Scroll down to do a search for Quartershares properties, towns of Winter Park, Fraser, Tabernash, Granby, Grand Lake, Parshal and Hot Sulphur Springs.
Quarter-share properties are a way for you to enjoy a higher end property at a fraction of the full ownership cost. This is basically how they work…
An investor purchases the entire property. They furnish and decorate, to the last detail such as silverware, art, linens, small appliances and electronics. Everything you would need to use or rent the property.
Bylaws, owner rules and regulations, for the future shared ownership are then set up. Rules usually say each owner gets to use the property every fourth week, with a rotation at the end of the year so that every owner gets the Christmas week every four years.
Depending on the buyers and if the property is already a quarter-share and being resold, or if it is a new quarter-share, rules may or may not be negotiable. If it is an existing quarter-share, with 3 other owners, these owners have already agreed upon the basics, such as no smoking and pets or no pets allowed. You would want to review these documents closely and possibly speak with the other owners to see if this would be a good fit.
If this is a new quarter-share, prior to going to contract, these rules can be negotiated and have not yet been set in stone. An example would be maybe the new owners want to have pets allowed, but no pets allowed on furniture.
Whenever you use the unit, you are charged, a fee for cleaning. Your bills for utilities, hot tub upkeep, bookkeeping, HOA dues, taxes, interior and exterior insurance are split between all 4 parties.
If you do not use your week, it would be vacant or you can allow friends or family to use your time. You may want to rent the time you do not use and receive income from the rental. If renting is allowed in your rules and regulations, you would keep that income from your week. You and the other partners may agree trade weeks, there may be some flexibility in your usage.
Each quarter-share may have different rules already in place, but with the above examples, this gives you a basic understanding of how they are most often structured.
Please contact us if you are interested in a specific quarter-share that is for sale, and we can supply you with their particular rules and calendar schedule. If you would like to see the opportunities in this category, we would be happy to give you a tour of the various properties and locations.
For more information contact us at: Grandmountaingroup.com