Call it the lake, the cottage, the cabin, the camp, the beach -- by any name, it is the archetypal Canadian summer vacation spot. Today in the Life section, we continue with part three of our four-part series on the cottage life in B.C. In this third instalment, we'll talk about the road to recreational ownership. With ordinary cottages commanding figures into the half-million dollar mark, many prospective buyers are seeing B.C.'s coastal recreational market mushroom into myriad ownership options. We'll also offer up some personal stories from readers on their take on the cottage life.

Tuesday we present a guide to being a perfect cottage guest. (Just don't forget the toilet paper.)

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Fractional ownership is looking more attractive to buyers looking for that cottage experience without having to pay the full cottage cost.

Until recently, most fractional ownership projects were condominiums, but now others that promise the classic cottage experience are edging into the market, such as the Currents at Otter Bay cottages on Pender Island and Edelweiss Chalets on Lake Cowichan.

"People who are in their late 30s and early 40s with a young family are our target market," says Edelweiss Chalets' realtor Dave Craig. "They either don't have time to maintain a cottage or they don't want to tie up a lot of money, but they still want that cottage experience for their kids."

You plunk down your money, sign the papers, and then what? Craig answers these questions on how Edelweiss Chalets' fractional ownership property works. Be advised, however, that management and operation of fractional properties are established independently and will vary from resort to resort. Buyers should look closely at the fine print on co-ownership agreements.

Q: How do owners divide up the time?

A: Pre-arranged schedules set access on a rotating basis. Each third-share gets four months of time, one month from each season. The summer months are divided into two-week stays so everybody gets some of the high time in July and August. Owners can make informal arrangements to trade with or rent from each other.

Q: Who does the vacuuming?

A: We have a maid service that comes in at the end of each week to do the clean-up.

Q: Who is responsible for maintenance?

A: A monthly fee goes toward third-party management that includes maid service, taxes, insurance, strata fees, landscape and management. A maintenance reserve fee takes care of items that need to be replaced because of wear and tear. Otherwise, owners are responsible for replacing items they break. Edelweiss Chalets takes care of management now, but it's conceivable that the owners might as a group take over this function eventually.

Q: How do owners furnish the chalets?

A: The chalets are sold furnished, complete with everything you would need right down to corkscrews and linens.

Q: Where do you keep your toothbrush?

A: There's no on-site storage for owners, so you take all your personal things home with you when you leave.

Q: Is there a shared boat?

A: No, but we have a concrete wharf and each boat gets a slip (docking location) for the duration of their stay. Rather than tow boats back to town, most people make private arrangements with a local marina to dock their boat while they're away.

Q: How many people buy into fractional ownership strictly as a revenue-generating investment property?

A: Some fractional ownership agreements allow rental pools, but Edelweiss doesn't.

Q: What are the drawbacks?

A: It comes down to personal preference. The biggest objection is for people who want to have the place for themselves. It's a concept that either works for you or doesn't.

Q: Why buy into a quartershare or fractional ownership property?

A: Affordability and convenience. To buy on the lake is going to cost half a million dollars; we can get you on the lake for $200,000. Maintenance can be expensive; this is a way of sharing that cost. And people are busy. They don't want to spend their holidays mowing a second lawn and painting. This provides a hassle-free holiday.