Frequently Asked Questions

Please click on the section title or scroll down the page to see all of the questions.

• Fractional Ownership FAQs
• Property Management FAQs
• Week Selection FAQs
• Wolfe Springs Resort FAQs

 

Fractional Ownership FAQ’s

What is Fractional Ownership

It is a form of carefree, shared cottage ownership. At Wolfe Springs Resort, you can purchase as many 1/10th shares as you wish of a furnished luxury vacation villa. With a 1/10th share, you get an undivided share of the entire property and facilities.

WHY DO MANY CONSIDER FRACTIONAL OWNERSHIP TO BE SUPERIOR TO FULL OWNERSHIP?

Cottage ownership can be an expensive proposition. A luxury waterfront cottage can be a sizable investment and the carrying costs of mortgaging a cottage can make the investment out of reach for many. In addition to the cost of purchase, you have operating costs such as waterfront property taxes, ongoing maintenance, insurance, etc. As well, even though the costs of full ownership continue 12 months out of the year, few people can actually enjoy the investment for more than a limited period of time. With fractional ownership, you only purchase the time you will reasonably be able to spend at your luxury vacation villa.

WHAT IS THE FINANCIAL BENEFIT OF FRACTIONAL OWNERSHIP AT WOLFE SPRINGS RESORT?

Wolfe Springs Resort is a one-time payment from $69,900 with annual payments for taxes, insurance, reserve fund contributions, and maintenance of approximately $3,100. With the average price of standard waterfront cottages (with year-round land access) in Ontario being $469,500, it is obvious why families are choosing to be part of fractional developments.

WHY IS SHARED OWNERSHIP A GREAT ALTERNATIVE TO COTTAGE RENTAL IN ONTARIO?

Cottage rental is always a bit of a risk. Your vacation experience is trusted to a stranger with a limited track record and little accountability. Wolfe Springs Resort is there for you year after year, built and managed by professional developers and a Property Management team with over 20 years experience.

HOW LONG WILL WE OWN OUR LUXURY VACATION VILLA?

Forever. Or until you choose to sell.

CAN WE LOAN OUR LUXURY VACATION VILLA TO FRIENDS OR FAMILY, OR RENT OUR VILLA?

Yes. If you are unable to use your luxury vacation villa, you can lend it to your family & friends or rent it out to members of the general public on your own. You must, however, provide management with advance notice and provide the names & contact information for all individuals that will be occupying your villa. All guests/renters will be bound by the Association Rules and you, as the owner of the villa, will be responsible for any damage that may occur. There is an owners website that all owners have access to aid in renting or trading any weeks that you are unable to use personally.

CAN I SELL MY LUXURY VACATION VILLA SHARE?

Your shares are your investment to keep within the family for life, bequeath in your estate or sell at your discretion.

HOW DO ONGOING PROPERTY MANAGEMENT DECISIONS GET MADE FOR THE PROPERTY?

The Wolfe Springs Resort Owners’ Association and its Shareholders own all the property and buildings. All decisions regarding the property and villas will be made by you and the Wolfe Springs Resort Association.

IS BUYING MORE THAN ONE SHARE ALLOWED?

Absolutely. In fact, we have several groups of siblings who consider this to be the perfect alternative to squabbling over the scheduling and maintenance tasks that come with the inherited family cottage.

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Property Management FAQ’s

WHAT ARE THE BENEFITS OF OWNING AT WOLFE SPRINGS RESORT?

In order to ensure that your vacation experience is unforgettable, there is a full-time maintenance crew to maintain the grounds and guarantee that your villa is thoroughly cleaned and prepared for your arrival. The docks will be ready, the grass will be cut, the leaves will be raked and the snow will be shovelled. All you have to do is arrive, drop your keys and relax.

WHEN IS HOUSEKEEPING AND MAINTENANCE DONE?

During the five (5) hour period between check-out and check-in time, each residence is thoroughly cleaned, linens are changed, and damage checks are completed, etc. so that your residence will be ready when you arrive. Grounds maintenance is continuous and there is always a number to call if you need assistance. Major repairs and maintenance are accomplished twice a year when the entire resort property is closed for one (1) week in the Spring Season and one (1) week in the Fall Season.

WHAT ARE THE ANNUAL PROPERTY MAINTENANCE FEES?

Less than you think. Annual fees are approximately $4000 (2021). Please see below for details outlining everything that is covered in the annual maintenance fee.

WHAT IS INCLUDED IN THE FEES?

Fees include all property taxes, insurance, contribution to the refurbishment reserve, property management fees, housecleaning, garbage removal, lawn maintenance, snow removal, high-speed internet, telephone, heat and hydro.

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Week Selection FAQ’s

HOW OFTEN CAN WE USE OUR LUXURY VACATION VILLA?

Each interval purchased entitles you to five (5) non-consecutive* weeks of exclusive use every year. You choose your specific villa and the prime summer week that you want to spend at Wolfe Springs Resort and they will be yours forever. Your remaining four (4) weeks are divided amongst the “Fall”, “Winter”, “Spring” and “Additional Floating Week” seasons.

HOW ARE OUR REMAINING FOUR (4) WEEKS OF USE CHOSEN EACH YEAR?

The four (4) non-summer weeks will be reserved by you annually in October for the following year. Your order of choice is determined at the time you purchase your Interval(s) and rotates one place each year to guarantee that each owner receives equitable holiday-planning opportunities.

IS IT POSSIBLE TO HAVE 2 “SUMMER” WEEKS BACK-TO-BACK?

*Absolutely! You have two potential options to achieve back-to-back warm-weather weeks at Wolfe Springs. The first is to buy more than one share and lock in your Fixed Summer Weeks together. The second option is to select Fixed Week 1 or Fixed Week 10 upon purchase. This will enable you to obtain two weeks in succession as the owners of Fixed Week 1 in the Summer season will have guaranteed use of Week 10 in the Spring season each year. Similarly, the owner of Fixed Week 10 in the Summer season will have guaranteed use of Week 1 of the Fall season that immediately follows.

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Wolfe Springs Resort FAQ’s

WHO OWNS THE PROPERTY?

You will be part-owner of a debt-free, not-for-profit Corporation called Wolfe Springs Resort Owners’ Association that will own all of the land, the villas, the furniture, golf carts, canoes, kayaks, paddle boats, docks and maintenance equipment.

IS BUYING MORE THAN ONE SHARE ALLOWED AT WOLFE SPRINGS?

Absolutely. You can buy as many 5-week intervals as you wish. Be sure to ask our team about the various options so that you can determine the best multiple–share strategy for your family and friends.

CAN I HAVE GUESTS?

The villa is yours to enjoy with whomever you please. There is, however, an overnight occupancy limit of eight (8) people, including children.

CAN WE LOAN OUR LUXURY VACATION VILLA TO FRIENDS & FAMILY OR RENT OUR VILLA?

Yes. If you are unable to use your luxury vacation villa during one of your selected weeks, you can let your family or friends enjoy it or rent it to members of the general public on your own. You must, however, give Property Management advance notice and provide them with the names and contact information of the individuals that will be occupying your villa. Of course, your renters will have to be good neighbours and abide by the association rules like all other owners and any damage caused will be your responsibility. Should you wish to avoid the effort in renting out your villa, for a nominal fee the Wolfe Springs Property Manager will be happy to assist you in this regard.

HOW DO ONGOING PROPERTY MANAGEMENT DECISIONS GET MADE FOR THE PROPERTY?

Day-to-day maintenance decisions will be made by the Property Manager while all major decisions regarding the property and villas will be made by you and your fellow members of the Wolfe Springs Resort Owners’ Association.

CAN I KEEP A BOAT AT WOLFE SPRINGS?

Certainly. You are welcome to keep a boat docked free of charge during your weeks of occupancy. Off-site storage for your boat trailer (during these weeks) is also available.

IS THERE A BEACH?

There is a beautiful sand beach on the property ideal for swimming, sunbathing and making sandcastles.

ARE PETS ALLOWED?

Wolfe Springs is a pet-free resort. As hard as this is for some, due to allergies and the finishing’s in the villas, this is much better for your investment.

IS SMOKING ALLOWED?

There is no smoking in any of the buildings on the property; however there are designated smoking areas outside.

IS THE TAP WATER IN THE VILLA POTABLE?

Absolutely! Thanks to our new, state-of-the-art water treatment and well system, taps throughout the villas provide water that is double UV filtered. As an added bonus, the water that comes from the dispenser in the fridge and the special drinking water tap in the kitchen island are Reverse Osmosis filtered as well!

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