FPSL Fees

A number of Fractional Owners have contacted TRG Customer Services Team with questions about recent requests for payment they have received from Fractional Property Solutions Limited. We have been asked to clarify the situation.

These requests for payment do NOT come from TRG. FPSL is not part of TRG and has no ongoing involvement in any TRG business. Some time ago we announced that TRG and FPSL had reached an agreement regarding the termination of FPSL involvement in the Fractional structure. To be clear - FPSL has NOT been re-engaged by TRG. Under the terms of the separation agreement TRG is limited to repeating a specific statement when it comes to commenting on FPSL. The statement was publicised some time ago, but the section of the statement relevant to FPSL fee requests is repeated here.

TRG paid for the management of the fractional structures out of income prior to distribution to investors from inception, but ceased doing this at the end of 2018.

The continued administration of the LBG companies was provided via FPSL from January 2019 until the beginning of 2024, for which they received no payment by TRG. TRG’s letter to investors in early 2019 made it clear that investors should make their own arrangements with FPSL for the payment of those expenses.

It was originally assumed that the costs of administering these companies would be met from within rental returns paid by TRG, and indeed some costs were initially met in this way. What could not be foreseen was the pandemic and effect this had.

Investors/Owners are again invited to make their own arrangements directly with FPSL, and without the involvement of TRG, for any contribution they wish to make to FPSL’s costs for the period from 2019 to 2024 as these costs will not be deducted from the rental income now being paid by TRG.

FPSL have offered to make significant discounts and offer extended settlement terms to make this as manageable as possible.

TRG is not able to comment further on the actions of FPSL under the terms of the agreement.