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Many people are investing in vacation properties through
a program called 'fractional ownership', a system that allows
you to buy a small fraction of a cottage. We came up with
a better way for you to buy your vacation home: imagine 'fractional
ownership' without the small fraction. Then we built The Cottages
at Pine Cove just 3.5 hours drive north of Toronto on the
banks of The French River, one of the most beautiful and untouched
natural areas in Ontario. And finally, we made our prices
reasonable and affordable. No tricks. No gimmicks. Just beautiful
cottages at fair prices in a spectacular setting north of
Toronto.
For more information read the Freqently Asked Questions section
provided below or contact :
Alex Strachan or Janine Suboch
The Lodge and The Cottages at Pine
Cove
P.O. Box 91, Noelville, Ontario, Canada, P0M 2N0
Phone: 705-898-2500
Fax: 705-898-2045
Email: info@frenchriver.com
View a video of The Cottages
Click here to read an
article on 'fractional ownership' without the small fraction.
The Cottages at Pine Cove: Frequently
Asked Questions
How long can I use my cottage each year?
A half-share in a cottage will give an owner 6 months use
of a cottage each year, excluding the time needed to safely
open and close (see below) the resort.
When can I use my cottage each year?
Cottage use will be divided into 2 seasons: Season 1 will
run from the beginning of February to the end of July; and
Season 2 will run from the beginning of August to the end
of January. Each year cottage owners will rotate Seasons.
In other words, if the Smith family used the cottage during
Season 1 of 2007, while the Jones family used the cottage
in Season 2, the families would rotate Seasons for 2008.
This time rotation system means that every second year each
owner will get 2 contiguous Seasons use of the cottage, less
the time (see below) required for the official opening and
closing of the resort.
Can I use my cottage in the winter?
Cottage owners wishing to use their cottage during the months
of November through April can do so; however, there will be
no sewage, drainage, or running water will be available during
this time period. A public compost toilet will be available
to owners for this time period and fresh water will be available
from a tap near the main Lodge. The Lodge will not be open
during these months to provide any services to The Cottages.
What size cottages are available?
The Cottages are available in 1-bedroom, 2-bedroom and 3-bedroom
configurations.
How many cottages will be built at The Lodge?
There will be a total of no more than 18 cottages built, of
which 12 have been constructed and are ready for use.
What price will I be paying for ownership?
2006 Season prices for a single cottage unit (a half-share
on a cottage) will range from $110,000 for a 1-bedroom to $160,000
for a 3-bedroom.
Can I buy a whole cottage?
Yes. The cost of a full cottage is double the cost of a single
cottage unit. All other policies and features remain the same
except those that govern the sharing of a cottage.
How are the cottages constructed?
The Cottages are a frame construction and each one is unique
and hand-built by craftsmen. Cedar siding, white and red pine
with spruce beams are the main construction timbers used.
A separately metered electrical service and sewage pumping
station comes with each cottage. Roof materials are either
anodized ribbed steel or cedar shingle, and the walls and
roof of the cottages are fully insulated.
What comes with my cottage?
All cottages are fully furnished with very beautiful handcrafted
furniture, bathrooms
(shower, toilet and sink), bar fridges, stand lighting, screened
porches, living areas and equipped kitchens. The beds are
custom made with deluxe mattresses. The two and three bedroom
cottages are equipped with wood burning stoves, and all cottages
have electrical convection wall mounted units for supplementary
heat.
Can I have guests?
Yes. Your guests can stay with you in your cottage provide
the numbers do not exceed the limit established in the regulations,
or they may sat at the 'Bunky', a large cottage set aside
for the use of the guests of the cottage unit owners. The
'Bunky' is situated close to the main cottages, and is owned
by the cottage unit owners through the nonprofit organization.
Is there any charge for my guests staying in the 'Bunky'?
Yes. The cottage unit owner will be charged $50.00 per night
per person for use of the 'Bunky'.
Who gets the money I pay to have my guests stay in the
'Bunky'?
The money is paid to the nonprofit organization with 75% being
allocated toward lowering the monthly maintenance fees of
the cottage unit owner who rents the 'Bunky' and 25% going
into the general revenues of the nonprofit organization.
Questions about maintenance services
How much are the maintenance fees?
The maintenance fees are $200.00 per month per cottage unit.
This money is paid to the nonprofit organization that is owned
by the cottage unit owners so it can conduct and pay for the
necessary maintenance on behalf of the owners. The end result
is that the cottage unit owners control the maintenance thereby
avoiding the costly markups levied by management companies
that contribute to dramatically higher maintenance costs.
Full details of what is covered by the maintenance fees are
available in the legal documents.
When will my maintenance fees go up?
Maintenance fees can only be increased with the approval of
the directors of the nonprofit organization. In other words,
the fees will only go up if the cottage unit owners deem it
is necessary. Your maintenance fees are not controlled by
a for-profit management company, but by the owners themselves.
What happens to any money that the nonprofit organization
does not need to use for maintenance in any given year?
Any money not needed for maintenance in a given year becomes
the asset of the nonprofit organization, to be invested or
used for the benefit of the cottage unit owners.
Who maintains my cottage and the common property?
There will a full maintenance program managed by the non-profit
corporation that is controlled by the cottage owners. A full
time maintenance person will be on site during daylight hours,
and after hours the maintenance person can be contacted by
telephone.
Who cleans my cottage?
All cottages will be cleaned once per week from the second
week of May through to the third week of October, on a schedule
to be posted each season. At the end of each annual ownership
period, the housekeeper will clean each cottage prior to the
arrival of the next occupants. These cleanings will be part
of the annual maintenance program.
If an owner wishes daily maid service, this may be arranged
through the maintenance manager and paid for by the individual
requesting the service.
Questions about legal matters
Who can answer any legal questions my lawyer or I might
have?
The Lodge at Pine Cove Cottages, has retained, Tom Pinckard,
to answer all legal questions. Mr. Pinckard is a highly regarded
lawyer who considered by many in his profession to be one
of Ontario's leading experts on lifestyle real estate law.
Please contact the lodge for an introduction to Mr. Pinckard.
Does my ownership of a cottage unit have a time limit?
No. Unlike the vast majority of timeshare and fractional ownership
schemes, your ownership of a cottage at The Cottages at Pine
Cove is perpetual.
Can I sell my cottage unit, or leave it to my heirs?
Yes. The cottage unit is your asset, and as such can be disposed
of as you see fit provided that the new owners agree to abide
by the rules and regulations governing The Cottages at Pine
Cove.
Will I own the land the on which my cottage is built?
Yes. The land on which the cottages are built is owned and
controlled by a nonprofit organization that in turn is owned
and controlled by the cottage unit owners. Moreover, like
the ownership of the cottages, your ownership of the land
is perpetual.
How do I learn more about the rules and regulations governing
the nonprofit organization?
All cottage unit owners will be provided with legal documents
containing the full details of the rules and regulations governing
the nonprofit organization and the purchase of a cottage unit
at The Cottages at Pine Cove. These documents will be provided
in advance of the completion of the purchase of a cottage
unit so that your lawyer can review them. In addition, questions
about these documents and any other related legal issues could
be discussed with our lawyer, Mr. Thomas Pinckard (see above).
Who will manage the nonprofit organization?
The nonprofit organization will be manager by a board of directors
made up of the owners of the cottage units and duly elected
by the owners of the cottage units according to the rules
and regulations governing the nonprofit organization.
Questions of a general nature
Will there be lots of other resort developments in the
area?
No. All of the land around the French River system is either
provincial park, government owned Crown Lands, or the Dokis
First Nations lands, and as such, will never be developed.
Will I be able to 'trade' the use of my time at my cottage
with other cottage owners?
Yes. The Lodge will establish a computer-based trading system
so that cottage owners can easily exchange time with other
like-minded owners. Participation in the trading system by
cottage owners will be strictly voluntary.
When will the resort officially open and close each year?
The last week of April and the first week of May will be used
to open The Lodge and The Cottages for the main season, and
the last week of October and the first week of November, will
be used to close the resort for the winter. Cottage owners
will not be permitted access to The Cottages during these
times so that any maintenance required on the individual cottages
and the main property can be safely completed.
Can I rent my time at my cottage to people that do not
own one a cottage unit?
Yes. The owner is fee to rent to other people, provided that
the people renting the cottage conform to the official rules
and regulations of the resort.
Can I ask The Lodge to look after the rental of my cottage
unit?
Yes. The resort will be pleased to look after all the details
of renting your cottage in accordance with the terms between
the resort and cottage owner governing such and eventuality.
How is the swimming?
The swimming is ideal. The water immediately off the shore
in front of the cottages quickly drops to depths of over 50'
and so is a perfect place for a competent swimmer. Those cottagers
who are not comfortable swimming in deep water, or people
who simply want to paddle, will enjoy the warm, shallow water
just off our sandy beach. The water is fresh and clear, as
the water in a provincial park should be, and our beach is
almost the only natural sand beach on the entire river system.
Is parking available?
Yes. The Lodge has a parking lot.
Can I keep a boat on the property?
Yes. A cottage unit owner can purchase a slip at the communal
dock used by The Cottages and The Lodge.
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