What is Shared or Fractional Cottage Ownership?
Co-owning a cottage presents an appealing option to having sole ownership of your own vacation home. This arrangement involves acquiring shares in a cottage while relieving yourself of the upkeep responsibilities.
Given that many families are unable to utilize a cottage on a year-round basis, this approach makes practical sense both in terms of time commitment and expenses.
At the Group of Seven, acquiring an interval or share entitles you to five worry-free weeks of cottage enjoyment. This comprises one fixed week during the summer and an additional four weeks throughout the year, which you can choose on a rotational basis. Some owners even possess two shares (equivalent to 10 weeks per year) or three shares (totalling 15 weeks per year).
The annual fees encompass all the necessary services and maintenance for your cottage. You have the flexibility to acquire multiple shares according to your preferences. Furthermore, any weeks you're unable to utilize can be rented out or exchanged with fellow shareholders.
Ownership of your cottage is distributed evenly among the ten shareholders. A professional property manager, appointed by a board of directors consisting of fellow cottagers, oversees property management. Your financial obligation is limited to an annual maintenance fee based on actual expenses.
In addition, your cottage opens doors to various vacation possibilities. Through fractional ownership at Marcus Beach, you gain membership in RCI, enabling you to exchange your designated week(s) for stays at over 3,700 affiliated vacation properties worldwide.