One of the most valuable components of Willows QS ownership is the flexibility (and amount) of use in a fractionally owned property.
Owners have an opportunity to select dates ahead of any new or returning guests by requesting dates by the deadlines for either the summer (and Christmas/New Year) period - due February 15, or the winter period - due by May 15. Owners can make advance reservations for up to two reservations of three nights; after that the reservation minimum is for five nights. As with most of the rules surrounding reservations these restrictions are in place to facilitate fair use in the program. By restricting short stays it limits too many owners from just booking weekends - which could potentially negatively affect revenue generation during high demand periods and also reduce the times available to other owners.
If you miss the deadlines all is not lost. Owners can make reservations at any times during the year. However, availability may be restricted due to other owner stays, or the reservations made by rental guests. If you only want to reserve one or two nights that is also possible. These short stays are only accommodated within seven days of arrival - effectively on a space available basis. While this may be challenging on weekends, there are definitely times during the year when short stays are possible, especially for mid-week dates.
As the "new" Willows gained traction we discovered that owner stays requested in the new building far surpassed those from the old building. Our goal has been to satisfy owner usage while also generating revenues that contribute to meeting the operational costs of the facility. To encourage owners to carefully consider using the units at peak times a number of "fee" periods were established throughout the year. These include Christmas/New Year, President's Week, Spring Break, and July 4 holiday period. These periods are highlighted in the email that requests owner dates, normally sent out one month prior to the deadlines. Most owners tend to avoid the fee periods, and as they are typically our most sought after dates from renters, this has the effect of bringing in higher revenues at those times of the year.
With increased number of sales of unit shares, and with a good proportion of new owners, use by owners jumped quite substantially. One aspect we wanted to encourage with all owners was to be aware that days not used and left in the rental program are not wasted. Indeed, they are vital for revenue generation. Additionally, it became clear that owners who used their allotment of days lightly were being penalized by heavier users. To remedy this inequity and to encourage owners to leave time unused, we initiated an owner credit program. For each full seven days owners leave available for rentals they receive a credit - $1,000 in summer and $2,000 in the winter.
Owners enjoying the property is one of the main goals of the Willows Quartershare Board. Being dynamic and addressing operating challenges without overburdening restrictions on reservations has been the predominant strategy as our owner use policies have evolved.
Owners have an opportunity to select dates ahead of any new or returning guests by requesting dates by the deadlines for either the summer (and Christmas/New Year) period - due February 15, or the winter period - due by May 15. Owners can make advance reservations for up to two reservations of three nights; after that the reservation minimum is for five nights. As with most of the rules surrounding reservations these restrictions are in place to facilitate fair use in the program. By restricting short stays it limits too many owners from just booking weekends - which could potentially negatively affect revenue generation during high demand periods and also reduce the times available to other owners.
If you miss the deadlines all is not lost. Owners can make reservations at any times during the year. However, availability may be restricted due to other owner stays, or the reservations made by rental guests. If you only want to reserve one or two nights that is also possible. These short stays are only accommodated within seven days of arrival - effectively on a space available basis. While this may be challenging on weekends, there are definitely times during the year when short stays are possible, especially for mid-week dates.
As the "new" Willows gained traction we discovered that owner stays requested in the new building far surpassed those from the old building. Our goal has been to satisfy owner usage while also generating revenues that contribute to meeting the operational costs of the facility. To encourage owners to carefully consider using the units at peak times a number of "fee" periods were established throughout the year. These include Christmas/New Year, President's Week, Spring Break, and July 4 holiday period. These periods are highlighted in the email that requests owner dates, normally sent out one month prior to the deadlines. Most owners tend to avoid the fee periods, and as they are typically our most sought after dates from renters, this has the effect of bringing in higher revenues at those times of the year.
With increased number of sales of unit shares, and with a good proportion of new owners, use by owners jumped quite substantially. One aspect we wanted to encourage with all owners was to be aware that days not used and left in the rental program are not wasted. Indeed, they are vital for revenue generation. Additionally, it became clear that owners who used their allotment of days lightly were being penalized by heavier users. To remedy this inequity and to encourage owners to leave time unused, we initiated an owner credit program. For each full seven days owners leave available for rentals they receive a credit - $1,000 in summer and $2,000 in the winter.
Owners enjoying the property is one of the main goals of the Willows Quartershare Board. Being dynamic and addressing operating challenges without overburdening restrictions on reservations has been the predominant strategy as our owner use policies have evolved.