Trading Homes Vacation

Unwind in Paradise! Owning a Luxury Vacation Home Through Fractional Ownership

Vacation homes present the most widespread use of the fractional ownership model. After growing in popularity in Europe, the system first reached the ski resorts in the U.S., then to the East and West coasts. Now fractional vacation homes are expanding all through the country, particularly in Florida, in golf developments and in other resort areas.

Fractional ownership is also available at destination or residence clubs currently being built and run by various major players — Ritz Carlton, Starwood, Four Seasons, Hyatt and others. These companies administer large resorts in California, Florida, and the East Coast. Residence clubs also exist on a smaller scale, frequently as part of a hotel or residential development whose principal purpose is to accomodate short-term guests or to sell homes to individual buyers.

Regardless of the diversity of forms a fractional ownership vacation home may take –- from luxury single-family coastal properties to what are essentially 5-star hotels and resorts; from coastal condo developments to residence clubs that are part of a larger development –- they all share a lot of general characteristics.

Most significantly, fractional ownership is not a timeshare. The difference is that a fractional share owner possesses a deeded share for a portion of the property. In contrast, timeshare “owner” is permitted to access his property for specific periods of time; he does not have ownership rights in the property.

An alternate structure that is used at times for single-family vacation homes is the Fractional Property LLC, basically a holding company in which all share owners have an equal interest.

Whether the fractional share owner possesses a deeded portion of the property or a share in an LLC, there are numerous advantages. If the property goes up in value, owners’ shares also appreciate in value. Share owners can buy, sell, trade or otherwise convey their fractional share of the property. Share owners, as part of the Property Owners’ Association, have participation in decisions affecting their property. There may be tax advantages to the share owner from deducting mortgage interest or the fractional share of the depreciation on the property.

Some fractional vacation companies manage properties in diverse parts of the world. Owners can buy a fractional share in one of these properties, but are able to trade right of use to their vacation home for use of a property in an alternative location.

Fractional ownership vacation homes are handled by a property manager who takes care of all business matters, coordinates scheduling of owners’ visits and may take care of countless matters to make the owner’s arrival easy and effortless. Owners’ personal possessions may be taken out of their private storage area and placed in the home, prepared for their arrival. It is possible to have the refrigerator and/or liquor cabinet supplied with specified items; tee times, tennis lessons, child care, spa appointments and charter fishing can be set up.

A fractional share of a vacation home gives the owner the right to a specified amount of use of the property. A 1/13 share means the owner enjoys the benefit of four weeks in the property each year; a 1/6 share entitles one to eight weeks each year. Some fractional properties provide a set calendar, with owners’ weeks revolving in the course of the year, resulting in fair distribution of desired holiday times. Some developments allow owners to trade time among themselves; others have complex bidding procedures where an owner may have a number of fixed weeks per year and a number of floating weeks, that are determined year by year.

All the details of the legal and financial structure of the fractional vacation property are clearly set forth in the deed, LLC Operating Agreement, and other management instruments. Most fractional homes have a monthly or quarterly fee assessment that provides for operating costs, administration, taxes, insurance, maintenance, landscaping, and a fund for replacing furnishings. Yearly accounting of all costs and budget projections for the approaching year are made available to share owners for approval and input.

The growing popularity of fractional ownership vacation homes is explained by the remarkable advantages they provide –- mainly, that of having access to a luxury vacation home minus the expense, liability or headaches of owning it outright. No repairs, no shopping (unless you want to), no worries. All the owner has to do is show up, unpack the bags and – enjoy.

Financing options for fractional vacation properties will be covered in a separate article.

About the Author

David Yarian, Ph.D. is a practicing Psychologist, and a real estate investor specializing in fractional ownership of luxury vacation homes. He writes the blog Florida Fractional Ownership http://www.FLfractionalOwnership.com which covers the fractional vacation home market in Florida and around the world. His latest project, Abaco Rose, may be seen at http://www.AbacoRose.com. As a committed environmentalist he supports green building practices and sustainable development. His environmental resources website and blog are at http://www.SavingtheEarth.net.

Paradise $9.99 Studio: Buena Vista Home Video Release Date: 08/03/2004…

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National Lampoon’s Vacation [VHS] $1.89 Vacation paved the way for the John Hughes movie dynasty of the 1980s. Written by Hughes (who would go on to write, direct, and/or produce The Breakfast Club, Ferris Bueller’s Day Off, Uncle Buck, Home Alone, and so on) and directed by Harold Ramis (Caddyshack, Groundhog Day, Stuart Saves His Family), the first Vacation movie introduces us to the all-American Griswold family: father Clark (Chevy …

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The Holiday $4.94 As a pleasant dose of holiday cheer, The Holiday is a lovable love story with all the Christmas trimmings. In the capable hands of writer-director Nancy Meyers (making her first romantic comedy since Something’s Gotta Give), it all begins when two successful yet unhappy women connect through a home-swapping website, and decide to trade houses for the Christmas holiday in a mutual effort to forget …

How Stella Got Her Groove Back $5.87 Angela Bassett stars as Stella, a tightly-wound, 40-year-old stockbroker and single mother who joins best friend Whoopi Goldberg on a much-needed Jamaican vacation and, while there, falls for a striking local man half her age. The reactions to their blossoming romance form the basis for this winning romantic comedy based on Terry McMillan’s (“Waiting to Exhale”) book. With Taye Diggs, Regina King….

Silver Bullet $9.98 Corey Haim (back when he was still cute) and his souped-up hot-rod of a wheelchair are all that stand between a sleepy little New England town and a ferocious full-moon killer in Stephen King’s adaptation of his novella Cycle of the Werewolf. This minor entry into the werewolf canon lacks the scares and sense of humor of superior hirsute thrillers The Howling and An American Werewolf in London, bu…

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Tiptop Vacation Homes, Topside,,Philippines $61.95 Hotel property Tiptop Vacation Homes, 70a, Ambuklao Road, Simsim Compound, Tiptop, Pacdal in Topside, Philippines

Advantage Vacation Homes, Kissimmee,FL,United States $124.8 Hotel property Advantage Vacation Homes, 7799 Styles Blvd in Kissimmee, FL, United States

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Volcano Vacation Homes $146 Volcano Vacation Homes is located in Volcano, close to Hawaii Volcanoes National Park and Volcano Art Center and Gallery. Additional area points of interest include Kilauea. Property Features. Volcano Vacation Homes features gift shops/newsstands, concierge services, and a fireplace in the lobby. Wireless Internet access is available in public areas. Guest parking is complimentary. Additional property amenities include a video library. Guestrooms. 5 guestrooms at Volcano Vacation Homes feature CD players and windows that open. Rooms are all accessible via exterior corridors. At this 3 star property, accommodations include kitchens with microwaves and refrigerators. Bathrooms feature shower/tub combinations and hair dryers. Dial up Internet access is available. In addition to direct dial phones, guestrooms offer free local calls (restrictions may apply). Cable television is provided. Notifications:This property caters to families. Notifications:This property caters to families.

Premier Vacation Homes Inc. $107 Premier Vacation Homes Inc. > ISM > 3160 Vineland Rd > Kissimmee > FL > 34746>Location. Premier Vacation Homes in Kissimmee, Fla., are a collection of individual homes in various residential subdivisions throughout the city. The homes are generally 15 miles from Disney World and l6 miles from Universal Orlando, SeaWorld and Wet ‘n Wild Water Park. All homes are located in communities within 10 miles of local grocery stores.Features. Premier Vacation Homes, located in residential neighborhoods, offer the utmost in privacy for leisure travelers and families. Many of the neighborhoods offer community pools, playgrounds and tennis courts. Each home has a private screened in pool and patio, and homes are fully equipped for self catering, with some offering barbecue grills. Pool heat and housekeeping are available for a fee. There are no staff members on site at the vacation homes, but guests will receive a 24 hour emergency phone number upon arrival for any needs that should arise during their stay.Guestrooms. All vacation homes offer two full bathrooms and kitchens with microwave ovens, refrigerators, dishwashers, coffeemakers, dishware and cookware. Homes are equipped with cable television, and many offer additional televisions in the living rooms and bedrooms. Linens, towels and cleaning supplies, such as vacuums and mops are included. Washers and dryers are provided. There are sofa beds in the living rooms or family rooms.Expert Tip. Small hotel soaps and one roll of toilet paper in each bathroom are provided upon arrival. Guests will want to bring along extras, as they are not replenished. Guests may also want to bring their own dishwasher and laundry detergent, since these items are not provided.Notifications and Fees:Additional fees and deposits may be charged by the property at time of service, check in, or check out. Deposit: US$ 250 per stayPool heating: US$ 41 per day>The preferred airport for Premier Vacation Homes Inc. is Orlando, FL (MCO Orlando Intl.) 20 km / 12.4 mi. Distances are calculated in a straight line from the property’s location to the point of interest or airport and may not reflect actual travel distance. Distances are displayed to the nearest 0. 1 mile and kilometre.

Bradenton Vacation Homes $226 Bradenton Vacation Homes > SAR > Various Addresses > Sarasota > FL > 34236>Location. This Sarasota property is close to Museum of Asian Art and Sarasota Opera. Also nearby are Marie Selby Botanical Gardens and Sarasota Jungle Gardens. Features. In addition to an outdoor pool and laundry facilities, Bradenton Vacation Homes features air conditioning in public areas. This property is self catering. Guestrooms. Amenities featured in guestrooms include DVD players, air conditioning, and coffee/tea makers. All guestrooms provide microwaves and refrigerators. Bathrooms provide separate bathtubs and showers and shower/tub combinations. >

Florida Choice Vacation Homes $300 Florida Choice Vacation Homes is located in Kissimmee’s Maingate West neighborhood, close to Disney’s Animal Kingdom, Disney’s Hollywood Studios, and Blizzard Beach. Nearby points of interest also include Wide World of Sports. Property Features. Recreational amenities include an outdoor pool. Guest parking is complimentary. Additional property amenities include barbecue grills, multilingual staff, and tour/ticket assistance. Guestrooms. Air conditioned guestrooms at Florida Choice Vacation Homes feature washers/dryers and coffee/tea makers. All rooms include separate dining areas. At this 3 star property, accommodations include kitchens with full sized refrigerators/freezers, stovetops, microwaves, and dishwashers. Televisions have cable channels. Rooms also include hair dryers and irons/ironing boards. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Deposit: USD 250 per stay The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Deposit: USD 250 per stay The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change.

Contempo Vacation Homes $150 Located in Davenport, Contempo Vacation Homes is in the suburbs and close to ChampionsGate Golf Club. Additional area points of interest include Wallaby Ranch Flight Park. Hotel Features. Guest parking is complimentary. This is a smoke free property. Guestrooms. Air conditioned guestrooms at Contempo Vacation Homes feature washers/dryers and coffee/tea makers. These individually furnished and decorated rooms include separate dining areas. At this 3 star hotel, accommodations include kitchens with full sized refrigerators/freezers, stovetops, microwaves, and dishwashers. Bathrooms feature shower/tub combinations. Televisions have cable channels. Guestrooms are all non smoking. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Deposit: USD 300 per stayRollaway bed fee: USD 10 per nightCrib (infant bed) fee: USD 6 per night The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Deposit: USD 300 per stayRollaway bed fee: USD 10 per nightCrib (infant bed) fee: USD 6 per night The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change.

Florida Vacation Homes by IPG $265 Florida Vacation Homes by IPG is located in Clermont’s Maingate West neighborhood, close to Lake Davenport. Additional area points of interest include Disney’s Animal Kingdom and ChampionsGate Golf Club. Property Features. Florida Vacation Homes by IPG features coffee in the lobby and self parking. High speed Internet access is available in public areas. Guest parking is complimentary. Guestrooms. Air conditioned guestrooms at Florida Vacation Homes by IPG feature coffee/tea makers and hair dryers. All accommodations have patios. All rooms include separate sitting areas. At this 3 star property, accommodations include kitchens with microwaves and refrigerators. Televisions have cable channels. Rooms also include irons/ironing boards and clock radios. Notifications and Fees:Some properties have extra fees for amenities or services that may apply even if you do not use them. Government fees or taxes also may be charged to you when you check in or check out. This property told us they will charge you for the following: Cleaning fee: USD 75 per stay, varies per unit size We have included all charges provided to us by the property. However, charges can vary, for example, based on length of stay or the room you book.The following fees and deposits are charged by the property at time of service, check in, or check out. Cleaning/housekeeping/linens fee: USD 75 115 per stayLate check out fee: USD 65Pool heating fee: USD 35 60 per dayRollaway bed fee: USD 8 per dayCrib (infant bed) fee: USD 8 per day The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change. Notifications and Fees:Some properties have extra fees for amenities or services that may apply even if you do not use them. Government fees or taxes also may be charged to you when you check in or check out. This property told us they will charge you for the following: Cleaning fee: USD 75 per stay, varies per unit size We have included all charges provided to us by the property. However, charges can vary, for example, based on length of stay or the room you book.The following fees and deposits are charged by the property at time of service, check in, or check out. Cleaning/housekeeping/linens fee: USD 75 115 per stayLate check out fee: USD 65Pool heating fee: USD 35 60 per dayRollaway bed fee: USD 8 per dayCrib (infant bed) fee: USD 8 per day The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change.