July 2015
Dear Unit Owners,
A global travel revolution is underway. Technology, the internet, and smartphones have changed the way people travel and explore the world.
We’re becoming savvier in our vacation plans, optimizing budgets through the use of online portals for both airlines and accommodations, which provide us more freedom and flexibility.
One of the greatest innovations in recent years is the proliferation of short-term lodging in private homes and condominiums. Popular online booking sites such as AirBnB, Room orama, or Travel mob have made global room rentals quick, easy, accessible, and affordable.
Century Homeowners Trends
Our own research has shown that Century unit owners are already offering their units online for transient stay. We recognize that this short term rental phenomenon for your private homes, will become even more prevalent in the next few years and we at Century Properties have decided to help facilitate this practice to help improve the experience for both owners and short term guests.
Centralizing the lease of your units and marketing their availability through our own portal, as well as existing portals such as AirBnb, will not only help make it profitable for you, but hassle free as well.
Protecting Your Investment
As you are aware of the current set up, agreements with transient that stay in private unit are usually without formal contract and unregulated. We would like to protect you from potential risks to the security of your homes. By implementing a simple registration process, we can effectively screen visitors. We will be able to know which units are available for rent and we will have a monitoring system in place to ensure that we know who the guests are and can legitimize their access to our properties and facilities. This will further improve the security, comfort, and integrity of our community.
SIGLO Suites is an exclusive, specialty management and leasing service from Century Properties. We
help Century unit owners manage their units and effectively lease them to transient customers looking for short, medium, and long term rental spaces.
Our services range from:
Check-in and check-out processing Housekeeping and maintenance Asset management Furniture accounting Repairs Utility payments Billing …and more
Bookings will be facilitated by third party services such as AirBnB, Agoda, and Booking.com. SIGLO Suites will make recommendations to unit owners who are free to pursue the Online Travel Agency (OTA) of their choice.
SIGLO Suites will also perform the digital marketing of available units and their respective listings on
social media.
The name SIGLO means “Century” in Filipino and Spanish. It is another way for us to express our commitment to long term excellence and creating bright, meaningful returns for our buyers and investors.
That is our fundamental goal: to connect you with reliable rental customers so you can maximize your unit’s earning potential. We wish to facilitate this in a manner that is safe for the community, secure for owners, and true to the high-quality nature of your property.
SIGLO Suites
Your home is in good hands with SIGLO Suites. Our hospitality and leasing experts will assist you in all aspects of renting and servicing your property to achieve the best available rental rates, whether for short- or long-term rentals.
SIGLO Suites Free
As the name suggests, this plan is open and free to all Century unit owners. SIGLO Suites will provide a full registration and check in/check out process for when your gusts arrive, as a refined security measure similar to hotels and serviced apartments.
Booking Reservation and Key distribution will be managed solely by the respective unit owners.
SIGLO Suites Free is a mandatory requirement for all unit owners who rent out their units via online booking sites and other channels. This is to maintain the security of the building and its tenants. While visitors are free to come and go, there must be a valid monitoring process to make sure that the community remains peaceful, pleasant, and safe.
All unit owners who wish to start or continue renting out their unit must avail of this complimentary service.
SIGLO Suites Premier
This plan includes all the services offered in the SIGLO Suites Free package with additional unit management services:
(a) Key control and distribution (b) Pre and post stay room inspection
(c) Guest credit card authorization guarantee (d) Optional housekeeping and engineering services
A service and administration fee will be charged based on a percentage of room revenue generated per room, per night. Details can be found in the attached FAQs.
SIGLO Suites Prestige
This is a full asset management service available to unit owners. SIGLO Suites, on behalf of unit owners, will manage the full representation and leasing process, such as;
(a) Assistance in the management of listings on distribution portals such as Air BnB, Roomorama and Travel Mob to name but a few.
(c) Provide professional housekeeping and maintenance services (d) Assist owner in renovation and fit-out of units
A fee will be charged based on a percentage of room revenue generated per room, per night. There will also be a one-time fixed asset management fee. Details can be found in the attached FAQs.
Basic Unit Requirements
In order to maximize the salability and market positioning of the units, as well as ensure consistent standard room rates across all unit types, it is highly recommended, but not mandatory, that all units meet our basic requirements.
It is particularly important that linens, towels and other decorative items are provided to enhance the overall guest experience. This in turn will increase the likelihood of generating a higher and more consistent selling rate.
With SIGLO Suites Prestige we can assist unit owners with fit-out procurement services as and when required.
Timeline
SIGLO Suites Free, SIGLO Suites Premier and SIGLO Suites Prestige services will be launched in early
September 2015 and be initially available for Knightsbridge and the Azure Urban Resort Residences. Unit owners at the Acqua Private Residences can avail of these services in the 4thquarter of 2015, followed by the Milano Residences in the 1st quarter of 2016.
Commitment to Excellence
SIGLO Suites is handled by a seasoned team of hospitality and leasing professionals. Our commitment is
to assist unit owners in optimizing their property investments and helping them tap into the growing short, medium, and long-term leasing markets.
We will work closely with the existing Property Management and Concierge Teams to ensure that all units under the program are handled professionally, with attention to detail and exacting care, so as to present the units in prime condition and ready for occupancy.
Our long-term goal is to effectively place all SIGLO Suites units into the market in a consistent and meaningful way – to reach customers in and around Metro Manila and generate a healthy and regular
Expected Returns
We are unable to offer unit owners guaranteed returns.
It is of note that the demand for professionally managed apartments has grown dramatically in the last 10 years. The Philippines, Metro Manila in particular, has experienced significant growth in the service apartment market and short term rental business. The continued growth in tourism and business arrivals for domestic and international travelers will only boost the market.
As opportunities continue to expand, SIGLO Suites will help owners set the most applicable rental rates based on regular market surveys. We have attached a copy of our recommended, but not mandatory, rate structure for your perusal.
Next Steps
We are very excited to serve you with the SIGLO Suites leasing initiative. Please register your initial interest by returning the attached registration form via email: info.siglosuites@century-properties.com
or at the PMO Office.
Or you may visit www.siglosuites.com and complete the registration form there. Submissions must be no later than August 17, 2015.
Once we receive your expression of interest, we’ll send you a full information package that outlines the details and conditions of the program together with all required documentation.
We look forward to your interest and participation. Sincerely,
TIM HALLETT
Chairman/ President SIGLO Suites, Inc.
