What is a Hyatt Residence Club?
How long will our ownership last?
Are our fractional interests financeable?
Who takes care of everything?
What happens if my plans change and I am unable to vacation to Breckenridge?
Will there be annual fees?
Will annual expenses change?
Can we make changes to the property?
It is a form of fractional ownership in a vacation residence. Ownership comes with the benefit of exclusive use of a residence for a pre-determined period of time each year.
How long will our ownership last?
Ownership is forever. You may sell your interest, transfer title to your heirs or to a charity of your choice.
Are our fractional interests financeable?
Yes. Very attractive consumer loans are available to qualified buyers
Who takes care of everything?
Property management has been arranged for you by the developers and is contractually in place, answering to the home owners association’s board of directors. Fractional ownership in a Hyatt Residence Club provides a practical foundation for property management creating a reasonable hassle free Hyatt experience.
What happens if my plans change and I am unable to vacation to Breckenridge?
There are many options. You can send friends or family in your place. You may submit your peak ski season time to the Hyatt rental program. As an owner you are provided a share in rental income received. You may request other time periods at your resort or to Hyatt Vacation Clubs and Hyatt Residence Clubs*. You may transfer time to the Hyatt Gold Passport points program** making it possible to access Hyatt Hotels worldwide. You also have a preferred membership with Interval International, one of the largest exchange organizations in the world. They offer exchange privileges to over 2000 resorts, villas, condos and beach homes in 75 countries.
* Subject to Hyatt Vacation Clubs Rules and Regulations
** Subject to Hyatt Gold Passport Program Terms & Conditions
Will there be annual fees?
Yes. As an owner, you will pay a predetermined annual fee for the maintenance of your proportional interest in the Hyatt property, associated common areas, and amenities. Included in these closely managed fees are funds for supplies, maintenance, housekeeping, management services, garbage and snow removal, legal and accounting, insurance, utilities, taxes on the property and reserve for replacement and/or refurbishing of the residences and common areas, 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 meeting. The expenses in the budget are assessed equitably to each owner based upon the respective number of fractional interest owned. Even when you include all services associated with ownership, it will still be only a fraction of the annual expense of full ownership. That is the essence of fractional ownership – you purchase and maintain only what you use.
Will annual expenses change?
Your owners association is a not-for-profit corporation; therefore your expenses are based on the actual cost of maintaining your individual ownership interest. A proposed budget is presented on an annual basis and ratified by the owners' representatives. Your owners association is responsible for the budget and may make changes as necessary to cover the expenses of maintaining the quality of the residences, common areas, 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 owners’ legal documentation. Most changes would be planned in advance through your owner’s association
