Now Offering All The Luxury At A Fraction Of The Price
The Strand Lakeside Resort is proud to announce it is now offering both 1/4 and 1/2 fractional ownership programs on select luxury homes starting at just $99,900, fully furnished, plus applicable tax.
Managed by Bellstar Hotels & Resorts, fractional owners will have access to the most refined resort lifestyle experience that includes:
- At least 12 weeks of guaranteed use per year
- A fully appointed, "ready to live" waterfront resort home only steps from Okanagan Lake
- Unlimited use of the Strand's spectacular amenities which include a year round hot tub and seasonal pool, a private marina and rooftop putting green and garden
- Access to additional assistance which includes personal concierge service, private transportation, valet boat service and guest accommodation
What is Fractional Ownership?
Fractional ownership is an arrangement in which a property is divided into equal shares and each share is purchased by a separate individual or entity. Each co-owner owns a percentage of the property and is listed on the title as an owner.
So what is available at the Strand?
The Strand's Fractional Ownership Program divides select waterfront homes into 1/4, 1/2 or whole shares depending on buyer preference.
As a Fractional Owner, what do I own?
Fractional owners will own a deeded property. Unlike what is commonly referred to as time shares, you will own your home and not just the rights to use or "rent" the property from time to time.
Why buy only a fraction of a home?
Fractional ownership makes sense for a variety of reasons and for a variety of buyers.
For some, a fractional ownership program enables a buyer to achieve their dream of owning a luxurious vacation home for seasonal and "getaway" purposes without incurring the expenses of whole ownership.
For others it is a rewarding and financially responsible way to diversify their real estate portfolios by buying fractional interests in multiple vacations homes around the world.
Fractional ownership offers lower acquisition and carrying costs while providing owners with all the emotional rewards of resort home ownership.
Fractional vs. Timeshares Why fractional is a strong investment
Legally, "time share" refers to any arrangement under which a group of people share use of a property based on time, regardless of whether they own the property.
From a practical perspective, there are significant differences between most of the arrangements referred to as "time shares" and the Fractional Ownership Program available at the Strand. Timeshares, as most understand them, do not involve direct ownership of real estate, meaning that the users of the property do not own or control the physical home, nor benefit from future price escalation, but merely own the rights to use it for certain periods of time. The Strand's Fractional Ownership Program is devised to provide owners with direct ownership of their new home, meaning that each user has a deeded interest in the property and thus owns real property, not just the rights to use a property from time to time.
As a Fractional Owner, when can I use my new home?
The most popular model for allocating usage rights is the "Usage Assignment Approach", a version of which has been adopted by the Strand Lakeside Resort.
In the "Usage Assignment Approach", each owner is assigned the exclusive right to use the home during a specified number of weeks or months each year. During an owner's assigned usage period, they can live in the home and allow family and friends to use it, rent it out (and keep the rental income), swap it or leave it empty.
A usage pattern will equitably allocate specific occupancy dates via a rotating calendar that gives owners occupancy in every season throughout the year. This also ensures that all owners will have equal access to high-demand, peak-vacation periods over the years. As well, allocated occupancy dates can be traded between homeowners sharing ownership in the Strand Lakeside Resort.
At the Strand, summer usage is divided into two-week increments, providing premium season enjoyment for all fractional owners. The balance of the season is in one week increments. By way of example, 1/4 owners will be entitled to use their unit during Christmas weeks for one in four years, and New Year's weeks for one in four years. Spending either Christmas or New Year's Eve at the family getaway for two of every four years is probably as much time as most families would care to spend away from their family home during the holidays. Therefore, all the benefits for 1/4 the cost!
What can I expect as a return on my investment, and can I sell it when I want to?
As a fractional owner, you have the right to sell your share at your own discretion. You set the price and sell it through whatever method you are comfortable with, whether through a realtor or a private offering.
Like any other real estate investment you can expect market driven returns on your investment. Unlike fully owned units, a lower price point means that your fractional share will be more appealing to a wider range of investors and resort home buyers.
For more information, please contact:
Toll Free: 1.888.988.7488