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Fractional Ownership Frequently Asked Questions (FAQ)
Here are some of the frequently asked questions pertaining to Fractional Ownership.
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What is the main difference between Timeshare and Fractional Ownership?Timeshare allows allocated week/s use of property only, whereas in Fractional Ownership, you own the asset. It can be sold, put in trust, left in a will, rented out, and potentially increases in value.
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What is the average cost of a Layan Garden Fractional Ownership apartment?A 3 bed large apartment of 200m2+ for one month ownership from 2,850,000-3,250,000 THB
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How much would an equivalent 3 bed apartment cost to buy outright to same specification?From 23m - 28m THB!
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How much would a double room cost average at a 5 star hotel, say Dusit Laguna Phuket, in peak season per month?A Deluxe Lagoon View double room (cheapest room) in peak season 16,650 +18% taxes per night = 19,647 THB and for 30 nights = 589,410 THB**
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In what periods can I book my month/s?These weeks are allocated to the owners of the shares on an equitable basis and rotate annualy to ensure that more popular dates are accessible to all the owners. Your apartment is split with 50% of your time allocation each year in the "high season" of December until the end of May and the remaining 50% between June and November so you can plan your vacation to fit exactly with your holiday requirements.
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Can anyone use my apartment?Your apartment can be used by yourself and your family, your friends, your staff (great for incentives) and even rented out.
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What are the service and maintenance costs and how are they charged?Current monthly charges are 60,000 THB which include sinking fund, taxes, common area maintenance, administration, buildings and contents insurance, car service and parts, replacement new car every 3 years, furniture replacement, apartment upkeep, electric, water, concierge services, broadband internet, cable TV, shuttle service, airport transfers and much more. These charges are shared between owners of the apartment, so if 12 owners you pay 1/12th.
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What is the ownership lease period?The lease agreement is 30 years and is renewable for only the cost of land office re-registration which is split between owners. Currently that would be approximately only US$600 per monthly share!
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How is a Fractional Ownership purchase structured?The property is held by a private company created by the developer and is a legal entity through which any number of investors becomes co-owners (shareholders) of a property. The company sells shares to investors, who receive share certificates. This allows shareholders a predefined period of holiday weeks per annum depending on the percentage bought.
* Apply to Layan Gardens Fractional Ownership offering only.
** Published Prices at 25.08.08
