Tuckaway Shores Resort, known as a condo-hotel, is both a condominium and a hotel. Ouroceanfront two-room suites make the “perfect” vacation home for you, your family and yourfriends to enjoy. When you aren’t using it, you have the ability to rent your unit on a “nightly”basis because of the hotel zoning laws. Tuckaway Shores is not a time share; you retain 100%ownership of your unit.Due to its exceptional reputation, great oceanfront location, secluded sandy beach, superiorhousekeeping and maintenance, and appealing nostalgic “Old Florida ambiance”, TuckawayShores enjoys an above average percentage of guests who return time and time again. TheSuperior Small Lodging Association has awarded Tuckaway Shores Resort their coveted “WhiteGlove” Award for superior housekeeping for three consecutive years (2009-2011); the propertyalso received a certi
cate of excellence award from Trip Advisor in 2011.Comprised of thirty-two (32) residential and one (1) commercial unit, owners share equally inownership of the land, buildings, swimming pool and community building. The commonexpenses, including a Reserve Fund, are paid from a per unit $360/month condo maintenancefee, and all maintenance fees are current with no delinquencies. There have never been anyspecial assessments nor are any planned. (The 2012 Condo Budget is available upon request.)The bulk of rental properties in Brevard County cannot legally be rented for less than a ninety(90) day period. However, because Tuckaway Shores is zoned as a hotel, we have theadvantage of being able to rent nightly or for a longer period of time. Owners are able tooperate and manage their unit themselves, engage an independent management company oropt to place their unit in the hotel’s Rental Management Program. A management fee of
ftypercent (50%) of gross income per unit pays for the unit’s operational expenses. Note: Fiftypercent is the ‘norm’ for condo-hotel management. (A Rental Management Agreement isavailable upon request).In addition to the monthly condo maintenance fee, owners are responsible for their real estatetaxes and any repair of their unit or replacement of any furnishings or contents. Real estatetaxes range from approximately $2,000 to $2,500 annually, depending on the location of theunit. (A copy of the 2011 Tax Receipt is available upon request.)Units available for purchase were recently remodeled and the furnishings and decorwere replaced in January 2012. New appliances and two wall-mounted televisionswill be installed at the time of individual unit sale.