Rental Program Provides Income and Tax Benefits, Resort
Amenities and Services!
The following information provides
an overview of the resort rental program
and Resort Condominiums International (RCI) vacation exchange
program operated by Indian Point Resort, LLC for Indian Point
condo unit rentals is split 55% to the condo owner and
45% to Indian Point Resort. Travel agent commissions, credit card transaction
fees, discounts and refunds are deducted from gross rents prior to this split.
The owner is responsible for certain unit expenses including utilities, periodic deep cleaning,
maintenance, repairs and replacements of the unitís interior and furnishings. In addition,
when owners use or space bank their unit they are responsible for towel service
and a cleaning fee that is currently $55 per stay. Owners may use their unit or
space-bank weeks with RCI to exchange their unit at any time with advance
reservations, provided the unit has not been previously booked by the rental
program. Use of the RCI exchange program requires a current RCI membership and
payment of RCIís exchange fees.
Indian Point Resort is
responsible for marketing, reservation services, front desk services,
housekeeping labor and cleaning supplies, linens and laundry service, rent collection and
disbursement of ownersí expenses. Also, for condo units in the rental program, Indian
Point Resort makes available to condo owners and rental guests the resort swimming
pools, game room, playgrounds and lawn games free of charge. Dock slips,
pontoon boats, ski boats, bass boats, fishing boats with motors and waverunners
may be rented at the resort docks.
Condo owners receive a monthly
accounting of all reservations and expense disbursements from our computerized
resort management system. This monthly reconciliation is accompanied by a
check for net proceeds due the owner or a statement for any balance due the
Historical statements of average
income and expenses for nightly condo rentals are available upon request by
calling or clicking on the link below.
Condo owners can deduct condo unit
expenses from the rental program to reduce taxable income. Additional tax
saving deductions can include mortgage interest and depreciation on the condo
unit and furnishings. The purchase of an Indian Point Resort Condominium
can also qualify for a 1031 real estate exchange to tax-shelter proceeds from
the sale of other rental property.
Indian Point Resortís rental
program provides Indian Point Condominium owners with the opportunity to
maximize the combined benefits of rental income and personal vacation use. We would be
pleased to put our 35 years of resort marketing and management experience to
work for you.
Discover how to make your vacation dreams come true...
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