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1 King West Hotel and Residence 
1 King West, Toronto
Developer: Stinson Properties, Projectcore

1 King West Condos (Stinson) - Real Estate -

Discussion in 'Real Estate - Individual Project Threads' started by Woodbridge_Heights, Dec 30, 2008.

  1. Woodbridge_Heights

    Woodbridge_Heights Senior Member

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    Are there any 1KW owners on this board? I was wondering what their experience has been with this building. Particularly the option of putting your unit in the hotel pool.

    Do you only get paid when your unit is occupied? How well are the units being occupied (i.e. do they stay empty for extended periods of time)? Have you found that the payments are sufficient to cover your expenses such as Mortgage/Maintenence/Property taxes?

    How does the system work (coles notes version is fine). Do you have to put up the unit to the hotel for a week, a month or more at a time? Say for example you wanted to use the unit for a couple of weeks, month. Are you easily able to take it off the list?

    What about maintenance etc while in the hotel pool? I assume all cleaning is taken care of by the management do you have to furnish the place yourself or do they have their own furnishings that they bring in/use for when it is a hotel?

    The whole thing seems interesting to me as a way to get some ownership of something, and earn an income at the same time. Most of the smaller and lower cost units seem explicitly designed to be used in the condo pool as they lack a bedroom and any space in general.

    All in all has your experience been positive, barring you know who?
     
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  2. Solaris

    Solaris Senior Member

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    I think Harry can respond nicely to your questions on this one ~

    I am not a 1KW owner, but from what I understand back from visiting the sales office, you get paid when your unit is in the 'hotel pool', regardless if it is occupied or not, all units in the 'pool' for that night will share the hotel room revenue that night, hence higher occupancy rate = more revenue per owner

    I think this is the same system as the Intrawest Resorts in Blue Mountains + Mont Tremblant
     
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  3. Flux Capacitor

    Flux Capacitor Active Member

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