Frequently asked questions and answers:

What is Nest Hotels?
Nest Hotels is a hotel buy-to-let product that allows you to buy a 99 year exclusive licence to a hotel room. This gives you:

• A legal Exclusive Licence to Occupy or Rent.
• The right to use that guestroom or others in the hotel free of charge for
  maximum 31 nights per year (Subject to a small user fee per night used).
• The opportunity to generate income from the room for the remaining
  days of the year.
• The opportunity to generate capital growth from the asset when you sell it.

How will I generate income from my room?
The hotel guest will pay for the room in the usual way. You will receive 50% of the room revenue after deduction of any travel agency commission, credit card costs and sales tax/VAT.
At the end of each quarter, the managing agent will produce a set of accounts for you outlining the income received for your hotel room during that quarter. Your 50% will then be paid to you at that time.

Will I have to pay the managing agent for this service?
No. The managing agent will receive the remaining 50% of the room revenue . This income will cover cleaning, reception and any other regular management expenses including repairs and refurbishment from time to time.

Will I have to make any other payments?
You will have to pay an annual contribution towards the cost incurred to maintain the legal title of the Hotel such as insurance, ground rent, property taxes etc.When you use the hotel, you will also have to pay a small user fee per night used, in order to cover the cost of laundry and utilities such as water. This is set at € 20,- per night.

Who manages my room and how do I make a booking?
At the same time the Licence is granted to you, you will enter into a Rental Agreement with the managing agent appointed by the freeholder. The managing agent will deal with the day-to-day running of the hotel for all the tenants in the building. Once the Rental Agreement has commenced you will need to notify the managing agent when you require your room, either by fax, phone or email, with at least 20 working days' notice. The managing agent will then confirm your booking to you in writing. In the event that the hotel is already fully booked, the managing agent will do his best to offer other dates suitable to you.
 
What happens if I do not wish to use my room for the full 31 days?
Your room remains available for the public to book at all times until you let us know that you wish to use it. Hence, if you do not use your room yourself, the managing agent will be trying to let it out as usual with a resultant increase in your income.

 
Will I have to repair and decorate the room?
No. The managing agent will at its expense be responsible for cleaning, laundry, repair, maintenance, decoration and housekeeping of the room and will supply, maintain and repair (and when required replace and renew) all the furniture in your room. This will be covered by the managing agent’s share of the room revenue.

Will I have to pay for utilities and other outgoings?
No. The managing agent will pay for that.

Can I make any alterations to the room?
No. The managing agent requires that all rooms are furnished and decorated to the same standard and appearance. They will be allowed to make any alterations, which are consistent with the rest of the rooms in the hotel.

 How will the other rooms in the hotel be dealt with?
The other rooms will be dealt with in the same manner as your room, as all Licence Holders will enter into the same Licences and Rental Agreements. The managing agent will endeavour to ensure that all rooms of each type will be treated equally when allocating bookings so that there is, as far as is practical, an even spread of occupation and rental income throughout the year. All monies received for each room will be held separately for each individual tenant, and all accounts will be published quarterly for all the rooms in the hotel.

How do I know my room receives the same revenue as the others?
We have a property management system whereby we rotate all rooms to equalise revenue amongst all our Leaseholders in a particular room category.

Can I sell my room?
Yes. You may sell or charge your Licence. However, you are not permitted to sub-let your room or advertise market or instruct any other agent to do so either. However, if you wish to introduce clients to the hotel, the managing agent will, if notified at the time of booking, allocate that client to your room, subject to availability.

Can I sell my room privately or using any estate agent?
Yes, we offer a resale service, however as with any property your hotel room can be sold through any agent.