Fractional Ownership?
I have a person that wants to trade me for his fractional ownership in this resort. He has a 1/4 ownership (13 weeks) in a studio. What is it worth? Fees? I have no idea about this type of ownership and what Id be getting myself into. I DO go to Tahoe frequently and rented one of these rooms...very nice. Any advise? Is it worth nothing? $5,000,$20,000? 25,000? Please help! Thank you.
Vinal M.
I did not see a response even though you posted over a year ago. I am a fractional owner at this resort. I have 13 weeks. I try to rent most of the prime season, occupy 2 or 3 weeks a year, and the rest I put in to Marriott Destinations.
I love the resort and the concept of fractional ownership. It gives me a lot of flexibility. Right now, there is a fair amount of inventory on the market including some summer and winter-only weeks as well as studios and fractional. A studio goes for around $20,000 depending on view. (Pool and mountain are the best.)
The fees are high, but if you calculate the per week cost, they are probably lower than a lot of other resorts. Remember, that your ownership is probably 13 weeks and so naturally the fees are higher. The typical 13-week HOA fee at the GRC is around $4,200 for a studio and $8,000 for a 1-bedroom.
Honestly, there are better deals to be had for 1-bedrooms than for studios.
Note that right now Marriott is not allowing "new" owners to contribute their newly owned weeks in to Destinations. IMHO, that stinks because I am seriously considering adding an additional fraction in a different quarter.
If you are still looking, let me know. I do love the resort and believe in this particular property.
Jim M.
