Ownership
Shared cottage ownership, explained.
What it is
Shared ownership. It is not a timeshare.
Shared cottage ownership is an attractive alternative to owning your own cottage. You buy shares in a cottage and leave the maintenance worries to someone else.
Most families cannot use a cottage full time, so sharing one makes sense in both time and cost. Your cottage is 100 percent owned by its 10 shareholders: there is no developer or resort company holding the title.
Five weeks of carefree cottaging
Each share, called an interval, gives you five weeks a year: one fixed week every summer, plus four more weeks through the year chosen by you on a rotating basis. Many owners hold two shares (10 weeks a year) or three (15 weeks).
You can buy as many shares as you please. Weeks you can't use can be rented out or traded with other shareholders.
Fees based on actual costs
Annual fees cover all service and maintenance for your cottage. The property is managed by a professional property manager hired by a board of directors made up of your fellow owners. You pay only an annual maintenance fee based on what things actually cost.
The owners association
All owners belong to the Marcus Beach Cottage Owners Association, a not-for-profit corporation under the laws of Ontario. Management oversight comes from a small board of directors, owners who volunteer their time and expertise. The board meets regularly and reports to owners at the annual general meeting; minutes, financial statements and the owners' agreement are in the owners area.
A doorway to other vacations
Your cottage is also the doorway to other vacation dreams. Marcus Beach is an RCI subscribing member, so owners can join RCI and exchange their weeks for stays at more than 3,700 affiliated resorts around the world.
Buying or selling a share
Shares are sold by owners, not by the association. Shares currently for sale are on the sales and rentals page. Owners who are selling will find the steps and the no-agent sales agreement in the owners area.