East Silent Lake Resort in Dent held a ribbon-cutting ceremony on June 6 for its newly constructed vacation home.
“We’re happy to introduce the public and our many loyal guests to the newest lake home at East Silent Lake Resort,” said Nick Leonard, owner and vice-president of the resort.
The new 2,500-square-foot home marks the launch of a new era in resort management and lake home ownership in this region. It also offers fractional share ownership where owners share percentages of an asset.
East Silent Lake Resort will offer the most common form of fractional ownership – quarter-share – where owners share a quarter of the interest in the real estate, along with rights to 13 weeks of use.
According to Leonard, a fractional owner can purchase lake property more affordably. The property is also maintenance-free, with the resort handling needs such as lawn care, dock installation, furniture replacement, garbage pick-up, taxes and more. Rental revenue is a potential for buyers who don’t use the home for their full 13 weeks.
Representatives from the Detroit Lakes, Fergus Falls, and Perham Chambers of Commerce assisted in the ribbon-cutting.