Owners’ Fixed Summer Week always remains fixed to occur at the same time each year, forever, calculated in advance of each year based on the calendar, whereby our ten Fixed Summer Weeks are "the ten (10) consecutive week period ending on the Friday immediately preceding Labour Day each calendar year".
By purchasing an Interval, you are purchasing a specific Cottage with a specific Fixed Summer Week; that includes four more Floating Weeks each year.
When owners purchase an ‘interval’ at Inaski, they are purchasing a 1/10th investment in a specific Cottage. Their 1/10th investment provides them access to their Cottage for five weeks each calendar year, one in each of our ten-week Inaski seasons [Spring, Summer, Fall, Winter and Additional]. Floating weeks, each year, are selected through a fair and equitable selection process based on a Rotational Selection Chart. Fair and equitable in that if your interval share had 10th pick for one particular season in one particular year, you would receive 1st pick for that season in the following year; and so on.
If you would like to arrange for a tour of the property and a showing of one of our cottages; please contact us. We try to arrange tours on Friday afternoons (1pm-3pm) during our turnaround periods between owners' use; but special arrangements can be made with some notice.
Under our Property's current COVID Plan, interior showings of any cottage will only be possible if the cottage is known to be vacant in that week with the assistance of our Preferred Realtor's supervsion (Friday after 5pm through Wednesday evening). There may be permitted exceptions; this is best determined by contacting our Preferred Realtors and discussing your interest in our property.
These Non Smoking Waterfront Cottages (approximately 1400sf) have an occupancy of 8 (in 1 King, 1 Queen, 3 Single Bunks and 1 Double bed) in 2 bedrooms and an 2nd floor King loft; with 3 full bathroom ensuites. Pet Free and Pet Friendly designated cottages are available.
Mike and Stephanie Lange of Affinity Group Realty Limited Brokerage, Lindsay, Ontario are the Preferred Realty Partners assisting with the marketing, promotion and showing of listed resale intervals at Inaski.
Intervals listed on this webpage are those listed under this Preferred Realty Partnership and may also be found on Realtor.ca
Intervals may be found listed on other websites or publications. Owners wishing to list their intervals For Sale, may do so through any agent of their choice. Negotiation of price and terms of sale are between the seller and buyer, subject to our By-laws with the sale overseen by the Association’s legal counsel.
Over the last few months, interest and sales in our Intervals has been brisk.
Our Availability Listing (below) is updated as Intervals are sold and when new Intervals become available through our Preferred Realtors. With all Preferred Listings now sold off as of February 20, 2021, instead of removing our last listing, it is being left (marked as SOLD) as a reference to reflect how our listings will be shown when new Intervals become available. It will also provide a sense of current pricing trends that our Intervals are realizing.
Intervals may also be found listed on other websites or publications as our Interval Owners are not obligated to sell through our Preferred Realtor Relationship.
Preferred Realty Listing: Fixed Summer Week 4, plus 4 Additional Floating Weeks to be selected annually.
List Price: $69,000 (SOLD as of February 10, 2021)
Fixed Summer Week in 2021: July 16 - 23, 2021
Assigned Weeks in 2021: Jan15th; Apr2nd; May21st; Nov 5th
Use of your cottage is defined by our Owners' Agreement and associated By-Laws (much like a Condominium Agreement/By-Laws). During each of your assigned annual five weeks of use; you'll have access to enjoy your cottage. You can choose to trade weeks with other owners, rent your weeks to guests, or exchange your weeks through RCI; recognized as the world's largest exchange company with 3,900 resorts in more than 100 countries. Ownership of each cottage comprises ten equal shares. Each share purchased entitles you to five weeks at the cottage every year - one week in every season.
Owner weeks start and stop on Fridays at Inaski. Cottages are vacated by noon Friday, reset and readied for the next owner's arrival after 4pm that afternoon.
Every 'Interval' or "Share" of Inaski has an assigned Cottage, a specific Interval number (used annually to determine your priority order for week selections for the following year (that adjusts annually through a rotation to provide every interval priority to select their weeks over time); a specifc "Fixed" Summer Week; along with four additional weeks of assigned use; one from each of the four additional seasons at Inaski. Inaski has established five seasons (Spring, Summer "Fixed", Fall, Winter and Additional) of use; with ten weeks in each of these blocks to assign to each of the "Intervals" of that cottage.
For the Calendar Year 2021:
Summer Season's Fixed Week 1 starts on June 25th with each subsequent assigned week following after it with Summer Fixed Week 10 ending on September 3rd.
Our Winter Season runs December 31st, 2020 - March 12th; our Spring Season, April 9th – June 25th; our Fall Season, September 3th — Nov 12th; and our Additional Season, March 12th-April 9th and November 19th—December 31st, 2021. All these seasons add up to 50 weeks each year, normally with two additional weeks (Spring Maintenance, April 23rd- April 30th and Fall Maintenance, November 12th-19th) reserved for seasonal maintenance; maintenance that is done on your behalf; so you never have to worry about cleaning the carpets, repainting the walls, staining the decks, cleaning the windows or gutters, etc...
These seasons and the specific weeks which makeup these seasons are identified annually in advance by the Association (based on Association documents). The Association is a not-for-profit company whose Board of Directors are owners, elected by the voting members (owners) of the Association; the interval owners. An Annual General Meeting is held each April.
The selling of an Interval/Share of an Inaski Cottage is a transaction between the seller/owner. A seller/owner and/or the buyer may choose to have their own legal counsel to assist them in the process; but the Association requires the explicit oversight (exchange of documents and monies) be made through the Association’s lawyer.
When a seller/owner and a buyer have entered into a verbal agreement with each other and have settled on a price and the terms for an Interval/Share sale; the seller/owner would notify the Association (Property Manager and/or President) AND contact the Association’s Legal Counsel to initiate the legal process. The Interval price will be HST exempt; associated legal and administrative transfer fees will require HST to be included.
The Association’s Legal Counsel is:
Ms. Linda Seeley, Legal Assistant to Mr. Peter Murphy
SHIBLEY RIGHTON LLP
250 University Avenue, Suite 700
Toronto, Ontario M5H 3E5
Telephone: 416.214.5237 / 877.214.5200 x237
A legal procedure that aims to make an owner's resale transaction as ‘turnkey’ as possible is provided to both the seller and the buyer. Legal fees involved are traditionally shared 50/50 between the buyer and seller (unless otherwise negotiated); with Mr. Murphy’s office acting to ensure that the interests of both the seller and the buyer and the Association are properly represented.
Beyond the Association’s control, and legally required and overseen by the Association’s Lawyer, the buyer is required to remit to the Government of Ontario, a Land Transfer Tax for the Beneficial Interest (Reference: http://www.fin.gov.on.ca/en/bulletins/ltt/1_2009.html, April 2014).
The current formula for the Land Transfer Tax (LTT) is:
Purchase Price up to $55,000.00 = Purchase Price X 0.005
Purchase Price exceeding $55,000.00 up to $250,000.00 = (Purchase Price X 0.01) - $275.00
All payments will be managed by and through the Association’s Lawyer.
Should a sale occur mid year, the proportional amount of Annual Fees will be calculated and assumed by the Buyer. (ie. If 2 weeks of use remain in the year, 2/5th of the Interval fees will be assumed by the Buyer) unless otherwise negotiated.
This legal process will require time to allow for the flow of paperwork to travel its course and does not require either the Seller/owner and/or buyer to attend any legal offices or be present at the same time. This process has been developed to be as accommodating as possible.
The Association’s Legal Counsel will provide the buyer with current Association documents (Owners’ Agreement and its related By-Laws). It is the responsibility of the buyer to ensure that they understand the terms of Interval/Share Ownership; its responsibilities and its benefits.