The following FAQ’s (frequently asked questions) discuss common features of private residence clubs and the benefits of owning this particular form of fractional real estate. However, since every residence club is unique, you are encouraged to call specific clubs or visit their websites for detailed information.
What is a Costa Rica Private Residence Club?
Our Private Residence Club is a shared-ownership vacation property that offers all the benefits of having a second or vacation home, but allows you to avoid the drawbacks associated with whole ownership and/or timeshare. Conceptually, Residence-Club ownership is similar to membership in a prestigious equity golf country club—except that you reserve time at your vacation home rather than tee times.
What are the advantages of residence club ownership?
Here are the big three:
- Price: Residence clubs dramatically reduce the financial burden of purchasing and maintaining a second home through shared ownership. So, you can own a vacation home that fits your lifestyle and family size at a fractional price.
- Convenience: Residence club ownership allows you to avoid the headaches of upkeep. Your club home is kept clean, secure and well-maintained by a professional staff—giving you more free time to spend vacationing.
- Luxury: Most residence clubs offer vacation-enhancing extras that are simply unavailable with whole ownership, such as concierge service, chauffeured airport transportation, and comfortable owners’ lounges and club houses. Additionally, worldwide exchange programs are available to owners.
How do Costa Rica Private Residence Club differ from timeshare?
Both are vacation products, but Residence Clubs deliver far more prestige, luxury, exclusivity and vacation time. Residence clubs are designed to feel and function like your personal vacation home.Our Costa Rica Private Residence Club also gives you part ownership of the property. In contrast to timeshares—which offer ownership of a specific week—residence clubs allow you to request vacation times of your choosing each year. In addition to these planned vacations, most residence clubs permit you to schedule last minute vacations on a space-available basis (and typically at no additional cost).
If I purchase a residence club, do I own real estate?
Yes. Costa Rica Private Residence Clubl ownership is evidenced by a real estate deed that conveys an undivided, deeded interest in one of the club’s residences. Although you ownership deed applies to a specific residence, you enjoy access to all residences within your residence category (i.e. two- or three-bedroom floor plans) for maximum vacation flexibility. As with other real estate, you can sell, will or transfer your club ownership at any time.
What ownership fractions do residence clubs offer?
Costa Rica Private Residence Club offers ownerships ranging from 1/6 to 1/14, which is why this is sometimes referred to as interval ownership. Most residence clubs offer only one fraction option, which is typically based on anticipated owner use and seasonality.
No, not typically. To provide greater flexibility and availability, owners have equal access to all club residences of their residence category. Requests for specific residences will usually be granted when possible.
Can owners reserve more than one residence during the same time period?
At Costa Rica Private Residence Club, yes. Because you are not restricted to a particular residence, you may reserve more than one residence at any given time, if sufficient residences are available.
Do owners have guest privileges?
Yes, most do. Guests may stay with you in your club residence during your vacations (based on the clubs maximum occupancy). Also, you may invite unaccompanied guests to use any of your planned vacations. Once again, this varies per club.
Do owners pay annual fees?
No. Owners only pay a users fee which covers management, operation and maintenance of club residences and facilities. When using there week.