Residence Club

What is a residence club?

Residence clubs are based on a group of members who use a property as a vacation home(s), and pay a deposit and yearly fee for that use. 

A residence club brings a group of like minded people together to share a property. When the property is shared it reduces the costs for everyone involved. Members pay a one time deposit, that is fully refundable if they want to resign from the club.  A yearly fee covers all other costs. Only one member stays in the house at a time, similar to your own personal residence. Members make reservations to use it and can use it for a set number of weeks a year. 

The residence club business model seems ideal for the acquisition, restoration, and continued preservation of historic properties over the long term.  Instead of a historic property being a non profit, they instead are a traditional for profit business that can use the property itself as a source of funding.  It is also an ideal arrangement because the historic property is able to remain a house, rather than becoming a museum that, a lot of times to me at least, can seem cold and artificial.