The weekly
rotation
for most properties begins on Monday afternoon. This allows
owners to come anytime during the week and be in residence through the
weekend, even Sunday night. Other properties
have a Friday-to-Friday schedule to accommodate different travel
preferences.
Can I rent out my property?
Yes, you can rent out weeks or days of your calendar yourself or through the management company. If you rent during a prime week
or two you can often
recover most of your annual operating expenses.
Who does the cleaning?
A management company cleans the home for all the owners. Anyone who stays at the property is required to use the housekeeping service so that everyone is assured a clean
place when they arrive. Owners are charged for cleaning only when they
or their guests stay at the property.
Once I own my property, can I swap dates with another owner?
Swapping dates and combining weeks can be done at the discretion
and cooperation of the owner-partners. Your personal calendar shows your
calendar dates for years in advance and gives plenty of time to make changes with other owners.
Is there financing available?
There are financing options for prospective buyers. Aside from a cash purchase, home equity loans and
primary home refinancing, there are lenders who will create mortgages
for quarter shares. We are happy to
explain how, and provide names
and contact details of lenders.
Can an owner bring pets?
The answer depends on the property. The rule is often dictated by
Home Owners' Association (HOA)
bylaws or covenants. When there are no restrictions we remain open and a
property can become pet-friendly if we gather owners of similar
preference -- it is an area where our "partner-matchmaking" skills
come into play.
Now, let's define pets. Rules for pet-friendly properties allow dogs
only. Cats and other animals are prohibited.
What about damages to the property?
Damages beyond normal wear and tear are the responsibility of the occupying owner. The ownership agreement defines the policies and guidelines for
repairing and replacing damaged items.
What are the estimated monthly expenses?
The monthly operating costs vary by property and we provide a complete breakdown of the estimated costs. The cost estimates typically include such things as
HOA dues, utilities, property taxes, cable TV and Internet, phone, insurance and bookkeeping. All the costs are passed on directly without mark-up and split equally
among the owners.
Who pays the bills and collects the expenses?
A Bookkeeper handles a variety of duties including processing bills when due, providing summary reports to owners and keeping an escrow account from which bills
are paid. As an owner, you pay one-fourth of the estimated monthly expenses and the
Bookkeeper handles the rest.
What about selling my share?
Like any other form of real property ownership, you can sell your interest at any time. You own fee-simple title to your specific quarter interest. Because we specialize in and work with so many quarter-share buyers, we are happy to help you market your property
resale.
We provide to owners and buyers current
resale data and other market
statistics to help them get the very best sales price.
