An effective and transparent operating structure

fractional ownership organizational and operating structure will be familiar to anyone who has ever owned a condominium or gated community home.

Each owner will pay dues determined by a budget prepared annually by Glenn Cooper based on anticipated operating costs and the need to accumulate reserves for repair and replacement of the property, furnishings and equipment. The budget will be subject to review and approval by a board of three directors elected by the owners. As manager, Glenn and his staff will ensure that the property is clean, well maintained, and ready for each owner’s arrival. They will collect the dues, pay the bills, keep the accounts, and make all day-to-day operating decisions. When items require repair or replacement, they will be free to access reserve funds and complete the work without an owner vote, guaranteeing that consistently high standards will be maintained for years to come. Unforeseen issues with more long-term ramifications will be submitted to the elected directors or, in extreme cases, to owner vote.