Florida Fractional Ownership

Private residence clubs offer shared ownership of a specific luxury vacation property that is typically located in a resort. Owners are allowed to place the unused portion of their time in a rental pool, which can generate some income. An additional benefit is that owners may rent available units to accommodate large numbers of guests for a family or business gathering.

The cost of residence club ownership varies with location and the size and type of property, as well as the size of the ownership interval: units can range from $60,000 to $650,000.

Annual maintenance and management fees are charged. Owners bear little responsibility for the maintenance and operation of their property, which is a significant advantage over full ownership of a vacation property.

Many of the major luxury hotel brands have or are developing private residence clubs at their resort properties. Those active in this market include The Timbers, St. Regis, Raffles, Fairmont Resorts, Regent, Marriott Grand Residence Clubs and Ritz-Carlton Clubs.

Private residence club owners pay a premium for the pride of ownership at a brand-name property. While it is possible to sell residence club units, there is no established secondary market, and sponsor fees can significantly reduce the net sales price realized.