RENTAL POOL - Generate Passive Income for Berth Owners
The rental pool module allows multiple berth owners to combine their individual berths into a collective pool, which is managed and rented out by the marina. The marina handles all aspects of marketing, maintenance, and guest bookings.
Rental income is pooled and distributed among participating owners based on berth size and the number of days each berth is available for rent. The marina retains a portion of the income as management fees and applicable levies.
This system offers a hassle-free way for owners to generate passive income while ensuring efficient utilization of berths.
Rental income is pooled and distributed among participating owners based on berth size and the number of days each berth is available for rent. The marina retains a portion of the income as management fees and applicable levies.
This system offers a hassle-free way for owners to generate passive income while ensuring efficient utilization of berths.
Lea Griffiths, Business Manager, North Harbour, Australia, comments: "Since the conception of Mackay Marina some 25 years ago, we have offered our berth owners a return-on-investment opportunity through our rental pool, renting pooled berths and paying owners quarterly on a metered night rate formula. Berth owners can participate for days, weeks, years, or move in and out of the pool for complete flexibility.
Recently, we decided to take this long-standing process into the digital age. Our desire was moving our manual rental pool system, previously spread across an outdated CRM, multiple spreadsheets, and a separate accounting software, into one seamless program. As we began unravelling the network of old interfaces, we quickly realised the scale of the challenge.
With the move to Marina Master, we were excited to move to one seamless program to calculate and manage rental pool calculations and disbursements.
Thanks to the knowledge, dedication, and consistent communication from Vesna and her team, we overcame every hurdle and successfully implemented our new rental pool module on schedule and with precise accounting for our quarterly returns.
This tailored solution gives berth owners an easy-to-use digital form to join or exit the pool on their preferred timeline. The system automatically submits berths for rental listing, calculates the formula for pooled income, considers the tax implications and manages quarterly distributions, all within a single program.
We couldn't be happier with the outcome and are grateful for the partnership with Marina Master."
Recently, we decided to take this long-standing process into the digital age. Our desire was moving our manual rental pool system, previously spread across an outdated CRM, multiple spreadsheets, and a separate accounting software, into one seamless program. As we began unravelling the network of old interfaces, we quickly realised the scale of the challenge.
With the move to Marina Master, we were excited to move to one seamless program to calculate and manage rental pool calculations and disbursements.
Thanks to the knowledge, dedication, and consistent communication from Vesna and her team, we overcame every hurdle and successfully implemented our new rental pool module on schedule and with precise accounting for our quarterly returns.
This tailored solution gives berth owners an easy-to-use digital form to join or exit the pool on their preferred timeline. The system automatically submits berths for rental listing, calculates the formula for pooled income, considers the tax implications and manages quarterly distributions, all within a single program.
We couldn't be happier with the outcome and are grateful for the partnership with Marina Master."