Frequently Asked Questions (FAQs)
We will continue to update this page with answers to your frequenly asked questions.
Before you read on we highly recomend you read "A Consumers Guide To Vacation Ownership"
produced by the American Resort Development Association (ARDA) by folowing this link:
Answers to your Frequently Asked Questions:
What Are Association Fees?
Association fees are fees paid each year to a HOA for the maintenance of
the resort. Just like taking care of a home, resort maintenance fees help maintain
the quality and future value of the resort property. In a vacation ownership resort,
maintenance costs are shared by all owners. They pay for onsite management, unit
upkeep and refurbishing, utilities and maintenance of the resort's common areas and
amenities, such as pools, and tennis courts. Just like residential
condominium owners, after management has been turned over to vacation owners,
they determine the fees through their HOA Board of Directors. The amount of the
yearly maintenance fee typically depends on the size, location, and amenities of
the resort. Maintenance fees are assessed and paid annually by each vacation owner.
What Are the differences between fixed or floating time?
Vacation intervals are sold as either fixed or floating time. With fixed time, the
unit, or unit type, is purchased for a specific week during the year. That week is
reserved for the owner every year, subject to cancellation if the vacation owner does
not plan to use it in a given year. Floating time refers to the use of vacation
accommodations usually within a certain season of the year, often within a three
to four-month period such as spring or summer. The owner must reserve his or her desired
vacation time in advance, with reservation confirmation typically provided on a firstcome,
firstserved basis. The purchaser at Jacob's Landing Condominum receives a deed under a floating time arrangement.
Some price differences are based on demand within each season.
More FAQs to come...
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