Private Residence Club Benefits

Many people shopping for a second home usually pause at some stage in the process to ask – Will I really want to spend all my leisure time at my second home? Will I still be able to travel once I buy a vacation property?

For Private Residence Club members, the opportunity to enjoy the privileges that come with second home ownership AND the ability to still go on vacations is possible through vacation exchange.

Ocean Two is proud to offer its Private Residence Club (PRC) owners a membership with Interval International (II), the quality vacation exchange company. Through II, Ocean Two PRC members can deposit the time they own at Ocean Two with the exchange company, and stay at another resort in one of 80+ nations worldwide.

II’s well managed and extensive resort exchange network makes the vacation trading process an efficient one for members. In addition to vacation exchange, II offers its members a number of other exclusive travel discounts and experiences not readily available through regular travel channels.

The resorts that are affiliated with II offer high quality, condo-style accommodations. II offers members an on-line directory of its affiliated resorts, so PRC owners can easily review the resorts that they would like to stay at. The directory can be viewed here.

A free II membership is included with the purchase of every PRC at Ocean Two. The beachfront luxury resort, located on Dover Beach in Barbados, offers PRC memberships starting from $13k USD/week. For more information on Ocean Two and its Private Residence Club, visit www.ownatoceantwo.com.

 

 

Barbados Private Residence Club FAQ’s

Ocean Two is a luxury resort located on Dover Beach that offers two opportunities to purchase Barbados real estate: whole ownership of condos with the opportunity to participate in a rental program, and membership in a Private Residence Club (PRC).

A PRC offers consumers the opportunity to pay only for the time they intend to use their luxury beachfront condo. Ownership of a suite at Ocean Two is shared with other like-minded individuals, and hotel management looks after the condo on behalf of the owners and manages the usage schedule.

The PRC concept is still fairly new in Barbados and indeed in the Caribbean. While the affordable entrance fee is attractive to consumers, the concept tends to generate a number of questions. Here are the two most commonly asked questions about PRC membership at Ocean Two:

How Much Does Membership Cost?

Membership fees are based in US dollars. The purchase price varies depending on the number of weeks that you purchase, and the time of year you want to use your weeks. The price* of one week of ownership in a one-bedroom condo ranges from $13k to 34k and $20k to $51k in a two-bedroom condo. Maintenance fees cost $700/year for a one-bedroom condo and $1225/year for a two-bedroom condo.

How Does the Usage Calendar Work?

When you purchase a week, you get to choose between a fixed or a floating week. Fixed weeks guarantee that you can use your unit every year during a specific week. For instance, if you purchase “week two”, it means you will always be able to stay in your condo the second week in January.

If you purchase a floating week, you will be able to stay in your condo during a specific season, but the week will change within that season every year. Floating weeks typically appeal to people who do not want to be committed to visiting at the same time every year. For instance, our floating weeks span the summer months. This means that one year who may use your suite the second week in June, and a few years later, you can stay in your condo during Crop Over Festival in July.

Our hotel management team professionally manages the usage calendar. Prior to making a purchase, we will review all of the calendar options with you, and help you select the week(s) and program (fixed or floating) that best suits your budget and lifestyle. Your usage rights are guaranteed in the sales contract, and these are yours to enjoy in perpetuity.

To learn more about how our Private Residence Club program works, visit www.ownatoceantwo.com or email sales@oceanhotels.bb.

* Prices and inventory subject to change without notice.

 

 

 

 

 

 

Five Reasons Why Joining The Private Residence Club Makes Sense

It only takes a few weeks of a polar vortex to make people from northern locales start dreaming of owning a vacation home in the Caribbean.  Those who pursue that dream find out that while the tropical destination temperatures warm them up, the high sticker prices of beach condos can leave them frozen in shock.

Fortunately, there is a way to have the proverbial cake and eat it too.  Private Residence Club (PRC) memberships provide an attractive alternative for second- homes-in-the-sun enthusiasts who are shopping with a limited budget.  A PRC model allows a group of like-minded individuals to share ownership of a property.  Each member only pays for the time they use the property, thereby reducing the upfront cost of purchase.

No two PRC’s are alike.  Most PRC’s vary in terms of the number of weeks that can be owned by an individual, pricing and membership benefits.  At Ocean Two, a beachfront resort in Barbados, memberships are sold in one-week intervals, so owners only pay for the time they will actually use.

Here are five other reasons why a Barbados Private Residence Club membership is an appealing opportunity for those searching for a Barbados beach condo:

1. Shared maintenance costs. In addition to sharing the purchase price of the condo with other like-minded individuals, annual condo maintenance fees are also shared.
2. Vacation exchange benefits. Ocean Two is affiliated with Interval International, the Quality Vacation Exchange Network.  Membership includes the opportunity to exchange some or all of the weeks owned at Ocean Two to stay at other high quality resorts around the world.
3. Professional Management. Ocean two is a professionally managed resort.  PRC members can arrive in Barbados knowing that their condo will be fully prepared for occupancy.  At the end of their visit, they can depart, leaving the condo to be cleaned and maintained until their next visit.
4. Resort Amenities. While the furnished and fully equipped condos at Ocean Two offer a residential experience, owners have access to all resort amenities, including two swimming pools, a bar, beach, water sports services and more.
5. One week of ownership starts from $13,000 USD.  Developer financing is available, subject to certain conditions and terms.

For more information on our Barbados Private Residence Club program, visit www.ownatoceantwo.com.