What is the difference between the Furnished Lease Agreement and the Standard Lease Agreement?

The furnished lease agreement provides owners with a much higher return, however it is a variable return based on revenue and occupancy. 

The standard lease agreement is a low return but a fixed rental rate on a monthly basis. The fixed rent may be based on an unfurnished apartment or furnished apartment, which is negotiated at time of contract.

Imperial Suites maintains a percentage of both lease types within the inventory and can advise to the availability upon your request. 

Do I have to provide a lease to Imperial Suites?

For the Standard Lease Agreement, you the owner provide acceptable documentation for Imperial Suites to sign for a long-term rental agreement. 

For the Furnished Lease Agreement, we at Imperial Suites provide the documentation for the owner to agree to and sign

Why do I have to sign a 2-year lease on the furnished lease agreement if the returns are variable?

The lease protects Imperial Suites from owners requesting their suite back while it is occupied. If your plans change or your expectations have not been met, you are welcome to request your suite back at any time. If the suite is occupied we will inform you of the expected departure and once vacant, arrange to provide you with your suite back. 

I am leaving for 6 months.  Will Imperial Suites rent my apartment?

The minimum lease requirement is two years, so we are unable to assist you. This type of service is provided by Property Managers. Imperial Suites is a marketing company that offers professionally designed apartments that require time and investment to bring into the program. Short-term management is not possible within our program. 

Can you keep my apartment in mind for future requests? 

Our priority is to rent within our current inventory, but on occasion we get a request that we cannot accommodate. If you provide the necessary details for us to keep on file, we can contact you for those types of requests. 

If I join the Imperial Suites Owner Program, can I advertise on my own?

Yes you can, but you must post the listing with the same information, rates and photos that Imperial Suites uses. Any request or reservation must be provided to our team to ensure proper procedures and screening processes are maintained. 

Does Imperial Suites pay commission for referrals of business booked by Owners?

Yes, we offer owners various commissions for referrals depending on the suite booked by the referral. Please contact the General Manager for more information. 

Can I access my apartment? 

Owners are welcome to do one annual tour of their apartment or home free of charge. This tour must be arranged in advance and must be conducted during business hours. 

Additional tours may be arranged but are subject to a fee.  

Owners are not permitted at any time to enter the property without approval. 

Can I stay in my apartment or home?

Owners are welcome to stay in their apartment or home, however they must request the availability through Imperial Suites. Availability cannot be guaranteed in advance, as the existing tenant may want to extend their stay. If this should happen, Imperial Suites will offer alternative solutions which would be comparable to your unit. Owners are subject to a cleaning fee which will be confirmed at time of booking. 

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How do I know how much money my suite was rented for?

All owners are provided with a payout report at the end of each month providing a breakdown for each suite managed by Imperial Suites. The breakdown includes the number of days rented, the rate with the deductions outlined and a total amount to be deposited. 

How and when do I get paid?

Owners are paid by electronic transfer of funds to their bank account. Payment is done within the 4^th week of the following month. 

Why is there a difference in my last pay out report and this month’s pay out report?

Revenue varies month-to-month depending on the time of year, occupancy, guest length of stay and volume of booking.

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 My current residence is fully furnished. Why do I have to re-purchase furniture I already have?

Imperial Suites' inventory and standards are very specific and variance outside of this standard is not permitted. Upon evaluation of the current furnishings, we may accept some furnishings, however the items must be in recent, good-standing condition to be approved. 

Can I furnish the apartment or house myself?

You are welcome to furnish the apartment or home on your own, however you must follow the guidelines of Imperial Suites standards and quality. We recommend allowing Imperial Suites to manage the furnishings completely, which will allow you access to our preferred rates with supplies and ensure it is completed to our standards.

How often do the furnishings and supplies get upgraded?

The inventory has various life-cycles, however on average you should expect to have to replace furnishings within 5 years. Items such as mattresses are replaced more frequently.  Minor inventory replacements will be replaced and deducted from owner pay-outs. Major inventory replacements will be approved by owners prior to purchase to provide time to financially prepare for the change. 

Who pays for the furniture and supply upgrades? 

It is the owner of the furniture and supplies that is responsible for the payment of the upgrades.

Why does my 8-year old couch that has no damage or excessive wear have to be replaced?

Furniture upgrades may be necessary to stay competitive within the industry in terms of quality and décor. We do our best to work with the inventory we have to avoid this, however in some cases changes are required. 

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