What additional costs will I have to pay as a fraction holder?

What additional costs will I have to pay as a fraction holder?

What additional costs will I have to pay as a fraction holder?

Additional costs will be shared pro rata to the number of fractions held.

Property management fees among others cover:
– The cleaning of the public areas, garbage and sewage collection
– Maintenance of properties, including landscaping
– Arranging for necessary repairs to properties and utilities
– Setting up and adhering to budgets for property maintenance
– Handling taxes (municipal)

Rental management services include
A – listing the rentals on online booking channels, pricing each rental and adjusting prices for specific calendar dates, answering inquiries from potential guests and communicating with existing guests
B – coordinating with cleaning and maintenance staff to ensure the rentals are prepared for each stay and more.

Booking Fee
Blockx/Gambooking will charge a 10% booking fee per booking. The 10% booking fee is a standard charge applied to each booking made through our platform. This fee covers the costs associated with facilitating your reservation and maintaining our services.

These costs are passed along directly to owners with no markup, periodically or yearly and pro rata. Periodically, we will notify you of the breakdown of those expenses with full transparency.

The Asset Fund covers more extensive maintenance of the public areas and shared fixtures and fittings

The refundable Security Deposit is collected from fraction holders to serve as a form of security against potential damages or breaches of the Fraction Holder Agreement. This deposit is held by Blockx Fractional Ltd. and is refundable to the fraction holder under specific conditions.

What does the Security Deposit cover?

The Security Deposit is primarily intended to cover the costs of repairing any damages caused to the property during the fraction holder’s occupancy, beyond normal wear and tear. This includes but is not limited to damages to furniture, fixtures, appliances, and structural elements of the property.

The yearly Blockx Platform fee is a nominal charge imposed on fraction holders to cover the costs associated with the management and maintenance of the Blockx platform. This fee contributes towards the ongoing development, maintenance, and support of the platform, ensuring that it remains efficient, secure, and user-friendly for all fraction holders.

The yearly Blockx Platform fee covers a wide range of services essential for the smooth operation of the platform, including but not limited to:

– Maintenance and updates to the Blockx platform software
– Technical support and assistance for fraction holders
– Security enhancements to safeguard user data and transactions
– Hosting and infrastructure costs for the Blockx platform
– Development of new features and functionalities based on user feedback and industry trends

All costs are transparent and the documentation will be available to the buyers through their Blockx Account.