How are fractional vacation homes managed?
It is useful to divide fractional vacation home management tasks into four categories: usage allocation, accounting, cleaning, and repair. Any of these jobs can be handled by either co-owners or outside professionals, can involve compensation of not, and can be combined as needed for efficiency or convenience. The tasks involved in usage management will be different depending on whether the group is using a Usage Assignment Approach or a Pay-To-Use Approach. If the Usage Assignment Approach is employed, usage management will involve administering the usage assignment system for each year and keeping track of the results. If the Pay-To-Use Approach is employed, usage management will involve administering the advance co-owner reservation system, soliciting and managing rentals by non-owners, and tracking (and possibly collecting) co-owner usage fees and rental payments. Accounting management will involve collecting payments from co-owners (and possibly from rental tenants), paying bills,
