Rental Pool FAQs

1. What is the Rental Pool?

The Rental Pool is a system designed to facilitate the rental of unused owner inventory to transient hotel guests in return for a proportional share of the Total Rental Pool Gross Profit, as defined in the Rental Pool Agreement.

2. Am I eligible to participate in the Rental Pool?

To be eligible, you must own a Floating Unit (Fixed Unit Type), 4+ Fixed Weeks, or 7,000+ Crane/Encore Points or a combination thereof. Note: Fixed Weeks purchased from unauthorised resellers on the secondary resale market are not eligible to participate in the Rental Pool.

For more information on how you can become eligible to join Rental Pool, please get in touch with property@thecrane.com.

3. Is the Leaseback option still available?

No. The previous Leaseback agreement permanently expired on December 31st, 2022.

4. Do I have to pay Annual Fees on my deposited ownership?

No. Annual Fees are deferred, to be charged against your Reserve Account after it is credited with your proportional share of the Rental Pool's Total Gross Profit.

5. What is the Reserve Account?

The Reserve Account is a separate account set up in your name, which must be funded with the equivalent of 50% of the deposited ownership's Annual Fees. The Reserve Account is used to support the operational expenses for the deposited ownership, and it is fully refundable when the owner exits the Rental Pool.

Note: If an owner's Rental Pool deposit is more than 26 Weeks or equivalent, the funding requirement is reduced to 25% of the applicable Annual Fees.

6. Do I have to pre-fund my Reserve Account?

Yes. To fund your account please contact Owner Services via rentalpool@thecrane.com; (246) 423-6220; (866) 978-5942 (US/CAN Toll-Free) or 0 800 088 5034 (UK Toll-Free).

7. Why must the Reserve Account be pre-funded?

The pre-funding of the Reserve Account has been a requirement of both the Rental Pool and Leaseback since 2010. In certain circumstances, we agreed to allow the account to be funded from future Rental Pool earnings as a courtesy, in which case we would not have collected the Fees or Reserve from these members. However, with the impact of the pandemic over the past two years and the resulting losses borne solely by the Rental Manager, we can no longer offer the option of waiving the pre-funding of the Reserve Account.

8. Is the Reserve Account required to be funded each year?

Yes. Any change in Annual Fees will cause a higher or lower reserve funding requirement. If the proportional share of the Total Rental Pool Gross Profit that is paid into the account is more than the reserve requirement, the excess may be paid to the Rental Pool Member. If the amount in the Reserve Account is less than the requirement, the account will need to be topped up.

9. How is the Rental Pool shared?

The Rental Pool is shared between all deposited owner inventory and unsold developer inventory. Unlike previous Agreements, there is no fee paid to the Rental Manager.

A proportional share of the Rental Pool’s Total Gross Profit (Total Gross Profit = Total Rental Pool Revenue - Total Sales & Marketing Costs) will be allocated to each owner’s Reserve Account based on the Crane Point Assignment of their deposited inventory, by May 31st, annually. The owner’s Reserve Account is then debited with the appropriate deferred Annual Fee.

Any balance in the Rental Pool Member's Reserve Account shall be available to the Rental Pool Member after the completion of the Rental Pool accounting for the previous year and all obligations under the Rental Pool Agreement and/or the Member Documents have been met.

10. Will Rental Pool Members be provided with financial statements?

Each Rental Pool Member will be provided with a statement setting out the calculation of the Rental Pool Member’s proportion of Total Rental Pool Gross Profit, an updated Rental Pool Member’s Reserve Account statement and a statement from an independent auditor that, in its opinion, the Rental Pool Statement was calculated correctly.

12. Does it matter if my specific Fixed Week is rented or not?

No, because all deposited ownership is pooled, there is no direct effect on whether your residence and week(s) are rented out or not.

13. Is there a fee to join the Rental Pool?

No. Eligible owners may join free of charge, subject to the funding of their Reserve Accounts.

14. Can I temporarily withdraw my deposited ownership during the agreement term?

Yes, subject to the Club Rules, you can remove a portion of your deposited ownership for personal or familial usage in the form of Crane Points subject to the Crane Point Assignment upon payment of a US$50 Administrative Fee and the applicable Annual Fee.

15. If I remove weeks from the Pool for usage and change my mind, can I put them back in again?

No. Once you remove weeks from the Pool in any given year, your account is billed for the applicable Annual Fees. If you don't pay the Fees that were billed, you will be subject to late charges and eventually will be subject to default.