It is a format for the acquisition and use of vacation properties. They were born more than 20 years ago in Spain and were perfected in the United States for the purchase of luxury properties such as yachts, airplanes and mansions. A property at Los Molinos Hotel & Resort can have up to 12 owners, with each owner having 4 weeks of use per year, in perpetuity.
There is a global statistic that shows that a weekend home owner uses it, on average, between 28 and 35 days a year. But he has to tie up the capital of an entire property and bear all the maintenance costs alone. With fractional ownership, he pays only for what he uses. That is, 28 days a year, without major capital tie-ups and distributing the cost of property maintenance among the 12 owners. In addition, since it is a trust, it can be bought, sold, inherited or rented, without affecting the rest of the owners.
That’s how it is. Each owner receives a public deed that certifies him as the owner of that fraction in that property, which he can alienate, transfer or rent. If any of the owners suffers a seizure of their assets, this measure does not affect the rest of the owners of the property, since they are protected by the figure of the trust.
No, they are two completely different figures. In timeshare you are not an owner and you only acquire rights for the use of the property for weekly periods. In fractional ownership you are the owner of a fraction of the property, with trust deeds, becoming the owner of a property.
For the optimal functioning of a fractional property we have designed a model of rotational and equitable use year by year. It, like any shared property, has rules of use so that everyone has the same opportunities for selection in order of priority. Each owner has one week for each of the 4 seasons. They only have to let the administrator know when they wish to use them, so that they can be assigned to them.
Our system guarantees that all owners have their 28 days a year, 7 days to enjoy it in each season. According to the regulations, each owner chooses the weeks they want to occupy, at least 60 days in advance and then reconfirm it 4 weeks before occupying them.
Another advantage of our Fractional CLASS system is that, while ownership is exercised over a specific, identified property, use can be made, subject to availability, in any of the similar units available at our resorts. In addition, you can exchange them, through RCI, the world leader in vacation exchange, for weeks at any of our 6,500 resorts worldwide.
Our system allows a person to enjoy it from the moment they enter Los Molinos Members, our vacation club with important benefits. If your property is under construction, we give you the possibility to exchange weeks through RCI in any of the resorts that the system manages in the world and then replace them to the system, when they become available.
The system has a low maintenance cost, equivalent to 30% of the rack rate (list) in effect at the time of taking the unit. This cost includes taxes, municipal fees, common expenses, consumption (gas, electricity, water, Internet, satellite TV in the villa), insurance and maintenance of the unit.
Absolutely. The weeks belong to each owner, so it is possible to rent them and enjoy that rent. You must only pay the service fee to the complex, that is 30% of the current rack rate (list).
The system is designed for the owner to enjoy his weeks. However, if you only choose to rent your 4 weeks, depending on the type of unit and deducting the service fee, the owner can obtain an annual rent of up to 12% in dollars.