Buying and Selling in Seascape Resort – Requirements
In total, there are 278 residential units at Seascape Resort, consisting of two and one bedroom units. If you choose to buy a piece of property in Seascape Resort, there are two things that you should be aware of: 1) the rental program 2) the 90 day stay limitation. Below we’ll describe both in more detail.
The Seascape Resort Rental Program
Seascape Resort offers an optional rental program which property owners can opt into at any time(?). The benefits of joining the program include full access to the resort’s services, amenities, as well as an owner’s rewards program. You can see a full list of the benefits included in the rental program here. Additionally, when a part of the program your property will be marketed and promoted, helping keep it occupied.
At the time of writing (August, 2019), the resort charges 50% of annual gross income for the rental program. This amount will be deducted from the gross revenue and is used to cover: HOA dues, a Management Fee, a Maintenance Fee, and contributions to the Long Term Reserve Fund.
You can see the average annual net income of different sized units here. Note: The net income does not reflect property taxes.
90 Day Stay Limitation
No one is allowed to stay in Seascape Report for more than 90 days per year. This means, regardless of your decision to participate in the rental program, you are legally only allowed to stay in the resort for 90 days per year. Therefore, you cannot claim a unit in Seascape Resort as your primary residence.
Opting Out of the Rental Program and HOA Dues
If you opt out of the rental program, you will have to pay monthly HOA dues. According to the resort, the monthly cost will vary depending on the square footage of your condominium, but monthly dues will range from approximately $901.00 and $1075.00 at the time of writing.
These fees cover:
- Insurance (Fire, Hazard, Structure & Liability),
- cable/dish T.V.,
- common area and your individual unit’s electricity,
- common area your individual unit’s gas,
- exterior painting,
- minor repairs & maintenance,
- road maintenance,
- pest control,
- refuse disposal,
- security patrol,
- telephone service,
- swimming pools, spas, and fitness centers
- sewer and water.
Buying and Selling Within and Outside of the Resort
Seascape and Rio Del Mar feature some of the most beautiful real estate in the county. Take a look here if you’d like to see properties for sale in and around the Seascape area. If you have any questions, please give us a call: (831) 600-6550.