2008 Nightly Rental Program

For those Owners who have participated or are currently participating in the Nightly Rental Program, we conduct an analysis on an annual basis to ensure its effectiveness and productivity. This year we are striving to further improve the Rental Program and return a higher level of rental and revenue production for all Owners who are participating. To facilitate our objectives of returning a higher level of rental and revenue production, the following changes have been implemented:

Inventory Recovery Program | Rental Recovery Program

The Inventory Recovery Program / Rental Recovery Program(s) were originally created to offer an option in the Rental Program to simply recover maintenance fee expenditures for an Owner and his unit. However, these programs no longer fulfill this obligation and do not offer an equitable rental option to an Owner. These programs are now discontinued and are no longer available as an Owner rental option in 2008.

Fixed and Float Week Programs

Fixed and Float Week Rental Programs remain available for Owners. As in the past, Owners are responsible for allocating points to participate in the Float Week Program or formally reserving a unit for participation in the Fixed Week Program. Acceptance into the Float Week Program and Fixed Week Program is based on Ownership status and good standing. Banked points may not be transferred to next Use Year for utilization in the Rental Program; only points and rental agreements applicable to Use Year are qualified for usage in Rental Program.

Point Discounts and Bonus Points

An Owner may place their unit and respective point value with the Nightly Rental Department as a fixed week or float week. However, point values must maintain their full and complete value for the unit type and season. Also, any bonus points awarded to an Owner must be used for travel by the Owner. Bonus points may not be allocated or banked to be utilized in the Rental Program. Point discounts have been discontinued in the Rental Program and are no longer available to Owners in 2008.

Contract Limits, Term, and Cancellation

The Nightly Rental Program is available to all Owners assuming good standing status with installment note and maintenance fee payment requirements. The Nightly Rental Agreement has a minimum term of 6 months and a maximum term of 12 months. The Agreement applies to one unit only and must be for all seven nights. Owners must reserve points earmarked for the Rental Program in their respective Owners Association only. Participation in the Rental Program is limited to one Agreement per month, per Owner; no more than four Agreements per year, per Owner; aggregate.

Agreements may be renewed but not extended. Extensions to Agreements are prohibited. Float Week Rental Agreements may be cancelled upon 30-days written notice by either party. Owner must pay applicable corresponding cancellation fee of $29.00 to terminate the Float Week Rental Agreement, if initiating termination. Owner or Agent may cancel a Fixed Week Rental Agreement at any time; Owner must pay cancellation fee of $29. Fixed Week points are refundable to Owner if cancelled 60 days or greater from scheduled reservation arrival date. Points are non-refundable to Owner if Fixed Week Rental Agreement is cancelled 59 days or less from scheduled reservation arrival date.

Thank you for choosing Grand Crowne Resorts’ Nightly Rental Program. We look forward to serving you in 2008! Feel free to contact us should you have any questions.

Nightly Rental Department - 417.676.0111 or 1.800.313.8530 or condo@grandcrowneresorts.com
Owner Services Department - 1.866.894.9700 or helpme@grandcrowneresorts.com