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Jorge,
Yes I would definitely let my close friends stay at my villa...hell, I'd probably let everyone I know stay.
My husband and I kick that same question around everytime we go to St. John....when he gets that itch to buy property there....How much could we get to go to St. John if we did own a villa? My personal take is that we could go there 2-3 times a year, rent the most luxurious villa and not even come close to the expense (and headaches) of owning a villa. I know...I'm such a kill joy.
luvya....mia
Yes I would definitely let my close friends stay at my villa...hell, I'd probably let everyone I know stay.
My husband and I kick that same question around everytime we go to St. John....when he gets that itch to buy property there....How much could we get to go to St. John if we did own a villa? My personal take is that we could go there 2-3 times a year, rent the most luxurious villa and not even come close to the expense (and headaches) of owning a villa. I know...I'm such a kill joy.
luvya....mia
It takes both the sun and the rain to make a beautiful rainbow. --Unknown
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California Girl
Hey Jorge, my best friend in the whole world (heh, heh!) - Of course I'd let my friends stay for free! The question is, are you talking about WITH you or when you aren't there? I think WITH me, yes, free. WITHOUT me, I'd charge a SMALL fee. Just something to help cover the water, electricity usage, etc.
If I had my own villa, at this age, I'd like to spend 6 months a year there, at least, then 6 months in California. Follow the sun, baby! (and avoid the hurricanes!)
If I had my own villa, at this age, I'd like to spend 6 months a year there, at least, then 6 months in California. Follow the sun, baby! (and avoid the hurricanes!)
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Xislandgirl
- Posts: 4163
- Joined: Tue Aug 08, 2006 4:03 pm
- Location: Slightly left of center
After I moved back to the states, I went back to visit and stayed in a "friends" condo. He had me pay the cleaning fee.
No matter how good a friend is, this house will be an investment. I can not see giving away a piece of your investment for free.
I think that I would offer the house to very,very close friends for a small fee. $500 for the week maybe. Then plain old friends (and forum friends...hint hint) I would give a discount off. Maybe 25% or 30%.
I would also make them find the house themselves, thereby saving paying someone to do the pick up. Another thing to consider is that some rental companies take a percentage of rentals. If you are giving it away, how do they get paid?
No matter how good a friend is, this house will be an investment. I can not see giving away a piece of your investment for free.
I think that I would offer the house to very,very close friends for a small fee. $500 for the week maybe. Then plain old friends (and forum friends...hint hint) I would give a discount off. Maybe 25% or 30%.
I would also make them find the house themselves, thereby saving paying someone to do the pick up. Another thing to consider is that some rental companies take a percentage of rentals. If you are giving it away, how do they get paid?
I've thought about this off and on since 1997. I took a serious look at one point and realised that I would be happier as a renter, for a variety of reasons.
I would let my friends stay in my villa for what it costs me or what I would have been paid by the rental agency, whichever was lower. A villa purchase would be an investment for me and the time there has a real economic value. That being said, I would not charge my friends to stay there if I was staying there as well.
An interesting question is, what is the opportunity cost of not renting your villa for a week? There is definately a high season/low season difference in price. Even if a villa would sit empty for a week there are costs associated with utilities when the villa is occupied. Determining the true economic cost per week to a villa owner would take a couple of years. Coming up with a model to estimate the cost sounds like a good master's thesis in finance - combining all the fixed, variable and recurring with depreciation and taxes would be a chore. There's a good reason company's report EBITDA - earnings before interest, taxes, depreciations and allowance. That ITDA eats up a lot of money.
If I owned a villa I expect I would be down twice a year, plus last minute jaunts when it was unoccupied. One pre-scheduled trip would be in the winter time, likely January (I want that big Christmas income). The second pre-scheduled trip would like be for two or three weeks in August. The August trip would be a chance to freshen the place up and its a slower month business-wise for me.
Of course, if someone I know had a rental villa on-island I would certainly patronize it! We're renting Eaglesnest for Halloween week largely because we've met the owners and liked their energy and story behind the house.
Cheers, RickG
I would let my friends stay in my villa for what it costs me or what I would have been paid by the rental agency, whichever was lower. A villa purchase would be an investment for me and the time there has a real economic value. That being said, I would not charge my friends to stay there if I was staying there as well.
An interesting question is, what is the opportunity cost of not renting your villa for a week? There is definately a high season/low season difference in price. Even if a villa would sit empty for a week there are costs associated with utilities when the villa is occupied. Determining the true economic cost per week to a villa owner would take a couple of years. Coming up with a model to estimate the cost sounds like a good master's thesis in finance - combining all the fixed, variable and recurring with depreciation and taxes would be a chore. There's a good reason company's report EBITDA - earnings before interest, taxes, depreciations and allowance. That ITDA eats up a lot of money.
If I owned a villa I expect I would be down twice a year, plus last minute jaunts when it was unoccupied. One pre-scheduled trip would be in the winter time, likely January (I want that big Christmas income). The second pre-scheduled trip would like be for two or three weeks in August. The August trip would be a chance to freshen the place up and its a slower month business-wise for me.
Of course, if someone I know had a rental villa on-island I would certainly patronize it! We're renting Eaglesnest for Halloween week largely because we've met the owners and liked their energy and story behind the house.
Cheers, RickG
S/V Echoes - Coral Bay - St. John, VI
The way I look at it the villa is a business enterprise. Jorge, you are a contractor/builder, right? If your good friend wanted you to build him a house, would you do it for free?? Of course not. A business need to make a profit or what's the point of all the headaches.
If I had a house in STJ, I'd be there 2-3 times a year. I'd let family members that I love stay there at the break even point of expenses. Friends at a discounted rate and everyone else would pay what the market allows. It's a business. The only people that I'd take a lose on would be my kids and you don't have any so that's not an issue. But I'm willing to be adopted.
If I had a house in STJ, I'd be there 2-3 times a year. I'd let family members that I love stay there at the break even point of expenses. Friends at a discounted rate and everyone else would pay what the market allows. It's a business. The only people that I'd take a lose on would be my kids and you don't have any so that's not an issue. But I'm willing to be adopted.
I'd probably go crazy trying to get there more often than is feasible.
I'd probably take the chicken way out and tell family and friends that my contract witht the rental agency precludes comps and discounts (then let select folks have them).
This may be subject for a different thread altogether, but if you have/came in to a lot of $$$, to the point that you could buy/build a villa and own it outright, would you/could you afford to have it not be on the rental market and just be available full time for your use and for the use of others you allow to stay there?
If you did own it outright, would you try to live there full time, part time, or just visit frequently?
I'd probably take the chicken way out and tell family and friends that my contract witht the rental agency precludes comps and discounts (then let select folks have them).
This may be subject for a different thread altogether, but if you have/came in to a lot of $$$, to the point that you could buy/build a villa and own it outright, would you/could you afford to have it not be on the rental market and just be available full time for your use and for the use of others you allow to stay there?
If you did own it outright, would you try to live there full time, part time, or just visit frequently?
Come see us!
Perfect world, I would live in St John November through April, my close friends and family would have an open/free invite while I am down there! May through October I would be in Maine! Off season I would let my best friend and sister in law that work hard and do not have a lot of money, stay for free, my friends/acquaintances with money I would rent at full price! I would be there during the high season, but I would try and rent to pay the operating expenses during low season. But as we all know, it all depends on the situation!
1st. Would you let your close friends stay for free if you owned a villa on St. John?
I would definitely let my friends stay for free and would extend an invitation for them to come down for a visit whenever we were on island.
2nd. How many times a year would you use your own villa? As often as possible, until I could eventually get myself down there at least 6 months out of the year. Ali~
I would definitely let my friends stay for free and would extend an invitation for them to come down for a visit whenever we were on island.
2nd. How many times a year would you use your own villa? As often as possible, until I could eventually get myself down there at least 6 months out of the year. Ali~
STJ - I "get it"
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cypressgirl
- Posts: 2178
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nothintolose
- Posts: 1960
- Joined: Mon Aug 07, 2006 10:36 pm
- Location: New Orleans, LA
Jorge - I was gonna post earlier about "friends" but had to run out.
I used to live on the parade route here and it was amazing how many "friends" I had that I didn't even know I had till Mardi Gras time
I would have no problem telling my close friends that they could stay for free at my villa, for friends that are not my closest friends, I would probably offer either a discount or that they cover expenses for what it would cost (i.e. electric bills, water consumption, cleaning costs, etc.).
As for how often I would go down there...as often as I could but not too much to where I didn't appreciate it.
One thing I wouldn't want is for it to become too much of a business thing to where I wouldn't enjoy it anymore.
nothintolose
I used to live on the parade route here and it was amazing how many "friends" I had that I didn't even know I had till Mardi Gras time
I would have no problem telling my close friends that they could stay for free at my villa, for friends that are not my closest friends, I would probably offer either a discount or that they cover expenses for what it would cost (i.e. electric bills, water consumption, cleaning costs, etc.).
As for how often I would go down there...as often as I could but not too much to where I didn't appreciate it.
One thing I wouldn't want is for it to become too much of a business thing to where I wouldn't enjoy it anymore.
nothintolose
That's my problem Jorge - I'm friends with everyone!!!! I'm just one of those people who loves everyone I meet. Even the idiods out there I try and find excuses for. I always get excused from jury duty - no Prosecutor's ever wants me on their jury - hehehe.
Needless to say, I would let everyone stay for free. That's why I'll never be rich monetarily. But my heart is always filled to the max
XOXO
Bug
Needless to say, I would let everyone stay for free. That's why I'll never be rich monetarily. But my heart is always filled to the max
XOXO
Bug