When will management of Blackstone Mountain Lodge begin as a resort?
It will be up to the Unit owners in accordance with the proposed Condominium Bylaws to engage Bellstar Hotels & Resorts to manage the property on an optional basis. The developer has negotiated an agreement with Bellstar Hotels & Resorts in anticipation of this opportunity being considered by the purchasers program.

What happens if my Unit is never rented?
If the owner decides to opt into the management agreement and pool the revenue, then it will not really matter if your Unit was not rented. If your Unit is part of a rental pool, then all revenues would be shared equally amongst the Units in the rental pool. No matter whose Unit is rented, you would share in the income on a monthly basis depending on your personal use. For instance, if you use it for five nights, you will be allocated revenue for all except five nights of the month. Expenses will always be allocated based on all nights of the month. Revenue distribution will be factored based on the individual retail value of each unit.

How do I book my own Unit?
All reservations will be made through the resort’s reservation service.

It is important to book as far in advance as possible especially during the busiest seasons and holidays. For bookings made only a few weeks or days in advance, we will make your own Unit available to you providing the property is not fully booked, there are not longer term guests already occupying your Unit, or we are able to provide the same type of Unit to a guest already booked into your Unit.

If the property is operated as a resort with all revenue pooled, then it will be necessary for you to reserve specific days or weeks for your own use well in advance. In April and October of each year, the manager will send out an owner reservation form for you to complete and return within 30 days. The April form would deal with the subsequent November through April period and the October form would deal with the subsequent May through October period. You would indicate the days and weeks that you, your family or friends are committed to using your Unit. Of course, you will always be able to book your Unit on a short notice basis subject to the conditions outlined in the above paragraph.

Is a parking stall included in the price of a Unit?
Parking stalls are part of the common property that you share as part of your purchase. Parking stalls are not allocated to specific Units.

Do I have to pay for parking when I stay at my Unit?
There is no charge for parking.

How long am I locked in for?
These are strata titled units you can sell at any time.

What are the tax benefits of the purchase?
The tax benefits of this purchase would be similar to the tax benefits of owning any rental property regarding Capital Cost Allowance, deductibility of mortgage interest, accounting costs, etc. However, as each person’s situation is different, we strongly recommend that you consult with your own personal tax advisors.

Are pets allowed in the resort?
You may have pets if you elect to allow pets in your Unit. If you make this election, resort guests will also be allowed to have pets when staying in your Unit. There will be an additional cleaning charge for pet owners.

Is smoking permitted in the resort?
Smoking will not be allowed in any Unit or building. Smoking will be allowed outside of the Units providing the second hand smoke does not interfere with the enjoyment of the Units by other guests.

Can I leave some of my personal belongings in the Unit and are there lockers or something similar for owners?
Yes, you can leave packaged and dry goods in your Unit. Each Unit has a small locking closet or cupboard for each owner’s use. Since your Unit may be occupied by someone else when you would like to use it, it may not be possible to always access your things when you want to.

Who insures the furniture in the Unit? Who is responsible for replacing something in the Unit if it is damaged or stolen?
The manager of the resort will, on behalf of the owners, take out and maintain insurance. Owners and guests of the resort will be held accountable during their stay. As part of the resort operation, ongoing maintenance and repair of your Unit will be part of the operating budget. Wear and damage beyond normal usage and missing items will be charged to individual owners and guest.

Does my Unit have new home warranty coverage?
The developer will arrange for warranty coverage through a recognized insurer.

If there is a rental pool for the property, the manager will provide monthly financial statement and annual audited financial statements. The owners share of the net revenue (60% of the rental achieved) then pooled and factored on a monthly basis.

Will my mortgage payment be covered by the income?
Whether your share of the resort income will cover your mortgage payments depends on the amount of your mortgage payments, the amount and season of personal use you choose and the financial performance of the resort.

Do I pay the mortgage company myself or does the manager of the resort look after that and send me the net proceeds?
Each owner will make his/her own arrangements with his/her lender in this regard.

Will I get a yearly statement for tax purposes with all deductions and income worked out for me?
Yes, the appropriate statement will be sent to you each year.

Is there a capital replacement program in place to update and maintain furnishings, fixtures and equipment?
Yes. The Manager will, based on the actual participation of the rental pool, and within the first year of the operation provide the estimate of the renewal monthly deduction of the resort’s revenue to be banked each year as a reserve to cover the cost of replacing furnishings, fixtures and equipment in the Units and to make major capital improvements and repairs to the building exteriors, facilities and the site when required and approved.

I am an out-of-towner owner. How do I know if management is doing its job and the resort is well looked after?
If resort management of a rental pool is implemented, an Owners’ Committee will be established to review budgets and to represent the owners in dealings with the manager. The owners will receive monthly statements and annual audited statements with respect to the operation of the resort.

Can the owners change the management company?
Under certain circumstances, the Condominium Corporation as a whole can decide to change the resort management company.

Will there be regular meetings for owners and how often?
There will be annual general meeting of the owners as described in the proposed bylaws of the Condominium Corporation. Meetings of the owners can also be arranged pursuant to the provisions of the management agreement.