Frequently Asked Questions
Provident Hotels & Resorts Rental Program Frequently Asked Questions
Q: What is a Condominium Hotel?
A: A condominium hotel or resort is a facility that is generally designed, constructed and operated as a public lodging establishment offering transient accommodations making available hotel type services to both guests and owners. Different from a typical residential condominium development, condominium hotels gives the residence owner a hands free opportunity to earn rental income when not personally enjoying his/her residence.
Q: What types of services are provided by Provident Hotels & Resorts?
A: Specific services vary by project and location but generally include rental program administration, staffing, front desk reception, check-ins and check-outs, accounting, reservations, telephone switch board, housekeeping, laundry, maintenance services, bell staff, full/limited service restaurant, sales/marketing programs, brochures, property specific website and collateral materials to offer Residences for transient rental to others. Please refer to the individual property Rental Management Agreement for specifics. The scope of our services is intended to make your real estate investment both financially rewarding as well as hassle free!
Q: Is participation in the Rental Program mandatory?
A: Participation is completely voluntary, but the facilities and services are typically developed and utilized best as a transient hotel or resort facility including the many guest amenities and activities designed for the vacation or business traveler. If an Owner chooses to participate in the Rental Program, a separate Rental Management Agreement would be executed between the Owner and Provident.
Q: Are there any limits to my personal use of the residence?
A: Our Rental Programs guidelines are typically very flexible regarding owner occupancy usage restrictions. Generally an Owner can reserve their Residence at any time unless Provident has previously issued a confirmed reservation to a paying guest requesting dates within the same occupancy period. There are no previously established "blackout dates" to be concerned with. Keep in mind however that local city zoning restrictions at certain locations do dictate a maximum number of owner occupancy nights that can be accrued within a twelve month period. Additionally, limitations may also exist within the individual property Rental Management Agreement that maximizes owner usage in order to maintain the integrity of the transient based services being provided.