How does the exchange program work?
- Fractional ownership is commonly confused with the time-share, which is NOT ownership of real estate but the purchase of blocks of time to use a property.
- The main benefit to a rotation schedule is that you have set weeks, The most popular rotation sold so far is the Summer Plus - Eighth which gives an owner two fixed summer weeks each year either in June, July, August or September depending on what they like. In the remaining months of the year the owner will have 4-5 rotating weeks. Within an 8-year period they will rotate through each week in the Fall, Winter and Spring months. This makes the schedule very diverse and fair for all owners.
- Other benefits to a rotation schedule are that you can plan ahead. Take “off” weeks to either rent out through our Property Management Company, or use the RCI points system to your advantage allowing you to trade up the off-season week(s) in advance to book back prime weeks at your home resort on a first-priority basis through the exchange program.
- You have the option to use accumulated points to travel to over 5000 resorts in more than 100 countries!
- Travel Benefits: Receive members-only rates on airfare, car rental, hotels, and vacation packages. Receive discounts with preferred travel partners, and get help from skilled, knowledgeable travel specialists.
- Book a last minute vacation (30 days prior) with RCI and only pay as low as $299 for a 5-bedroom condo at Marble Canyon and other places around the world. (based on availability).
What are some of the maintenance highlights?
- The Residences have been built to accommodate traffic coming in and out, with quality and sustainable products
- All units are constructed to maximize green principles and minimize future maintenance and refinishing:
- Plastic wood (Rhino Board) community decks and Duradek private decks have permanent waterproof protection – no leaks, no repairs, no unsightly wear
- Concrete HardiePlank Siding – build for the extremely hot summer months in the Valley and the snow season in the winter and no need for painting
- Xeriscape native landscaping with natural rock – no need to water.
- Aluminum rails on all decks
- 40 year Architectural profile asphalt shingles
- Condo Fees: The strata fees cover everything outside of the building; HOA fees cover everything else (inside and out including property taxes). Whole owners are only responsible for strata fees and can opt to pay their utilities and property taxes on their own.
- The layouts are smart and functional for the entire family. The kids can have privacy in the rec room while the rest of the family can entertain on the main level
- No need to bring any supplies or furnishings. Upon arrival, there is a Home Theatre System and brand new gourmet cooking utensils for the kitchen. Some of Canada’s top chefs have prepared gourmet cuisine in the same kitchen!
- A full-time maintenance co-coordinator is on site at all times. Anything from painting touch-ups to air-conditioning services and everything in-between.
- Routine maintenance is provided at no charge to rental owners
- An example of maintenance fee: ¼ Share in a Purcell Unit = $309/month for Strata/HOA fees
The Residences has a finance program?
- Financing options are available on fractional home ownership – this is extremely rare to see!
- If you ask a sales representative, he or she will give you more information about the fractional financing available
How does the rental program work?
- Fairmont Creek Property Rentals (FCPR) is a team of recreational property rental experts specializing in the Fairmont area. FCPR provides recreational property owners with an effortless means of earning significant rental revenues from their property when they aren’t using it themselves.
- If your vacation home sits empty for much of the year and you feel you spend half of your vacation doing the maintenance work, call us – we will explain how your vacation home can be kept up, secure and provide an opportunity to earn significant revenues from the property when not in use by you.
- The management fee is 40% of the adjusted gross unit rental revenue. This fee covers marketing and sales for rentals, management of personnel, housekeeping, and laundry labour and supplies, housekeeping services to guests, maintenance services, and year-round front desk and dedicated support and assistance to guests and owners.
- As a quarter or eighth interest owner, the majority of costs are included in your HOA (Home Owner Association) fees such as utilities, cable, phone, internet, refurbishing fund, property tax, annual deep clean fee, unit repairs, and maintenance
- The Residences offer a good rental return by staying competitive with other resorts in the area, and maximizing the huge database that Fairmont Creek Property Management has created over the last decade.
How does our housekeeping staff prepare for you?
Fairmont Creek Property Rentals maintains a fully trained housekeeping staff and supplies all guests with bed linens, towels, and soap supplies. After the guest or owner has checked out, the staff cleans the property. In the case of owner occupancy, there will be a charge to cover the cost of the housekeeping and linen service; this shall be applied to the owner's monthly rental income statement.
- provides bed linens, all towels, tea towels and dish cloths.
- stocks each property with garbage bags, dishwasher soap, light bulbs, paper towel, toilet paper, bath soap, Kleenex, and laundry soap.
Deep Clean ProceduresFairmont Creek Property Rental has found that the best way to properly maintain the high quality properties we manage is to be diligent with annual deep cleans, carpet cleaning and maintenance. An annual deep clean is done on each property, usually in the fall.
Items included in a deep clean are as follows:
- KITCHEN: wash all cupboards inside and out, wash all walls and light fixtures, pull out fridge and stove and clean behind.
- BATHROOM: scrub all surfaces, wash cupboards inside and out, wash all walls and light fixtures.
- ALL OTHER AREAS: wash all walls and light fixtures, move all furniture and wash, vacuum edges and wash baseboards.
- BBQ's: thoroughly scrubbed and cleaned out