Fractional Ownership A Growing Market World Wide
May 13, 2009 by kenduncan
Filed under News / Comments
Fractional Ownership is one of the fastest growing sectors of the property market and in 2005 accounted for $1.5 billion of sales in the US alone. It provides both a legal and use structure that makes sharing a holiday property easy and brings ownership within reach of many people.
There are a number of different fractional programmes but the bottom line is that there is a carefully documented plan in place to ensure that each of the owners has absolute certainty about when they can use the home.
From the outset all parties sign up to an agreement that clearly states the obligations and responsibilities of both the Owners and the Management Company.
The structure may cater for several categories of owner within a single property. For example, families with children may wish their fraction to include weeks during school holidays whereas retired couples might be keen to have ownership at quieter times of the year.
Some structures may mean that you own a number of shares in a company specifically set up to own the property. You will buy an asset not a lease.
Typically fractions range from 1 to 13 weeks and the programme at each property should normally reflect its location and the profile of the people to whom it will appeal.
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- Muirfield/Aberlady Scotland
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- Renaissance Club Scotland
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- Buriano Tuscany Italy
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- ParK House Arran Scotland
YOUR RESPONSIBILITY
When you become a fractional owner, you will be responsible for your share of the running costs (insurance, utilities, etc) maintenance and replacement of furnishings.
It is really the same as owning your own house only it is yours to use for a specified period of time
With so many luxury properties available in the South Florida market it could be a very good idea for several people to buy one unit and fraction off the ownership.
Our partner, “Your Fraction Ltd” has been involved in this business for several years. They currently have fractions in several European countries and are looking seriously into the US market. Neil MacAllister of Your Fraction would be happy to help you with any questions you have regarding the fractional market
Contact Neil
Email: neil@yourfraction.net
Tel: 44-1620-842989
Fractional Ownership – another way of owning a luxury Florida vacation home
Susan Lustig Overseas Property Sales on Wed, 24th Jun 2009 2:51 pm
Mr Duncan
Many thanks for all the information regarding your partner developments in Scotland and Buriano in Italy.
My company is very impressed with the amount of commission you can offer us for selling Scottish Golf Homes in the New York area.
We may have a few New Yorkers interested in the Tuscany apartments we shall be doing a mail shot to some of our customers.
Have you approached any realtors in Arizona who may be interested in Scottish Golf Homes, as we do have some contacts in that area of the US?
We will need a pricing structure for the luxury homes on the Renaissance Golf Club, also a membership breakdown if possible.
I look forward to hearing from you on the above.
Yours truly,
Susan Lustig
Overseas Property Sales