Investing in luxury real estate is exciting! When you find the right fit, you can secure a property that will become your family’s place for making great memories. If you can’t justify paying for full ownership of our world-class homes, we also offer half and fractional ownership.
In our last blog, we answered three common questions about fractional ownership, including trading weeks, selling your fraction, and more. Today, we have three more common questions!
Is this a time share?
- No, factional ownership is more than a time share, which is basically a prepaid vacation plan. It can be transferred and exchanged among locations. On the other hand, fractional ownership is usually more exclusive and happen in larger homes rather than condos and small houses.
- Another difference is that a timeshare is usually a week, while fractional owners get four to 13 weeks.
- Lastly, fractional owners get all the benefits of home ownership.
What I want to invest, but the property is damaged?
- In our experience, damage is not a big issue, because owners understand that they will have to pay for them.
- All damages to the property or personal property are the responsibility of whoever owns the property at the time. You will find the method for replacing and repairing damage in the ownership and use agreement.
How are bills paid?
- All owners contribute to an escrow account every quarter. The management bookkeeper manages billing statements and payments each month, and statements are provided to all owners.