What does Quarter Ownership Real Estate Mean in Whistler?
One of the least understood property ownership option in Whistler is Quarter Ownership.
Simply stated, quarter ownership entitles you and your family to one week of personal use out of every four weeks.
The weeks allotted to each quarter owner are spelled out in a long-term Rotational Schedule. The Rotational Schedule is designed to make it as fair as possible for each quarter owner. For example, each owner will be entitled to use their property during Christmas week once every four years. If you are not using the unit during the days that are yours to use, you have the option of renting it through an in-house rental management company. You can share your personal days/weeks with friends and family, but you cannot self-manage the rental of your property. You also have the option of trading weeks with your fellow quarter owners.
All expenses related to the ownership of the property including your share of property taxes, strata fees, insurance, utilities & Tourism Whistler Fees are covered in you monthly fees. Rental management fees are dealt with separately and are not part of your monthly ownership costs.
There are three quarter ownership condominium properties in Whistler.
Two (Evolution & Legends Lodge) are located within shouting distance of Whistler’s Creekside Gondola and the third property (Horstman House) is in the Upper Village which is also referred to as the Blackcomb Benchlands.
Evolution and Legends Lodge are managed by Lodging Ovations https://www.lodgingovations.com/.
Horstman House is managed by Whistler Premier https://www.horstmanhouse.com/.
There are subtle differences between each property and how each is managed, but the basic principles are the same. Evolution is the one “pet friendly” quarter ownership condo property in Whistler.
There is no mortgage financing available for quarter share properties, so the most common way to purchase is cash or using a line of credit. Rental revenue is modest and if the owners use the property at prime rental times such as Christmas week, spring break etc. they forgo rental revenue for that time.
If Whistler is the #1 destination for your family regardless of season and activity, then quarter ownership might be an option for you and your family to enjoy all that Whistler has to offer during your weeks.
Current Listing, November 24th, 2020: 105D-2020 London Lane, Evolution, Whistler – $125,000