible for membership to the Kittitian Hill Golf and Tennis Club. Members are entitled to preferential access to the Golf Course, tennis courts, fitness centre and many other resort amenities. Membership is mandatory for all property owners and costs US $2,100 per year (complimentary for investment option).
• As a Kittitian Hill property owner you are eligible to become a member of the exclusive Preferred Residences Exchange Programme. This complimentary programme allows members to exchange the use of their property at Kittitian Hill with other luxury resorts around the world.
Historically in the Caribbean High Season is from December 15th to April 15th. The Resort Operator of Kittitian Hill reserves the right to set the resort calendar which defines high and low season each year.
The Lifestyle Option Process
Selection and Reservation of The Property
The client selects their property, signs a reservation agreement and pays a non-refundable reservation deposit of $5,000 (deductible from the Purchase Price) to the developer, Belmont Resorts Limited.
Purchase Documents
Upon receipt of the signed reservation agreement and deposit, the developer returns the executed reservation agreement to the client along with duplicate originals of the purchase documents.
Contract and First Payment
The client completes the purchase documents and arrangements are made for signing and exchange of contracts. At exchange, the client makes the first payment of 25% of the Purchase Price to the developer.
Property Construction and Handover
Construction is commenced and Stage payments are made to the developer as follows:
• 30% paid on completion of the foundation
• 30% paid on completion of the roof
• 15% (less reservation deposit) on practical completion. The owner receives Certificate of Practical Completion and Certificate of Title. Handover takes place.
Throughout the construction process, the Kittitian Hill Concierge notifies the owner of the various stage payments and keeps them informed of progress.