|Development Name||SAAI Residence|
|Location||Sai Thong, Prajuab Kiri Khan, Thailand|
|Land Area||36 Rai|
|Total Plot||21 Plots|
|Common Area Fee||THB 80|
|Sinking Fund||THB 800|
Your villa is yours to enjoy. You may use your villa for as little or as much time as you like, whether that be one week or 11 months. When you are not in residence, you may place your villa in our Villa Rental Programme.
Upon enrolment in the Villa Rental Programme, we will ask you to provide us with a schedule of when you would like your villa to be included in our inventory over the next calendar year. If you change your mind, you may terminate with six months prior written notice and your agreement to honour any previously made bookings. The Villa Rental Programme is compulsory for any existing (refurbished) villas. Joining the Villa Rental Programme allows you to enjoy your Private Residence and offset the ownership expenses with the income generated by the villa rental when you and the family are not in the resort. Every quarter, Soneva will calculate the gross revenues generated by your villa. The gross revenues will exclude any applicable sales commission and gross taxes. From gross revenues, Soneva will take 10% to pay for those expenses associated with the rental of your villa, such as housekeeping, laundry and the daily room amenities provided to villa guests, and marketing expenses.
The remaining 90% of room revenue will be allocated between you and Soneva on a 50/50 basis. From your 50% share, annual ownership expenses equivalent to 1.5%* of the purchase price are deducted. A further 0.5% of the purchase price will be deducted annually and set aside. The resulting net revenues can then be remitted to you (subject to applicable Maldivian withholding and income taxes, currently at 15%). You can also keep the net revenues in-resort to be applied against future spending so that you will not have to pull out your credit card to pay for any additional holiday expenses incurred in-resort such as your food and wine, resort experiences and spa activities.