Construction commenced in September of 2006 and is scheduled for completion in July of 2009.While South Point is conceived to operate as a residence-hotel, owners may choose to keep their unit for private use. Those that prefer to generate rental income may do so by utilizing South Point’s optional Vacation Rental Program.Units shall be individually owned, each with separate legal title registered in accordance with the Registration of Condominium Titles Act of Antigua & Barbuda. Common areas are owned jointly by registered owners; all of whom are members of the Condominium Association. Control, management, use and enjoyment of the condominium property and the common areas will be governed by the Condominium Association By-laws and Management Agreements. The Developer retains ownership of restaurant, laundry, manager’s residence and maintenance areas. The condominium plan demarcates the units as they will exist at completion, as well as creates the subdivision to allow for legal title. Enshrined in the condominium plan are all covenants and by-laws for the condominium. The Condominium Fee is charged to each unit on a monthly basis. South Point Hotel, Inc. Does not profit from, nor earn a commission on this fee; the amount is directly associated with the actual cost of operating the condominiums and maintaining the common areas. Each unit owner will have access to the expense report through the Homeowner’s Association. |
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