FAQ

As shared ownership is a relatively new concept with many specialized features and details, we’ve compiled the following list of frequently asked questions, FAQs, for your reference. We are happy to answer any further questions which may arise. Thank you for considering ownership within Resort Equities luxurious Odeon Penthouse.

Q: Does a 1/10th interest mean ownership as tenants-in-common, TIC?
A: Yes. There will be a total of ten owners, each with an undivided, 1/10th interest. Title is held by grant deed with all owners as “tenants in common” as this is the only legal way for unrelated owners to hold title. Each owner controls their 1/10th interest and can sell, deed or gift it.

Q: What items do the annual dues cover? Are property taxes included?
A: The dues cover parking, water, garbage, any HOA fees affiliated with the Odeon building, basic fire insurance, all utilities, Resort Equities management (bookings, residence maintenance, property inspection pre-arrival and post-departure). Yes, property taxes are included.

Q: Is parking included in the deed?
A: No. Reserved parking is available directly next door at the Ellis-O’Farrell garage. A specific, assigned spot is leased monthly.

Q: Is Odeon a full service building with a doorman, maid/housekeeping and laundry service?
A: No. Odeon is a secure building however there is no in-house service staff. Pre-arrival maid service is arranged to assure the residence is clean and in order and Odeon Penthouse undergoes a thorough cleaning after each owner usage. Daily maid service can be arranged for an additional fee as well as concierge services such pre-arrival grocery shopping.

Q: How many weeks can owners reserve each year?
A: At the beginning of each residence year owners select and reserve four ‘planned’ vacation weeks. There are 12 additional weeks, called ‘Space Available’, which owners can access for further bookings in Odeon Penthouse. Owners must complete occupancy of their planned, Space Available stay prior to booking another. A Space Available stay can range from one night to one week. Odeon Penthouse offers a usage program that is not only very flexible but gives owners the opportunity to access the residence with great frequency.

Q: What is the exchange process?
A: Currently Resort Equities has properties in Lake Tahoe, Hawaii, San Francisco and Tuscany, Italy. If you wish to exchange time to stay in another, participating property this can be coordinated through Resort Equities Owners Liaison and is contingent upon an owner in the residence-of-interest releasing a week(s). There is no fee for exchange. Resort Equities will continue to expand their portfolio of luxury residences to additional resort destinations in the coming years.

Q: Are there several units of different sizes available in San Francisco?
A: No. Odeon Penthouse is the only San Francisco residence offered by Resort Equities at this time. Resort Equities hopes to secure additional San Francisco properties in the future. Most residences within the Resort Equities portfolio are three bedrooms or more, able to accommodate a large family and/or groups traveling together.
 
Q: What makes this property unique as compared to other offerings in the City?
A: Simply stated, this is an amazing property at an amazing price. Odeon Penthouse is perfect for someone wishing to own an exclusive San Francisco pied-a-terre, not just a hotel room. Also, each owner has an individual, in-residence storage cabinet where they can leave personal belongings such as photos, linens, clothing, etc.