Frequently asked questions
About TFG
How was the concept of The Fractional Guides created?
The Fractional Guides concept is born from the desire to make a difference. After years of travel and living in many countries all over the world, we wanted to help people to realise their dream of enjoying the sun in their own slice of paradise 😉 It’s now our mission to guide you towards your dream holiday home, every step of the way.
WHO IS BEHIND THE FRACTIONAL GUIDES?
A couple of world-wise, well-travelled mothers. 😊
TFG is founded by Charlotte Binst, a seasoned, successful CFO and savvy investor who worked in big multinationals for more than two decades in Europe and the USA. Motherhood was the springboard for Charlotte to transition towards sustainable entrepreneurship. She wanted to invest her time and expertise in a more impactful, more meaningful, and more fun project! Charlotte has always been passionate about travel, holidays, and sustainability, the core elements of fractional ownership. During her career she has very often been guiding teams in large share acquisition projects, and is now delighted to do the same in a more bespoke way with unique clients whose joy she can share. The TFG Project Manager, Hadewijch, has had a rich and varied professional path, with years of experience in hospitality, project guidance and customer relationship management. She is a mother of two boys and moved to Portugal some years ago. Her dream was to capitalize on her experience and capabilities, to work in the sun and to have more time with her partner and two boys. Her expertise and care for customers ensure every share acquisition process flows smoothly and flawlessly. WHAT IS YOUR EXPERTISE?
Together we have decades of combined experience in real estate, travel and hospitality as well as corporate (re)structurings, project and contract management, strategic and financial advisory. We partner with premium experts and are supported by a team of renowned lawyers in various jurisdictions, all specialized in Fractional Ownership who are delighted to put their legal expertise to good use and contribute to keeping this planet a greener place.
What’s your value-add?
Our job is to ensure that the interests and investment of all parties involved are well protected, that each property we guide is properly structured and sustainable and that each single share purchase process goes smoothly and with the least possible hassle for you.
In a nutshell, our job is to get you to that paradise soon, sound and safe ;) What are your fees?
You are in fact purchasing shares in a UK company which in turn owns your dream property. In doing so, you will want reassurance from specialist corporate and property professionals that what you buy is exactly what you believe it is, and that everything is dealt with correctly. If you engage such individual experts yourself, you’re looking at a very costly and time-consuming process, with advisors who are themselves unfamiliar with the property, the seller and the structure of the fractional ownership.
We at TFG always familiarize ourselves with the property and seller first, and then perform or order extensive reviews and audits for every property, at our expense initially. We then divide the cost over the number of shares so that everyone buying one or more shares contributes proportionally to the costs involved. As such our fees always remain a fraction of the costs you would pay if you were to go yourself to individual experts. Our exact fees depend on the property and the work involved in the due diligence phase. Half of our fees are payable at the start of the transaction, the other part when we close the work and/or transaction. What is included in your fees?
Typically for any property we will have specialists' reviews done on the property itself, its purchase, its construction/ refurbishment, its ownership and energy status. We also review the corporate structure of the fractional ownership and the good standing of the seller, as well as all the share purchase documents. The outcome and opinions on these reviews and all related documentation are made available to you, with our conclusions, once we start working together.
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About Fractional Ownership
HOW DIFFERENT IS IT FROM TIME SHARING?
Very different indeed. With time sharing you basically have the right to stay somewhere, with fractional ownership you are an actual owner of a certain fraction of the property.
WILL I ALWAYS END UP WITH THE SAME PERIODS OF STAY EACH YEAR?
No, or not likely. Whilst each developer or seller will typically handle a different method, typically each year all owners will take it in turn to pick their entitled blocks of holiday stays whereby a rotational system will ensure that this happens fairly and evenly, so that everyone will enjoy some of the good weeks.
WHAT IF I CAN’T GO IN THE TIME ALLOCATED TO ME?
Many properties will allow owners to swap weeks once these are allocated (you are after all the owners and it’s your property…) and often it is also permitted to rent out your unused time slots, subject potentially to some restrictions. If you really cannot go we’re happy always to go and keep an eye on it for you 😊
WHAT’S INCLUDED IN MY STAY?
Again this depends on case by case, but often properties are managed as part of your contract. There will be an annual cost for this which is divided between all co-owners. As such you normally don’t have to get involved in upkeep or maintenance practicalities.
WILL THERE BE WORKS DURING MY STAYS?
Properties require upkeep but every property manager will always attempt to ensure a quiet and peaceful usage, and keep works and maintenance to specific allocated weeks.
HOW MUCH CONTACT DO I HAVE WITH OTHER OWNERS?
As little or as much as you and they want. You will in principle never stay at the property at the same time, but you may want to know who you co-own with. Within some fractional ownership structures co-owners are regularly in touch to exchange experiences or discuss aspects of the property and ownership.
HOW IS THE PROPERTY INSURED?
Just like any other property. This will be explained to you in the information gathering phase.
HOW CAN I EXIT CO-OWNERSHIP?
By selling your shares in accordance with the specific rules governing your specific property and ownership. This varies case per case but will often entail a pre-emptive right of purchase for the existing owners.
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If you have further questions, don't hesitate to contact us.
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