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Description: At Magnolia Private Residence Club, you own a 1/8 deeded interest in a particular residence. As such, your interest can be sold, resold or willed like any other form of real estate. It is possible that you will stay in a residence other than the one in which you have an ownership interest, depending upon availability during that particular stay. All residences are designed identically, but each will have a different view, so you have the flexibility of enjoying different views and elevations on each visit. Your ownership interest entitles you to two planned weeks. Additionally, you enjoy unlimited use beyond your guaranteed 2 weeks, on a first come, first served, space available basis. Essentially, you can use the residence club like a hotel during this “bonus time”, subject to availability, and the only additional cost of the bonus stay is a housekeeping fee.
As an owner, your friends and family are welcome to use the facility, and you don’t have to worry about providing them a key, collecting cleaning fees or managing the reservation of the residence. The staff handles all of that when your guests arrive. However, in order to preserve the exclusivity of the property, and to provide maximum availability for all owners, you cannot advertise your residence for rent.
For many, Fractional Ownership provides the perfect mix of convenience, service and amenities, and low cost, when considering the purchase of their vacation/second home.