Did you know that the vast majority of Crystal Mountain’s lodging is privately owned by individuals and up-north-loving families? Even the hotel rooms are privately owned. This means you have many options to choose from when it comes to owning a place up north. What’s more, the ability to place your unit on Crystal Mountain’s rental management program means that you have the potential to off set your ownership expenses. Sound intriguing? Here are some of the more frequently asked questions we hear in the real estate office, to give you a head start in your exploration.
Really, I can own a hotel room? Yes – in fact, our hotel rooms boast some of the highest occupancy rates of all of Crystal’s lodging.
Is fractional ownership the same as a time share? No. The main difference between fractional ownership and a timeshare is that in a fractional ownership arrangement, you have a deeded interest in the property. If the property goes up in value, the fractional owner’s share also becomes more valuable. With a timeshare, ownership is not distributed. The owner purchases only “time slots” at a property, and these weeks or months do not rise and fall in value with the value of the property. The title is still owned by the principal owner.
What amenities come with ownership? Ownership itself does not provide the benefit of use of the resort’s amenities, but both participation in Crystal Mountain’s rental management program as well as membership in Crystal’s Four Seasons Club do. Good to know: with many of the listings through Crystal Mountain Realty, the seller is offering a complimentary membership to the buyer with the purchase of their unit. Now that sounds like fun!
If I rent my unit, what kind of income can I expect? The ability to rent your place when you’re not enjoying it yourself provides an opportunity to off set expenses associated with owning a second home. Factors such as how often and when an owner uses their unit themselves will affect its money-making capabilities. Crystal Mountain Realty has examples of income and expense histories for our listings – stop by and we’d be happy to go through the details.
As owners, can our pet join us in our unit? Yes – and we hope Fido or Whiskers does! They are part of the family, too, after all.