 |
 |
Answers to your questions
Stay up-to-date on
Bermuda and The Club.
Sign up for
our Newsletter
Here are answers to some of the most frequently asked questions about ownership at The Reefs Club.
Still have questions? Please contact us or call (800) 493-0724.
If I purchase at The Reefs Club, do I own real estate?
How many ownerships will be sold?
What are the advantages of private residence club ownership?
Have private residence clubs been developed at other prestigious resorts?
As an owner, how often may I vacation at my Club?
Is The Reefs Club a typical timeshare development?
How do owners reserve Club lodging?
What if the number of owners wishing to stay exceeds the number of residences available?
Do Club Owners always stay in the same residence?
Can Club Owners reserve more than one residence during the same time period?
Do Club Owners have guest privileges?
What is the quality of construction, furniture and accessories at The Reefs Club?
Who establishes the dues and controls the affairs of the Club?
Is The Reefs Club open to the public?
Do owners pay any lodging charges when they stay at their Club?
If I purchase, when will I begin enjoying vacations at The Reefs Club?
What if I have more questions?
What is The Reefs Club?
The Reefs Club is an elegant, private residence club comprising luxurious two- and three-bedroom beachfront residences in the heart of Southampton, Bermuda. The Reefs Club boasts one of Bermuda’s most coveted locations and offers owners a wide variety of amenities and services, providing worry-free ownership to ensure hassle-free vacations.
<<Back To Top>>
If I purchase at The Reefs Club, do I own Bermuda real estate?
Yes. Ownership is evidenced by a real estate deed. Each Club owner is conveyed a 1/10 undivided, deeded interest in one of the Club's fully furnished residences, and has flexible access to all residences within their residence category (two- or three-bedroom). Like other real estate, ownership may be sold, willed or transferred at any time.
<<Back To Top>>
How many ownerships will be sold?
The Reefs Club offers only ten ownerships for each Club residence. With just 19 residences, that means 190 owners.
<<Back To Top>>
What are the advantages of private residence club ownership?
Residence club ownership is designed to provide owners with generous and flexible vacation use and remove the worries typically associated with foreign-home ownership. Residence clubs also significantly reduce the financial burden through shared ownership.
<<Back To Top>>
Have private residence clubs been developed at other prestigious resorts?
Yes. Since the early 1990s this ownership concept has been enthusiastically embraced by affluent buyers at premier resorts such as Aspen, Vail, Telluride, and Steamboat Springs, Colorado; Deer Valley, Utah; Napa Valley, La Quinta and Lake Tahoe, California; New York, New York; Florence, Italy; and Cabo San Lucas, Mexico.
Each of these residence clubs is owned and operated much like The Reefs Club. Similar residence clubs are being planned in a variety of other prestigious beach, golf, mountain and urban destinations.
<<Back To Top>>
As an owner, how often may I vacation at my Club?
As often as you wish, subject only to The Club's innovative reservation procedures and Bermuda Government policy. As a Club owner, you have the flexibility of reserving vacations well in advance, as well as booking on a space-available or short-notice basis. Additionally, owners may exchange vacations among themselves and consider other destinations through The Club's participation in Elite Alliance Select programs. If some owners visit their Club less often, other owners can visit more. You pay only the published housekeeping fees when you vacation at your residence.
<<Back To Top>>
Is The Reefs Club a timeshare development?
No. The Club offers real estate ownership and is enjoyed much like a private equity golf country club. Timesharing typically provides “points” or the right to use only a specific week and lodging is limited to a specific unit. Club owners have access to all Club residences of their ownership category (two- or three-bedroom) with flexible usage, subject to the reservations procedures and availability.
<<Back To Top>>
How do owners reserve Club lodging?
The Reefs Club reservation policy allows owners to reserve visits well in advance, while also accommodating space-available and short-notice vacation requests.
<<Back To Top>>
What if the number of owners wishing to stay exceeds the number of residences available?
The Club is designed to equitably allocate peak-period vacations when demand for lodging may exceed supply. A rotating Priority System ensures all owners have equal access to the peak-period vacations over the years. This system has proved fair and equitable for 20 years.
<<Back To Top>>
Do Club Owners always stay in the same residence?
No. To provide greater flexibility and availability, owners have equal access to all Club residences of their residence category. Requests for specific residences will be granted when possible.
<<Back To Top>>
Can Club Owners reserve more than one residence during the same time period?
Yes. Because Club owners are not restricted to a particular residence, they can reserve more than one residence at any given time, if sufficient residences are available.
<<Back To Top>>
Do Club Owners have guest privileges?
Yes. Owners may invite guests to stay with them in their two- or three-bedroom residence during their vacations and they may also invite unaccompanied guests to use any of their planned vacations without a guest fee.
<<Back To Top>>
What is the quality of construction, furniture and accessories at The Reefs Club?
Construction is of the highest quality and is comparable to other luxury Bermuda vacation residences. Vision Design of Dallas, Texas, created the sophisticated interiors of each fully furnished residence.
<<Back To Top>>
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 the annual fees are funds for property taxes, insurance, utilities, administrative salaries, supplies, maintenance, trash removal, legal/accounting, transportation, and reserves for the replacement and/or refurbishing of Club facilities. Please call (800) 493-0724 to request a Financial Information sheet for current estimated annual fees.
<<Back To Top>>
Who establishes the dues and controls the affairs of the Club?
An owner-elected Board of Directors will establish budgets and fees on an annual basis when the owners take control of the Club as prescribed by Club documents.
<<Back To Top>>
Is The Reefs Club open to the public?
When fully subscribed, the Club will be operated for the exclusive use and benefit of the owners and their guests. Prior to full subscription, limited public use will be permitted for marketing purposes. This type of use will not diminish availability for owners.
<<Back To Top>>
Do owners pay any lodging charges when they stay at their Club?
No. Owners do not pay for use of the Club residences. You only pay for housekeeping and gratuities while in residence and any additional requested services, like room service or spa treatments.
<<Back To Top>>
If I purchase, when will I begin enjoying vacations at The Reefs Club?
The Reefs Club is ready for you to enjoy today!
<<Back To Top>>
What if I have more questions?
If you have any additional questions about owning at The Reefs Club you may contact us toll-free at (800) 493-0724 or in Bermuda at (441) 239-0190. We would be happy to set up a conference call so both you and your spouse can participate. You may also e-mail us.
<<Back To Top>>
| |
||||||||
|
 |
|
||||||
