1. What is a Private Residence Club (PRC)?
A PRC is a fractional, vacation real estate development owned by members and operated for their enjoyment. Each member owns a fraction, ranging from four to 12 owners per unit, of a club residence as well as an interest in the club facilities and common areas.

Most PRC communities feature spacious, thoroughly equipped and fully furnished apartments, cottages, townhouses, condominiums or detached homes accompanied by a private clubhouse with resort amenities and hotel services.

PRCs are commonly located in popular vacation destinations such as mountain, beach, golf or urban resorts. Locations typically include direct access to a lifestyle attraction such as ski resorts, oceans, golf courses or major cities.

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2. What are the advantages of PRC ownership?
PRCs afford members the ability to:

1. Visit their vacation home with frequent and flexible use
2. Enjoy services and amenities not usually available to second home owners
3. Enjoy premium quality design, furnishings, equipment and location
4. Avoid maintenance hassles and concerns typically associated with second homes
5. Minimize financial investments through fractional ownership
6. Send family, friends and clients to use their club
7. Reserve more than one residence per reservation to accommodate large groups
8. Exchange reservations for accommodations at other PRCs around the world

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3. Is PRC membership the same as timeshare?
No. Timeshare is typically the ownership (or right to use) of a specific week and lodging is limited to a specific unit. Timeshare is also much less expensive due to limited usage, smaller units, fewer amenities and lower quality furniture, fixtures and equipment (FF&E). Service levels are also minimal compared to PRC services.

PRCs are owned and enjoyed much like a private, equity, golf country club; only members reserve lodging rather than tee times. Members receive a real estate deed and have access to all residences, with the right to use anytime, subject to reservation policies.

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4. How is ownership of a PRC membership evidenced?
Title is usually evidenced by a real estate deed, which is recorded and guaranteed by a title insurance policy.

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5. Can a PRC membership be resold?
Yes. Like any other form of real estate, a member's undivided deeded interest can be sold or transferred by the member, or sold by a licensed real estate agent through the Multiple Listing Service, subject to club policies.

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6. Can more than one family or individual own a single PRC membership?
Yes. Individuals can form partnerships to control a PRC membership, subject to club policies. It is up to the joint owners to allocate reservations for that membership in compliance with the reservation policies.

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7. Are PRCs open to the public?
Most PRCs are closed to the public and operated exclusively for members. However, some developers implement rental programs, allowing members to deposit reservations into publicly accessed rental pools. In other scenarios, PRCs are operated in conjunction with a hotel, resulting in shared amenities and services.

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8. How often can members stay at their PRC?
Usage is dependent on the club's ownership ratio. For example, an ownership ratio of six owners per residence affords a minimum of 60 days use per year. If some members use less than 60 days, other members can use more. Usage is always subject to reservation policies. (Please review the ResidenceClub.com PRC Profiles for club-specific details regarding usage.)

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9. Do PRC members always stay in the same residence?
Most often, PRC members have equal access to all residences in their membership type (two- or three-bedroom etc.) to provide the greatest access and flexibility. However, some PRCs sell fractional ownership in a specific residence and usage rights are limited to that residence, as set forth in the club reservation policies.

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10. Can PRC members reserve more than one residence during the same time period?
Because most PRCs do not restrict members to a particular residence, members can usually reserve more than one residence at the same time, subject to availability and reservation policies.

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11. Can PRC members visit other PRCs?
Yes. Certain PRCs affiliate with various exchange companies to provide their members with the ability to voluntarily exchange lodging privileges with members of other participating PRCs. Affiliation with these exchange companies is dependent on agreements and/or contracts signed by the PRC developer.

Members of branded PRCs (Ritz-Carlton Club, Four Seasons Residence Clubs, etc) are usually limited to exchanging within the property portfolio operated under their brand name.

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12. Do PRC members pay annual fees?
Yes. Annual member fees pay for the management and operation of club residences and common areas. Annual fees typically include staff salaries, supplies, maintenance, transportation, window washing, trash removal, legal/accounting, insurance, utilities, property taxes, and replacement/refurbishing of facilities. In some cases, annual fees also include housekeeping and gratuity charges.

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13. What do members pay when visiting their PRC?
For PRCs that include housekeeping and gratuity fees in their annual dues, members only pay for incidental costs (room service, groceries, long distance calls etc.) during their visits. Other clubs charge housekeeping and gratuity fees on a per-use basis, which are charged to members in addition to incidental charges during each visit.

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14. Do PRC members have guest privileges?
PRC members may bring family, friends or clients on their vacation, or may invite unaccompanied guests to use their reservation, subject to guest policies.

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15. What amenities are typically included in a PRC development?

Customary PRC Amenities	Variable PRC Amenities
Reception lobby Members' lounge/library Outdoor swimming pool Jetted spas Fitness center Men/women's locker rooms Sauna and steam room Game room Barbeque areas	Golf course w/pro shop In-residence golf cart Ski locker room Boating dock Tennis courts Spa and salon Café and bar Restaurant Convenience Store

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16. What services are typically offered to PRC members?

Customary PRC Amenities	Variable PRC Amenities
Concierge Valet Bellman Housekeeping Pre-arrival grocery shopping Long-term storage Transportation	Golf caddie Golf lessons Ski attendant Ski tuning Tennis lessons Spa & massage treatments Room service

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