Fractional Ownership Information
FREQUENTLY ASKED QUESTIONS

Experience LUXURY LIVING
in these modern cottages at FRONTENAC SHORES

 

What is fractional ownership?
It is a form of carefree shared ownership of a vacation residence. Ownership comes with the benefit of exclusive use of the cottage of your choice for a pre-determined amount of time.

Where is Frontenac Shores?
Frontenac Shores is located on Mississagagon Lake; a completely spring fed premier lake in the heart of Land O’Lakes vacation region. Frontenac Shores is less than 3 hours from Toronto and less than 2 hours from Ottawa located near the quaint village of Cloyne Ontario, making it your ideal vacation retreat.

Who owns the property?
Each share purchased equals 1/10th share of a beautifully furnished Confederation Log Home. Your ownership is inclusive of the cottage, furniture, fixtures, equipment, clubhouse and other amenities exclusive to this property – including the property itself. This innovative approach makes cottage life more enjoyable and affordable.

How long will we own our lakefront cottage?
Forever. When you purchase a share and become an owner, you are an owner for life!

Who takes care of the cottage and property?
Property management is initially set up for you by the developers and is contractually in place until the completion of the property, and is subsequently contracted annually, answering to the owners association’s board of directors. Fractional ownership in a cottage resort provides a practical foundation for property management creating an affordable hassle free cottage experience.

Can we sell our one-tenth share of our cottage?
Yes, after registration, you may sell or transfer one or more of your shares subject to the procedures set out in your ownership documents.

Can we loan our cottage to friends or family?
Absolutely. If you are unable to use your cottage, you can let your family or friends enjoy it. You must however, notify your property management in advance of the individuals who will be occupying your cottage and of course, you are responsible to ensure your guests are good neighbours and abide by all the rules.

Can we rent our cottage if we are unable to use it?
Yes, you can rent it to whomever you please and charge whatever rental you wish. If you rent the unit yourself, you keep all the money, however you are responsible for the renter. As above, your renters will have to abide by all the rules. If you do not want to rent it yourself, your property management may attempt to rent it for you and in doing so, they will become responsible for the renter. Naturally if management rents it they will charge a fee for this service.

Can we exchange our weeks?
If for some reason you are unable to use the week or weeks assigned to you, you can often do an “internal” exchange with other owners at the property. Or if you wish to travel the world you can do an “external” exchange of one or more of your weeks through an affiliation with one of the largest vacation exchange organizations in the world. They offer over 2000 resorts, villas, condos and beach homes in 75 countries.

Will we pay annual fees?
Yes. As an owner, you will pay a predetermined annual fee for the maintenance of the cottage, property and amenities. Included in these dues are funds for supplies, maintenance, cleaning, management services, garbage removal, legal/accounting, insurance, utilities, taxes on the property and reserve for replacement and/or refurbishing of the cottage and property, and all other expenses. Annual budgets are submitted by the association manager to the board for approval, then to the owners for ratification at the annual general meeting (AGM). The expenses in the budget are assessed equitably to each owner based upon the respective number and size/value of “Fractions” owned. Even when you include all services associated with carefree ownership, it will still be a fraction of the annual expense of full cottage ownership. That is the essence of fractional ownership – you purchase and maintain only what you use.

Will our annual expenses ever change?
Your owners association is a not-for-profit corporation, therefore your expenses are based on the actual cost of maintaining the cottages and property, with an accountant review and approval at the annual general meeting (AGM) of the owners. Your owners association is able to control the budget and change it if necessary to cover the expenses of maintaining the quality of the cottages, property and amenities.

Can we make changes to the property?
Not on your own. All of the amenities and common areas are co-owned and available for use by all of the owners. Changes and/or improvements may only be made according to a majority rule or as stated in the cottage owner legal documentation. Most changes would be planned in advance through your owners association management and presented to the association for approval. Your annual fee includes a capital reserve for improvements, maintenance and repairs.

When can we use our cottage?
You have exclusive use of your cottage for the weeks determined at the time of purchase. Each share purchased includes four (5) weeks in the cottage of your choice. You may purchase up to seven (7) shares. Your five (5) weeks are divided amongst the spring, summer, fall and winter seasons with an additional floating week. Your summer week is fixed and the spring, fall and winter weeks rotate annually. The choice of floating week also rotates annually.
Are there regulations concerning the number of people sleeping in my cottage?
Yes. The two bedroom cottages are designed to sleep six (6) and the three bedroom cottages are designed to sleep eight (8).

How and when is housekeeping and maintenance done?
Every week between check-out and check-in, each cottage is completely cleaned, linens changed, inventory checked, etc. so that your residence will be spotless and ready when you arrive. This service will be provided for multiple week stays during this period as well. Optional daily cleaning is available for an extra fee. Grounds maintenance is continuous and there is always a number to call if you need assistance. Major repairs and maintenance are accomplished during the annual two week unoccupied maintenance periods.

Can we bring our boat?
Yes. Your property amenities provide enough docking to supply each cottage with a slip for private or rental boats. Frontenac Shores has its own boat launch area as well.

Are there canoes and paddle boats for our use? Are there pontoon and motor boats available for rent?
Your recreation amenities include several canoes and paddleboats for occasional use during your stay – at no extra charge. For an extra fee you may reserve and rent small fishing boats, deluxe power boats and pontoon boats right from your current property management company that has been initially set up for you. Alternatively, there are several marinas within minutes drive that offer rental services.

Are pets allowed?
There are cottages designated as “pet-friendly” and also cottages designated as “pet-free” for those owners with allergies or who simply want to vacation in a “pet-free” environment. Strict pet rules, pet areas, and pet-free areas as specified in the owners association bylaws will ensure consideration for both “pet-friendly” and “pet-free” owners as well as the pet.

Is there a beach?
Yes. Frontenac Shores is located on Mississagagon Lake with over 2000 feet of shoreline and three natural sandy beaches. For the comfort and consideration of all owners, two beaches are designated as pet-free and one is designated pet-friendly.

Is smoking allowed?
At Frontenac Shores, all cottages and the club house are designated as non-smoking. There are designated outdoor smoking areas outside of your cottage and throughout the resort property.

What amenities are included or planned?
Your clubhouse will offer amenities such as an indoor pool and exercise equipment, billiards, shuffle board, game tables, telescopes for star gazing as well as a quiet area for R&R and reading. Fishing, hiking, boating, water sports, bird watching, nature photography, swimming, volleyball, horseshoes, snowmobiling, cross country skiing, snowshoeing and ice skating are among the many things to keep you busy. In addition there are two executive golf courses within a 5 minute drive of the resort and many more full 18 hole courses within an hours drive.

When will the first cottages be ready for occupancy?
We are planning occupancy for late summer 2007.