M Private Residences Plans Series Of Home Renovations

By: Destination Club News
Date: April 2, 2008

Throughout the month of April, M Private Residences will undertake a trio of renovations to properties within their growing collection of vacation homes.

Beginning on April 5th and concluding April 23rd, the M Private Residence property in Kelowna will see some minor renovations that may include a hot tub installation to the 3,600 square foot, four bedroom, four and one half bath residence.

From April 13th to May 30th, a $500,000 renovation and redecoration to the club's lavish 2,359 square foot Whistler property will take place.

Last but not least, from April 28th to May 2nd, the club's Las Vegas condo will undergo a minor update as the unit will see the removal of some wall paper and some minor painting.

Destination clubs structure their model to intentionally underutilize properties so that members have exemplary access at their leisure. With these vacant nights, the club has the opportunity to make such renovations without inconveniencing members travels too greatly. Like second home ownership, properties within a destination club need regular updates and renovations to both help satisfy members, but also to protect their real estate investment. M Private Residences is Canada's largest destination club and counts a strong financial focus as one of their membership pillars.

While these properties will be unavailable while the renovations occur, these blackout periods are necessary to help assure that the real estate holdings of the club, which protect the refundable deposits owed to members, are in pristine condition. Luckily, the total number of nights used by the club for restorations are just a fraction of the total nights available to members throughout the portfolio.

If you are interested in the destination club concept, there are numerous due diligence questions you should ask a club pertaining to availability, including the amount of "down time" that the club budgets for these renovations. If you would like to receive a free copy of our suggested due diligence points, request our Destination Club Guide.