Frequently Asked Questions
WHAT IS THE RESIDENCE CLUB AT TETON SPRINGS?
The Residence Club at Teton Springs is a member-owned enclave of luxury, custom-built log cabin homes, ideally located within the prestigious Teton Springs community, an all-seasons resort. In addition to shared-ownership of a spacious three-bedroom residence, Club owners have Headwaters Golf Club (“Headwaters” or “Golf Club”) membership privileges while in residence. Club owners have playing privileges at the Golf Club’s highly rated 18-hole course and enjoy use of the Teton Springs restaurant, lounges, swimming pool, spa, tennis facility, cross-country ski track, 50 acres of trout fishing, as well as a Club manager, concierge service, housekeeping service, and long-term clothing/equipment storage.
WHAT ARE THE ADVANTAGES OF CLUB OWNERSHIP?
The Residence Club at Teton Springs has been designed to: provide more convenience, services and amenities than are provided by an equally appointed vacation home; provide owners with generous and flexible vacation use; remove the worries typically associated with vacation-home ownership; and significantly reduce the financial burden through shared ownership of the private residences.
IS THE CLUB A TYPICAL TIMESHARE DEVELOPMENT?
No. Timeshare is typically the right to use a specific week and is limited to lodging in a specific unit. The Club is owned and enjoyed much like a private golf country club. Club owners have access to all residences, with the right to use anytime, subject to reservation privileges. With only six owners per residence, Club owners have abundant and flexible use of their Club and the Golf Club facilities.
ARE THERE SIMILAR RESIDENCE CLUBS AT OTHER RESORTS?
Yes. Affluent buyers at premier resorts such as Aspen, Vail, Telluride, and Steamboat Springs, Colorado; Jackson Hole, Wyoming; Napa Valley, California; Deer Valley, Utah; have enthusiastically embraced this ownership concept. Each of these residence clubs is owned and operated much like The Residence Club at Teton Springs. New residence clubs are in development in a variety of other prestigious beach, golf, mountain and urban destinations.
HOW IS OWNERSHIP OF THE CLUB EVIDENCED?
Title is evidenced by a real estate deed, which is recorded and is guaranteed by a title insurance policy. Each Club owner is conveyed a 1/6th debt-free, undivided deeded interest in one of the Club’s fully furnished residences.
HOW MANY CLUB OWNERSHIPS WILL BE SOLD?
The Residence Club at Teton Springs strictly limits the number of Club ownerships to no more than six owners per residence.
MAY MY CLUB OWNERSHIP BE RESOLD?
Yes. Like any other form of real estate, a Club owner’s undivided deeded interest can be sold, willed or transferred by the owner, or sold by a licensed real estate agent through the multiple listing service, subject to the Club’s Declaration/Bylaws. Sale of a Club ownership automatically includes the sale of the associated Golf Club membership, which is subject to a transfer fee.
AS AN OWNER, HOW OFTEN MAY I STAY AT MY CLUB?
As often as you wish, subject only to the reservation privileges. Each ownership may reserve up to 21 days of summer planned vacations and up to 21 days of winter planned vacations. After all planned vacation time is reserved, owners may reserve additional lodging on a space available and short notice basis. There is no limit to the amount of use. If some owners vacation less than their available time, other owners may vacation more.
WHICH FAMILY MEMBERS HAVE CLUB OWNERSHIP PRIVILEGES?
Spouses have full Club ownership privileges as well as dependent children under age 24.
WILL OWNERS ALWAYS STAY IN THE SAME RESIDENCE?
No. Owners have equal access to all residences to provide the greatest access and flexibility. Owners may request a specific residence and this request will be granted, when possible, in accordance with the Reservation Privileges.
HOW DO OWNERS RESERVE VACATIONS?
The reservation policies allow Club owners to reserve vacations well in advance while also accommodating last-minute getaway decisions. Owners reserve their summer planned vacations in late winter and their winter planned vacations in late summer. After all planned vacation time is reserved, owners may reserve additional lodging with space available and short notice vacation reservations.
WHAT IF THE NUMBER OF OWNERS WISHING TO VACATION DURING CERTAIN TIME PERIODS EXCEEDS THE NUMBER OF AVAILABLE RESIDENCES?
The reservation policies have been designed to equitably allocate reservations when demand may exceed lodging supply. A Rotating Priority System ensures that all owners have equal access to lodging during high-demand periods over the years.
MAY OWNERS RESERVE MORE THAN ONE RESIDENCE AT THE SAME TIME?
Yes. Because owners are not restricted to a particular residential unit, they may reserve more than one residence at any given time, using all planned, space available and short-notice vacation privileges, during non-prime seasons if sufficient residences are available.
WHAT DO CLUB OWNERS PAY WHEN VISITING THEIR CLUB?
A standard housekeeping fee will be charged for each vacation. Owners and guests may request daily or mid weekly housekeeping services for an additional charge. Owners pay the same fees as regular members of the Headwaters Golf Club when using Golf Club amenities.
DO OWNERS PAY ANNUAL FEES?
Yes. Club owners pay annual fees for the professional management, operation and maintenance of all Club residences and facilities. These fees are significantly lower and are more comprehensive than those of a wholly owned vacation home. Included in these annual fees are funds for property taxes, insurance, utilities, Golf Club dues, administrative salaries, supplies, maintenance, window washing, trash removal, legal/accounting, reserves for the replacement and/or refurbishing of Club facilities.
AS AN OWNER, MAY I VISIT RESIDENCE CLUBS IN OTHER RESORTS?
Yes. Owners at the Residence Club at Teton Springs have the opportunity to voluntarily exchange residence privileges through the Elite Alliance, which features residence clubs located in other prestigious resorts.
For more information visit www.theEliteAlliance.com
WHO ESTABLISHES THE FEES AND CONTROLS THE AFFAIRS OF THE RESIDENCE CLUB AT TETON SPRINGS?
The Board of Directors of the Residence Club at Teton Springs.
DO OWNERS HAVE GUEST PRIVILEGES?
Yes. Guests staying in the same residence with an owner are not charged for use. Club owners also may invite unaccompanied guests to use their confirmed planned vacation reservations without a guest fee. Golf Club guest privileges and associated fees will be applied at the same level as those for regular members of the Golf Club, subject to the rules and regulations of the Golf Club.
WHAT IS THE QUALITY OF THE CONSTRUCTION, FURNITURE AND ACCESSORIES OF THE RESIDENCE CLUB AT TETON SPRINGS?
The Club construction is of the highest quality. Laurie Waterhouse Interiors of Jackson Hole, a highly respected professional interior design firm, has ensured that each residence is completed and elegantly furnished, including high quality entertainment equipment, appliances and fixtures. The accessory package includes kitchen utensils, cookware, and silverware.
