FAQs
As an owner of a Luxury Villa at The Palms Collection do I own real estate?
Yes, each Villa owner receives a deeded interest to the property in Cap Cana. As is the case with any real estate holding, your interest in this Villa can be sold and or transferred to family members at the owner's discretion.
What are the advantages of ownership of a Luxury Villa at The Palms Collection?
First and foremost, you get much more value and luxury Villa for your hard-earned money through the Palms Collection than anywhere else. Fractional ownership breaks the cost of owning a luxury home into eight equal parts with owners sharing the purchase price, maintenance, insurance, and taxes on the property spread overall owners instead of one buyer, thus saving you substantial money. Additionally, the Palms Collection provides you convenience and services that you wouldn't normally get if you owned a second home yourself. For example, our all-inclusive Palms Collection concierge program covers everything from grocery provisioning to restaurant reservation and travel bookings. The Palms Collection is designed around the concept of providing you flexibility and efficiency in your leisure time, to remove many of the headaches and the risks normally associated with owning vacation home properties and significantly reduce the financial burdens of second home ownership.
Is The Palms Collection of Luxury Villas a timeshare development?
No. Ownership of a Villa with The Palms Collection at Cap Cana is deeded real estate interest in a Villa. Timeshare is the ownership (or right to use) of one specific week and lodging is limited to a specific and like kind of unit.
Can I buy more than one share?
Yes, you may purchase more interest to allow you and your family more frequent use of the property. You can also buy additional interests as they may become available in the future from your fellow owners, or you may sell your fractional ownership interest to another owner, or any third party.
How often can I vacation at these homes?
As often as you wish, subject to the Residence Club Reservations Policies and Procedures. Owners have the flexibility of reserving Villa time well in advance, and also of visiting on a short-notice, space-available basis.
Each year, Owners may reserve 6 weeks of their Vacation Time in advance. This leaves additional occupancy for Space Available and Short-Notice Vacations. If every member uses the Club equally throughout the year, each member will have a minimum of 43 days at their Villa. However, there is no limit to the amount of use. If some owners visit The Residence Club less, other owners can visit more.
How does fractional ownership differ from wholly owned real estate?
Primarily, fractional ownership allows you to afford a much more luxurious, elegant and larger vacation property than you would normally on your own. All costs and expenses are all divided and shared amongst the owners vs. carrying the burden by yourself. Ownership is evidenced by a fee simple "Tenants In Common" grants deed to the property, backed by title insurance, exactly like the home you live in now. However, you still enjoy all the benefits of real estate ownership. This is a true value catering to discriminating investors who are looking for a second home but really don't want the full burden of owning a second home.
Is the home furnished?
Yes. Another significant benefit of fractional ownership is all Palms Collection Villas are luxuriously appointed with quality furnishings, linens and appliances-all designed to make your stay comfortable and enjoyable.
Can I have guests stay at the property?
It's important to recall that fractional ownership is true ownership. This is your home. That means that the home's use by friends and acquaintances is at your discretion for your scheduled time. Although it's important to note, each home has occupancy limits to protect the Villas for all owners.
Can I rent out my unused time?
No, we preserve any unused time for other Villa owners only. Owners appreciate this policy as it protects the home itself as well as all the owners' investment.
Can I exchange my priority time with another Co-Owner of the property?
Yes, you may exchange your time with any other Co-Owner to combine weeks, or to reserve your use of the property when it better fits your schedule.
Are there concierge or housekeeping services available to me?
Yes. This is what sets us apart. The Palms Collection Owners Concierge services are available to every owner as desired with services you would find in any luxury hotel. From restaurant recommendations and reservations, to adventure tour and yacht chartering, transportation and travel services to pre-arrival grocery shopping and private chefs, we take care of every detail.
What are the Operating Costs associated with fractional ownership?
In addition to the initial acquisition cost, you will share in the normal ongoing operating expenses including the utilities, property insurance, all maintenance, general household and cleaning supplies, toiletries, interim housekeeping, deep cleaning, repairs, the replacement of all furnishings as needed, bookkeeping, and the Property Manager's fee. All expenses are passed through to each Co-Owner on an equal and proportionate basis without markup to The Palms Collection.
Are housekeeping services included in my monthly fees?
Yes housekeeping is paid out of Owner dues to cover common areas and the full service provided when an owner leaves in preparation for the next owner, all arranged by the Palms Collection property management team. This departure service is very detailed and takes 5-6 hours to ensure the villa looks like no one was ever there before you arrive. Owners may request daily housekeeping for a nominal fee.
Should I decide to, how can I sell my share in the future?
This is a service that The Palms Collection can manage for you, should you decide that you wish to sell or transfer your ownership.
