When you purchase your condo or home with Fractional-Beneficial Ownership, you own it with a fee simple deed or Bank Trust allowing you 5 weeks per year FOREVER. Fractional Ownership of vacation homes, also called private residence clubs, are relatively new concepts that allow you to enjoy up to two months of home ownership privileges at a top-of-the-line, luxury property but at a fraction of the cost of whole ownership. This type of real estate arrangement is ideal if you want the benefits of owning an impressive second home complete with personalized services, and can be located in a very exclusive community.
Will I get the same 5 weeks every year?
Weeks are on a rotating schedule. This way, owners will rotate some of the most desirable weeks such as Christmas, New Years, 4th of July, Thanksgiving etc. No one owner will have an advantage over another as everyone will receive these times.
This sounds like a timeshare... is it?
The tenth-share ownership takes the best aspects of timeshare --- flexibility, ease of ownership and vacation exchange - and combines them with the best aspects of traditional second home ownership - tax benefits, legally-deeded property and peace of mind knowing where you and your family and friends are going to spend many happy times together.
Why would I need 5 weeks of ownership?
Granted, some people do not have 5 weeks of time to spend on a vacation. With 1/10th Share ownership you will benefit in two different ways. Enjoy your home or condo, rent it out for top dollar. MANHEIM GROUP INVESTMENTS RENTALS would be happy to rent it for you What happens if one of the owners of the unit damages it? Totally hassle-free ownership... because there is weekly cleaning services and at this time, full stock and inspection is done. The management service fixes the problem and bills the owner for the repairs. If anything is missing or damaged they will repair or replace immediately.
Is there a homeowners' association?
In most cases, yes, if a condo. Most of the time with private residence homes, no. There is no worry about the fees as yours is included in your quarterly dues. This all inclusive fee takes care of the Association fees, insurance, water, electric, paper goods, house cleaning, management, taxes and more.
Who is the ideal candidate for Fractional Home Ownership?
This type of home ownership is perfect for individuals who want to own a luxurious second home without the responsibility of upkeep and who only plan on using their home for a limited amount of time each season. Weeks are predetermined for each share but can be traded among owners.
Can fractional beneficiary home shares be resold?
Yes. You may sell your 1/10 interest in the trust at any time. Our management program includes a resale process to assist with selling a share.
Can owners secure financing on the purchase of a fractional beneficiary home?
Our Vacation Properties are already financed. With our system, you will be able to vacation immediately without any financing. We have private financing for you, so we are able to set you up on a convenient, in-house, financing plan that can meet your budget and preferred payment options (such as credit card, e-check, ACH draft, auto-pay, etc.).
Can I rent out my weeks?
Owners may rent out their weeks to the public or we can set up a rental program that will take care of that for you. This rental income often offsets your annual expenses and may also pay you back in the form of dividends, so that you can actually vacation for free and get paid to do it!
Are the properties furnished?
All of our managed homes are fully furnished.
The Average Fractional Beneficiary Ownership Owner
Young married couples with children to empty nesters in their early to mid fifties, with a household income between $30,000 to $500,000.
What Are The Most important factors when looking for a Fractional Ownership investment?
· The location
· Quality of the furnishings
· Appreciation
To date there have been very few Fractional Beneficial Ownership properties. The demand is high. As a result, it is likely there will be substantial appreciation, rather than the depreciation that usually occurs with timeshares.
Real estate experts say that the outlook for investment appreciation appears excellent. You can expect at the very least an appreciation parity against other real estate in the resort area in which their Fractional Ownership, or Fractional Beneficiary Ownership is located. Maintenance and Upkeep
Part of the beauty of Fractional Beneficiary Ownerships is that they are completely hassle free. In addition to having a staff for personalized service at your disposal, you never have to worry about repairs, maintenance or housekeeping. Everything is included in the price and annual fees.
