We are selling limited number of luxury apartments that vary in their size (from 47 m2 – 82 m2) and are part of NOVI SPA HOTELS & RESORT. This unique model of purchase allows its owners to generate income from their property and, at the same time, allows them to use their apartment, plus many other benefits.
This purchase model is based on concept that future owners at the time of signing the Purchase Agreement will also sign Lease Contract by which they are letting back their newly purchased property to the Seller for the next 20 years.
Apartments in villas C3, C4, D5, D6 and D7 can be purchased based on this model only, due to their future high letting possibilities.
With the Purchase Agreement one becomes owner of the chosen apartment and is registered as such in Land Register in ratio 1/1. In Purchase Agreement all purchase conditions are defined, all obligations on the part of the Buyer and Seller, right of pre-emption, etc.
The duration of Lease Contract is 20 years. This Lease Contract is completely transferable which means that the owner may sell his apartment under condition that the new owner takes over all rights and obligations of the same.
The owner must become an entrepreneur and register as a taxpayer in Croatia. By doing this all taxes concerning the purchase of apartment (PDV) are being waved as the property has become a mean of doing business in Croatia.
Under this Lease Contract, the income is being guaranteed as follows: for the first 2 years, owner will get 6% from net purchase price. After the second year and for the rest of Lease Contract period, all apartment owners from villas C3, C4, D5, D6 and D7 become members of joint ‘pool’. Each year they share 25% of total rental income that have proceeded from the rental of their apartments. Each owner gets his share according to the percentage of his own share in regard of the total apartment’s value in above-mentioned villas.
In addition, the owner each year gets 3 weeks for personal usage (1 week in season 1, and 2 weeks in season 2).
1 week from season 2, can be exchanged in season 2, as follows:
• two weekends (Friday – Monday);
• two weekdays periods (Monday – Friday);
• combination of the two above: one weekend (Friday – Monday) and one weekdays period (Monday – Friday).
For season 1, (summertime, Easter, Christmas, New Year and such) owner must make reservation for himself at least 3 month in advance, and for the season 2 (the rest of the year) he must make reservation for himself at least 3 weeks in advance to be able to use it at the desired time.
It is in owner’s best interest to make reservations as soon as possible.
During the time when the owner is using his apartment, a fee of 10 Euros/day/person is required (for taxes, cleaning and such costs).
The owner may rent additional weeks if he wishes to, for discounted price (15% discount in season 1 from the tour-operator’s prices, 25% discount for the season 2, and he can also get a last minute discount, up to 75%).
If the owner wishes to do so, he can obtain a special discount for his friends who wish to stay at NOVI SPA HOTELS & RESORT. For the season 1 he can obtain on their behalf 10% discount and for the season 2 he can obtain 20% discount on their behalf, from the tour operator’s price.
The owner is entitled for 10% discount on all services that are available in the resort.
This Agreement is necessary to assure that the resort would be kept up to the required standard so that all the owners are able to entirely enjoy their property at all times, together with all facilities they have the right to use by acquiring their apartment. In short, by this Agreement all rights, obligations and responsibilities for owners and the Managing Company are regulated, which services are being given, etc. In addition, in regard to the fact that the owner uses his apartment only 3 weeks per year, he is obligated to pay the maintenance fee only for those weeks he is using, in ratio 3/52. It will be the responsibility of the Management Company to pay for the rest of the maintenance fee, in ratio 49/52.
The payment of maintenance fee is waved until 1st January 2011.
From 1st of January 2011. maintenance fee will be payable according to the real maintenance cost.
Each year 0,25% from net price is payable to Reserve Fund by each owner (this Fund serves for unpredictable higher cost of maintenance of resort and/or any other unpredictable costs which appear from time to time).
This Agreement determines the relationship between owners apropos co-owners of the entire property that is a part of resort, the rights and behavior obligations within the resort.
Tel: +385 (0) 51 6684-66
Fax: +385 (0) 51 6684-67
