After reading my other posts about Oceanside Inn, which were critical of the Board actions, I would expect someone to ask whether there is any positive news for Oceanside. We love balance, and we love happy ends.
No problem, We have it all here. I am glad to state that the Front Desk Rental Management Company is very good. SunStream bought the operation and the commercial space on the first floor a few years ago from Integra Resorts.So, they are not just a third party providing rentlas for the owners, but an integral part of Oceanside with vested interest.
A setup, where there is a management company, that owns the commercial space, may be either a curse, or a blessing. If a curse, you are stuck with the inefficient company, that owns the space and controls it, and there is little the Association can do.
If a blessing, then they are that needed element of stability. We have a few management companies, that had no vested interest, simply walk away from the property. Contrary to popular belief, there profit margin in this business is tiny, and if you can't count at penny level, you may not last. In this regard cries that Front Desk takes too much money, which I often hear from owners, is ridiculous. The owners would love to get better return, and it is understandable, but they need to understand the reality and the costs. Suggestions that the Front Desk should split 30/70 in owners favor are simply not realistic. At least not in today's economy.
I believe that in Oceanside Inn it is a blessing, which many owners do not fully understand and do not really appreciate. If you measure the rental management company by the industry criteria, they are doing pretty good. And not every condo-hotels can say the same.
The GM is Randy Goodell, an experienced hands-on no nonsense guy. Very professional, open, really knows what he is doing. Oceanside Inn is a rare place which you can call and ask for GM, and they will connect you to Randy. It started when James Dion with Integra was the GM manager, and it is the same way now, when Randy Goodell with SunStream Resorts is in charge.
Every month owners get a letter from Randy. No, not the statement with revenues and expenses. One page letters give you the news, rentals and comparisons with the previous year, they set the expectations and list challenges.
This is my positive news about Oceanside Inn.
First posted on my personal blog.
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