This is a unique fractional ownership opportunity that combines deeded real estate ownership, easy and open use with a cost covering rental program that provides owners outstanding value in the Vail market. Please contact Tim Hargreaves at the property or email firstname.lastname@example.org for program details or review the following overview.
28 owners share in 9 two bedroom units, when owners are not using the property the units are rented out and the revenues generated are shared and used to cover operating costs such as maintenance fees, property tax and housekeeping for owner stays.
Owners have unlimited use of the property during the shoulder and off-season. During peak season owners may use the unit for up to 28 days in the winter and 28 days in the summer. There are no blackout dates or fixed use times, and owners get preferred reservations before the property is opened up to rental guests.
Owners are assigned a deed (quarter share) of a particular unit. There are 36 shares in the building; eight are owned by the owners as a group and 28 are deeded to individuals.
The owners become members in two LLC's, end of year tax accounting is straightforward and easy through two K-1 statements.
This program has been operating at the Willows since the inception of the original building on this location in 1970. Over four decades, owners have experienced worry free vacation home ownership. A dedicated management team runs the building taking care of all maintenance issues and generating the revenues that have made the program successful. Often times buyers will purchase a traditional vacation property only to realize that their dream comes along with many headaches and unforeseen responsibilities. At the Willows any such problems are negated. The program is overseen by the owners (there is a five member board) and ultimately the needs of the owners are the number one priority. This is not a corporate operation that needs to generate profits from the condominium owners.
The deeded property can be held in a trust or passed down to heirs. The unique revenue sharing program means that heirs who may not be able to afford a more traditional real estate property in Vail can continue to use and enjoy Colorado in perpetuity.
The following video touches on some of the key advantages to owning at the Willows: