What Is A Residence Club?

“The new [residence clubs] are a far cry from traditional rustic getaways. Who's buying: people who want the cachet of a second home in a specific place, but don't want the expense and hassle of full ownership.”
The Wall Street Journal

A residence club is a fractional, vacation real estate development owned by members and operated for their enjoyment. Each member owns a fraction, usually ranging from one-fourth to one-twelfth, of a club residence, as well as an interest in the club facilities and common areas. Ownership in these clubs, sometimes called equity residence clubs™, is typically manifested by a real estate deed.

Most PRC communities feature spacious, thoroughly equipped and fully furnished apartments, cottages, townhouses, condominiums or detached homes accompanied by a private clubhouse with resort amenities and hotel services. Although a shared-ownership product, residence clubs differ significantly from timeshare in terms of pricing, prestige, flexibility and who buys them. Club owners have access to all club residences with the right to use anytime, subject to the reservation policies and availability. Owners can reserve club accommodations well in advance and also use them on a short-notice and space-available basis.

For more information on marketing residence clubs, call Dering Elliott & Associates at 435.645.7500, or email any DEA staff member profiled on this site's Contact Us page.