Private OWNERS SYNDICATE

About the Club

SkyLake Club was founded in 1982 by a group of colleagues in the airline industry. Some of the founders are still members, but most of the shares have changed hands at least once, and the current membership has a variety of ages, home residence areas and occupations. It is called the SkyLake Club because the surface of Lake Tahoe is actually over a mile above sea level.  

To make sure members can enjoy the benefits to the full, the Club is set up so that members have no obligation to do any work on the property itself. The house is on a private development where the on-the-spot management takes care of all external maintenance of the house and grounds. 

Choosing your holiday time.

Skylake Club uses its own unique method to sort out when members can use the property. Rather than  arbitrary periods allocated many years in advance like Timeshare and Fractional Ownership commercial companies, our system is based on members choosing what they want to do each year. 

With only 13 families as members, each can use the house for up to 4 weeks a year, in blocks of up to 14 days at a time.

Every 6 months the club manager asks the members in turn to choose their desired time. The member who has first choice in the summer has last choice in the winter and vice versa. Every year these priorities are changed so you rapidly get a very good choice in both seasons.  

Because most families do not use all the time available to them (many use only two of their available 4 weeks) there is usually enough flexibility to get exactly what you want. 

Your annual costs

Each family pays 1/13 of the group's running costs budget, which is agreed at a members' meeting. This covers everything except cleaning costs, which are billed separately as they vary with size of group and length of stay, or may not apply if you have elected to clean the house and change bed linen etc yourself at the end of your stay. The monthly dues for 2018 are £100 stg. (approx. $130 US). .

Any costs incurred by a member for internal repairs or replacements whilst staying in the house are refunded by the Club.

Equivalent rental cost. The £1200 annual membership cost with 4 weeks use available is roughly the same as the rental of a similar house in the same location for 1 week (out of peak season).

Personal possessions   

As an owner, you can leave your own personal possessions such as skis, sports equipment and clothing in the lockable storage provided, so you don't have to transport it around for every holiday.    

Legal and other aspects.

The members are all equal shareholders in Skylake Club Ltd., a UK company.  The company holds the title to the property. The full shareholders agreement will be provided prior to any financial commitment. 

Buying or selling your share in the group is an ordinary share transfer done by the company accountants. You may incur some personal capital gains tax on a sale if the property has gone up in value whiole you are a shareholder.

Renting out your share. 

Private rental of your share is not allowed, but you may lend it to friends and family members without your being there. 

Dates for friends can be chosen once all the members who do want to use the house personally have selected their time.  This ensures that you have the best possible flexibility to use the house as if it were entirely your own.   

 

© 2015, SkyLake Club Limited.  All Rights Reserved.