Resort - Property Management

Here at Red Frog Beach we understand what it takes to keep your home in paradise a special place. For that reason we consider it a privilege to provide our homeowners with a safe, secure, and beautiful environment. Soon we'll be offering a maintenance package that includes maintenance of pools, landscape, patio, etc. Members of our Red Frog staff will be available 24 hours a day to address any questions or emergency situations that may arise.

Some of the management areas include:

  • Repair and maintenance
  • Security
  • Restaurant/bar management
  • Welcome center
  • Common pool areas
  • Marina
  • Landscaping staff for individual and common areas

In addition our rental management service provides owners with the opportunity to rent or lease their villas without having to worry about the day-to-day concerns related to being a landlord. Our team of specialists will manage the entire rental process of tenant selection to rental revenue collection and summarization of maintenance repairs, providing both individualized service and flexibility. Our team benefits from a staff of experts in the field who are dedicated to producing the best investment value customers.

Red Frog Utility Pricing and Plan 2009

To date, Oceans Group International has invested over $3M into the utility system at Red Frog, including capital purchases and subsidizing dehumidification for over 2 years. As our clients have re-adjusted expectations on their own investments, Oceans Group International has done the same with its capital recovery outlook for this investment. Oceans Group International has divested the utility assets into GRM Utilities to make energy use more affordable to Red Frog clients. Oceans Group International will have the most reliable power grid in the Bocas region. The decision was made early in our inception to be self-reliant with utilities rather than tap into the existing Bocas grid that continues to have ongoing power issues. Diesel run utilities are reliable and relatively expensive but worth the investment considering other alternatives for island living. Oceans Group International is committed to further analyze new technologies and how they can be used to defray costs and become more environmentally sustainable at Red Frog Beach.

Oceans Group International has conducted research to assess power costing and set benchmarks for similar projects that have remote island locations with stand alone utility systems. These included locations in St. Martin, Hawaii, St. Johns, Antilles, and Turks and Caicos. The prices researched are over triple to quadruple what is generally seen in normal residential areas in the US. This is because there are no government subsidies, the cost to deliver utilities to remote island locations is significantly higher, and diesel generation is one of the most expensive alternatives. Oceans Group International/GRM plans to continue to subsidize the utility system as long as necessary to maintain pricing relative to remote island benchmarks. In addition, Oceans Group International/GRM plans to sell fuel to offset the dramatic price fluctuations that will benefit all clients, but it will take time to establish that enterprise. Based on the above factors, Oceans Group International has created its 2009 pricing plan, subject to change at any time:


Power
Full Service: $.45/kwh - guests minimize use to save costs and conserve
Dehumidification service only (no occupancy in villa): $290/month to keep villa at reasonable humidity levels - estimated at 2-4 hours/day of dehumidifier or AC running
Water
$95/month
Sewer
$75/month
Internet
$99, 256k
TV
Client contracts with 3rd party for satellite TV until available from Oceans Group International
Trash
$95/month for weekly pick up
Home Owners
$250/month while transport availability improves
Villa Maintenance
$175/month for pool, patio, and landscaping depending on type
$115/month for villa maintenance - lower exterior walls, driveway, banisters, railings, cleaned

Once phase 1 is complete, Oceans Group International and GRM will look to find new ways to bring renewable, more cost efficient energy to the Red Frog Clients. The two firms have researched 3rd party providers but need to wait to structure partnerships until there is more critical mass of homes using utilities. This partnership could happen by a service or equity agreement. Already, significant progress has been made with researching solar, wind, diesel, bunker, and methane gas power options. After monitoring wind for over 12 months, it is no longer a viable option because there is little wind in the August-September time frame. Solar is a viable option but has very high up front capital cost that GRM could not absorb for the long term until some of the initial capital is recovered. Methane power is perhaps the most viable using Banana waste as fuel, but also has significant upfront capital requirements. In addition, the Panama Government is considering running its hydro-power from the mainland to Bocas over the long-term. This would significantly reduce power costs to Red Frog Clients, but again would most likely require a significant capital investment to bring the power via under water cables to the project. Oceans Group International and GRM are committed to delivering a better solution but it will take time to implement as Oceans Group International continues to finish units and those clients use utility services.