What is Fractional Ownership?
Fractional ownership is a model of co-ownership that allows you to maximize the enjoyment of owning a vacation home in Paris without the cost and hassle of maintaining a vacation home overseas. Each owner legally owns a fraction of the apartment and is able to sell, transfer or bequeath their share (renting is prohibited). An Owners Association, Inc. is established as a non-profit corporation, and its bylaws govern the usage of the home and group. Each share has one vote and you may purchase as many shares as you wish! Full details provided with the ownership package to interested parties.
How do I choose which weeks I own in Fractional Ownership?
In each of our fractional properties there are 13 shares, designated A-M, each of which entitles the owner to a total of four weeks usage per year. The four weeks are divided into two two-week blocks, about six months apart. Each year the usage calendar advances by ten weeks allowing owners to experience different seasons. The calendar is fixed for the next 10 years allowing owners to plan in advance and even trade with co-owners. Prospective owners will be provided the fractional calendar and they may choose their share letter prior to contract signing. Although the 13 co-owners will never physically occupy the apartment at the same time, they will all have access to a private online group to communicate and exchange information as much or as little as they desire. An annual online association meeting is also scheduled to discuss a variety of topics.
Why Fractional Ownership vs Timeshare or Vacation Exchange?
Fractional ownership is not a timeshare or vacation exchange. Rather you are part of a small, like-minded group of owners of a single property coming together to share usage and expenses to live the Parisian dream. As an owner, you typically enjoy more time, flexibility and potential for appreciation- all at a fraction of the cost and without the hassle of home ownership. Your ownership interest is directly tied to the value of the property you collectively own.
We’ve probably all sat through one of those sounds-too-good-to-be-true sales presentation for a timeshare. In a nutshell, with timeshares, you’re buying the right to use the property for a specific time period each year. It usually means less flexibility and no investment opportunity with added costs and little value.
Owning a vacation property is costly with ongoing expenses. Potentially to offset the costs, you put it in an exchange pool or choose to rent it out with a management company and vacation rental site. This comes with risks for the owner. Fractional ownership mitigates the risks with each shareholder playing a role in the ownership and optimizing the cost savings.
When will Maison Chapon be ready and what is the cost?
Maison Chapon shares are priced at $170,000 (US). There is an annual maintenance fee of approximately $3,000 and a one time contribution to a reserve fund of $2,000. There are no closing costs.
Maison Chapon is ready for occupancy and is selling now!
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What does the annual maintenance fee include?
The maintenance fee includes:
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Utilities: Electricity, Heat, Water, Waste Management
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Entertainment: High-Speed Internet, Cable + Streaming TV, Free International Phone Calls
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Weekly Cleaning + Linen Service: 1 visit prior + 1 visit during stay
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Bookkeeping
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Tax Filings
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Property Tax
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Building Association Fee
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Insurance
We make it hassle-free with no bills to pay. That way you can truly embrace your Paris stay!