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.
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.
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.