FAQS

1. 1. What do I actually own when purchasing a share of either 'La Coeur de Terre' or 'L'Ange de Mer' ?

   You become a member with a one-thirteenth interest in an LLC which owns the property and its furnishings. As a member, you are entitled to full use and enjoyment of the property on the prescribed schedule each year.
    

   2. How much time do I own each year?

1. As an LLC partner, you are entitled to four weeks per-year.
    

   3. Can I buy more than one fractional share?

2. Yes. The same owner can purchase as many shares as they desire. The shares can be purchased in back to back weeks giving the owner a two week interval four times a year or you can break up the time to give you more options for vacation.
    

3. 4. Who will manage and maintain the property?

   VIP Fractionals' properties are professionally managed and operated by Shibumi, LLC. Paid at the beginning of each year, the annual management fee is substantially lower than basic maintenance costs of a comparable luxury oceanfront property in South Carolina owned by an individual.

   The annual operating fee is determined by each owners pro-rata portion of funds, which pays for fiscal maintenance, property management, legal and accounting services, household and spa maintenance, cleaning, utilities, fuel, supplies, landscaping, window washing, refuse collection, pest control, property taxes, insurance, transportation, a reserve fund for the replacement and/or refurbishment of the properties, and other fixed and/or variable operational costs.

   You always arrive to a meticulously clean, perfectly maintained home and can enjoy your vacation knowing your investment is well taken care of.
    

   5. Could I swap a week with another LLC partner so that we can come to 'La Coeur de Terre' or 'L'Ange de Mer' at a different time?

   Yes, members may swap weeks with each other. Arrangements can be made through Shibumi Management.
    

   6. Will 'La Coeur de Terre' and/or 'L'Ange de Mer' be used as rentals?

   Our concept of shared ownership in a vacation investment property is based on the premise that the property will be treated as a second home by its owners. Therefore, renting weeks is not considered in keeping with this core idea. We believe this is the best way to keep each home in pristine condition for years to come.
    

    

1. 7. Who can use the home?

   Owners can allow friends and family to use the home but do remain responsible for any damages.

2. 8. What are the annual costs?

   This is perhaps one of the most appealing things about fractional ownership. The costs of owning luxury Beach front Real Estate is divided by 13 making this a much more attractive option. You only pay for what you use! Each year at the annual meeting, the management company presents the annual operating assessment, currently $5470.00 est. assessed at 1367.50 per-quarter per-share. This includes taxes, utilities, management, insurance premiums, lawn maintenance, weekly cleaning, and a contribution to a capital expense fund (6,000. per annum). Partners may also decide on other annual assessment(s) for capital projects when deemed necessary.
    

3. 9. What about smoking and pets?

   Smoking is not allowed within any area of the house. Both La Coeur de Terre and L'Ange de Mer are pet friendly subject to the following provisions: only one pet is allowed per member visit, the pet must be housebroken and kept off all beds and furniture, and any damage or additional cleaning will be that individual owner's responsibility. If these rules are not followed, management reserves the right to prohibit that pet's return.