The Owners' Statements for yield during the period covering the last quarter of 2021 for Dunas Owners will be circulated this week, with Net Rental Income also being paid where it is due at the same time.
The period for which returns from the use of the Dunas properties covers a period where not all of the resort was open, and indeed some of the period includes the times when we were all emerging from the pandemic, so occupancy numbers were not high for all the properties, and indeed some properties were not used at all.
While some Owners kept their Beach Resort Management Fees up to date during the pandemic - for which we thank you - others did not. As a consequence, Net Rental Income is initially used to offset any overdue fees that remain unpaid. This applies to approximately just under 90% of Dunas Owners. We have taken the decision not to continue to ask for BRM Fees to be paid directly from June 2022, and instead have reverted to the pre-pandemic approach of deducting these from Net Rental Income. In this way we can keep the pools, gardens and other common areas maintained so that TUI and Melia can continue to send guests to holiday at Dunas.
While the global airport difficulties that are well publicised have had an effect on holidaymakers, keeping occupancy lower than we would like, we are expecting the industry to keep recovering and strengthening over the summer months.
Owners who did keep their BRM Fees up do date are far more likely to see income flowing to them this week. We have prioritised returns to these Owners, who have been vital in keeping the resorts maintained ready for re-opening. Remittances take place for those who have kept BRM Fees up to date and have benefitted from occupancy during this week. Where the Net Rental Income for an Owner is below €150, we have not sent the funds, as we are aware that some pension administrators charge a fixed fee for handling revenues, so we will hold these small balances and either use them to cover the next period BRM Fees, or add them to the balance for remittance when more is earned.
What do you need to do immediately?
If you are a Dunas Owner, check you post or e-mail inbox to see if you have received a Statement. If you have not received something by 27th June, please do get in touch to check we have the correct contact details for you, especially if you have moved house or changed e-mail address in the last 2 or 3 years.
When you have received your Statement, if you do not understand it, please do get in touch with your questions.