Fractional ownership is a smart way to own a vacation home.
Factors like rising real estate costs and available time for the use of a second home are deterrents to many potential buyers seeking a vacation home. Owning a fraction of a property maximizes your dollars and eliminates the hassles associated with full ownership while providing you with a reasonable amount of time for your use and enjoyment of the property with family and friends.
Enjoy 12 weeks per year on a rotating calendar schedule. Each owner will receive an equal amount of weeks per year, which over time, will include every major holiday. If you cannot use your weeks, you can trade them with other owners or you can rent your assigned days for additional income.
You purchase real estate not time or weeks as in a “time share”. This means that you receive rights as a real property owner with deeded ownership as “tenants in common” Your ownership interest can be sold, held in a trust or business, conveyed in a will or otherwise transferred. As an owner, your fractional share comes with voting rights allowing you to make decisions that relate to your home. Property taxes and other expenses can be deducted as a second home and, if you choose to finance your ownership interest, the mortgage interest may be tax deductible as well.
Purchasing a quarter share allows you to own a bigger and more luxurious home at a fraction of the price of full ownership. Not only is the purchase price divided four ways but all operating expenses are divided equally too. . Because you are a quarter-share owner of the property, you are responsible for just 25% of the overall expense. The average monthly expense depends on the home’s size and location but will likely average between $ $600.00 and $800.00 per month. This amount includes, but is not limited to, property taxes, insurance, utilities, yearly maintenance and detailed cleanings twice yearly. Rarely is there a case where additional capital contributions are collected from the owners.
Your home will be professionally managed and maintained by Ideal Mountain Property. Ideal Mountain Property strives to make every stay at your second home a worry-free and pleasurable experience by managing and maintaining the property for you. In a renowned location with leisure activities abound in a luxurious and comfortable property with no responsibility for cleaning, making repairs or paying bills, you will spend more time at the home actually vacationing and enjoying your property with family and friends.
Ideal Mountain Property offers the sale of luxury vacation homes and management of those properties in resort communities in the Colorado Rockies.
With nearly 20 years of experience owning and managing properties throughout Colorado, Ideal Mountain Property has taken second home ownership to a new level by offering fractional ownership in luxurious vacation homes that fits the budget and lifestyle of today’s families.
We provide you with a copy of the, fractional ownership and use agreement, the calendar schedule and, yearly budget which will outline ownership costs, as well as a detailed list of the contents and furnishings you will own with your purchase.If you choose, we can also arrange financing for your purchase. Once you are an aboutlakeowner, you gain access to the Ideal Mountain Property Owners’ website that allows you to see your calendar of use, schedule your stays, and initiate any trades with other owners. You can also access all your ownership statements and quarterly HOA expense reports. Relax and enjoy your stay. Ideal Mountain Property will professionally manage your home and handle every detail including cleaning, maintenance and accounting services while you spend your time relaxing and enjoying your property.
For well below the industry standard commission, we manage the entire rental of the property for you. We correspond and negotiate with all potential and future tenants while marketing the property. We schedule cleaning and maintenance services, collect payments for rentals and security deposits as well as being available 24/7 to the tenant should anything be needed or should problems arise.
As an added bonus, we offer luxury home exchange services with your ownership. Visit www.3rdHome for more information.