Private Residence Club – FAQ’s
- If I purchase a condo at The Asheville Club at 151, do I own real estate?
- Yes. Ownership is evidenced by a real estate deed, which is recorded and guaranteed by a title insurance policy. Each owner is conveyed a 1/10 undivided, deeded interest in one of the fully furnished residences, and has flexible access to all residences within their ownership category. Like other real estate, your Asheville Club at 151 ownership may be sold, willed, transferred or placed in a trust at any time.
- What are the advantages of Residence Club ownership?
- The Asheville Club at 151 is designed to provide generous and flexible vacation use and remove the maintenance worries and significant financial burdens typically associated with vacation-home ownership. Residence Club ownership has been created for those who desire an elegant vacation or second home, complete with resort-like services that deliver a relaxing, hassle-free experience during every visit to your mountain getaway.
- As an owner, how often can I vacation at the Club?
- An owner can use the Club as often as they wish, subject only to Club reservation procedures. As an owner, you have the flexibility of reserving vacations well in advance, as well as booking short-notice vacations whenever available. There is no limit to the amount of time you can enjoy your Club. If some owners visit the Club less often, other owners can visit more often.
- Is The Asheville Club at 151 a typical timeshare development?
- No. The Asheville Club at 151 is owned and enjoyed much like a private equity golf country club. Timesharing typically provides the right to use only a specific week and lodging is limited to a specific unit. Owners at The Asheville Club at 151 have access to all Club residences in their ownership category (Grand or Executive) with unlimited usage, subject to the reservation procedures and availability.
- What if the number of owners wishing to lodge at the Club exceeds the number of residences available?
- The Asheville Club at 151 is designed to equitably allocate peak-period vacations when demand for use may exceed supply. A Rotating Priority System ensures that all owners will have equal access to high-demand periods over the years. This system is tried-and-true and has proved fair and equitable for more than 20 years at other residence clubs around the US and the world…with a 94% owner satisfaction rate!
- Do owners pay annual fees?
- Yes. Club owners pay annual fees for the professional management, operation and maintenance of all Club residences and facilities. These fees are significantly lower and are more comprehensive than those of a wholly owned vacation home. Included in these annual fees are funds for property taxes, insurance, utilities, administrative salaries, supplies, maintenance, window washing, trash removal, legal/accounting and reserves for the replacement and/or refurbishing of Club facilities. Owners receive a detailed audited report each year.