Ridge Management Ltd., Inc. (RML) is the onsite rental agency for Deer Ridge Mountain Resort. RML is owned by Gatlinburg Golf & Racquet Club, the Homeowners Association for the benefit of the owners of Deer Ridge Mountain Resort Condominiums. This rental program is operated by the Board of Directors of Gatlinburg Golf & Racquet Club and the Board members are elected by the home owners.
Ridge Management Ltd., Inc., RML (Agent) charges a management fee of 40% of the gross rental income. Agent is responsible for marketing and promotional materials, managerial service, reservation processing, departure maid service, housekeeping supplies, and maintenance staff.
The Owner receives 60% or 65% (depends on whether condo meets “above average” standards set by the Board) of the gross rental income for interior maintenance and 50% credit card fees.
There are four unit types: one bedroom/one bathroom, one bedroom plus loft and one bathroom, two bedrooms/two bathrooms, and two bedrooms plus loft and two bathrooms. The rental income and expense are based on individual unit rental nights and repair costs.
Owner’s usage should be limited during the peak times in order to maximize rental income. Peak time is defined as the entire month of June, July and August 1 thru 15, October and all Major Holidays including Christmas through January 1.
Ridge Management Ltd., Inc. will be responsible for collecting and dispensing all monies at the end of each month. Individual Owner Account Statements and checks are mailed out by the 25th of every month for the preceding month. Agent is responsible for collecting and paying all gross receipt taxes, state and local sales taxes, and hotel/motel taxes.