Meno Mojo Resort – FAQ – Website
Q. Do I own the property?
A. The apartments are sold under a 100 year lease agreement which is in accordance with Indonesian law. The lease agreement is like the “deed” to the property and gives you full entitlement. You may over contract or sell to another party under the same terms of the lease agreement. Transfer of title would incur legal fees.
Q. Can I purchase the property while not in Indonesia?
A. Yes, transactions can be processed via the transfer of signed agreements forwarded to the notary. Once payment is received, the agreement is a legal, working document. At some point in the future, the investor must sign the Hak Sewa copy of the agreement (Indonesian version) in the presence of the Notary which will then be processed and return to you within 24 hours.
Q. Are there any additional charges to pay?
A. like any property purchase in most countries, there are some fees and charges to pay which are as follows;
1. Notary fees = 1% of the transaction amount
2. PPN tax 10% of the transaction amount. This is the same as a VAT or GST Levy.
Q. Can I sell my apartment?
A. Apartment owners may sell to any interested party that accepts the same terms and conditions, as set out by the initial agreement. Legal fees (1% of transaction amount) would be payable by the owner.
Q. can I rent my apartment to other people?
A. The management of the resort is totally responsible for generating bookings / reservations. We are connected with all the major online booking agents such as booking.com, Expedia and many more. We also have agency agreements with over 120 offline agents offering special packages to “value add“ a stay at the resort. The control and management of incoming reservations is vital to avoid double bookings and to also maximize our rental returns through campaigns and other types of promotion.
Q. What is the Calculation method for my Return On Investment (R.O.I.) ?
A. The total rental income is pooled from all the apartments and shared equally among investors.
Q. When and how is the R.O.I. payment sent to me?
A. The R.O.I. payments are calculated on a quarterly basis and disbursed within 21days at the end of the quarter. There are three options for investors to receive their payment as follows;
1. Payment to an overseas bank account of their choice.
2. Establish an Indonesian bank account and draw funds directly from this account. We can assist in establishing an account for you.
3. Collect cash payments during your free stay or have others collect cash on your behalf.
Q. How does the R.O.I. guarantee work?
A. Meno Mojo Beach Resort guarantees a minimum R.O.I. of 10% for 3 years. Therefore should you purchase an apartment for usd 78,000 your R.O.I. will be usd 7,800 less expenses such as water, electricity and insurance. Expenses are estimated at usd 1,150 per annum, Insurance at usd 400.00 per annum. Should the rental income exceed the guaranteed amount, they will be paid these funds.
Q. What type of insurance is available?
A. We use Allianz for all of our insurance requirements. We find that they are cost competitive and very professional. There policy covers all general insurance plus coverage against earthquakes, Tsunami’s and volcanic eruptions.
Q. How can I use my 30 day free stay?
A. Investors are entitled to stay in their apartments for 30 days per annum. Their stay can include 15 days during high season periods and another 15 days throughout other times of the year. Investors may share these days with family or friends. If they wish to charge others to stay in the apartment during this time they may do so. Please note, a daily usd 20.00 cleaning fee is charged.
Q. What happens in the event of my death?
A. You may bequeath the apartment to whomever you choose, we simply ask for your notarized, notification and a copy of their passport.
All of the above information is contained in our lease and management agreements that are listed in the documentation section of this website. Should you require any additional information then please “contact us” and we will get back to you as soon as possible.