Private Residence Club Services (Fractional Ownership)
See also:
Private Residence Club Services - Whole Ownership
DCM's management team has extensive experience managing fractional equity and non-equity Private Residence Clubs as well as knowledge working in the private membership club industry. We understand the uniqueness of the reservation policies and procedures for each client and the importance of exceeding Owners' expectations to help ensure retention and sales. Some of the management services we provide include:
- Manage assets including capital improvements, reserves planning, preventative maintenance, etc.;
- Oversee analysis for capital reserve study and provide recommendations;
- Develop all budgets (including pre-opening, startup, operating supplies and equipment and annual operating budgets);
- Develop billing and collection policy and implement invoices, notices, delinquent notices, etc.;
- Prepare and distribute monthly financial reports in accordance with GAAP and explain any variances;
- Implement site specific standard operating procedures for each department and conduct a yearly audit;
- Prepare staffing plan, job descriptions and compensation analysis;
- Prepare and update site specific training manuals and orientation programs;
- Secure international workforce, if needed, and facilitate immigration application process;
- Complete and file documentation for all required business licenses and registrations;
- Identify, select, obtain and maintain required insurance coverage and policies for the project;
- Obtain use access agreements with vendors to offer additional amenities such as golf, excursions, boat services, etc.;
- Develop and implement a rental program; and
- Assist with design of a website by offering recommendations.