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Pine Meadows 139 Fractional Unit Policies and Bylaws



Revision October, 2020

Revision Date: August, 2017

Adopted by Unit 139: November, 2006



General Policies

To allow for the normal operation, cooperation, maintenance and protection of the Owners’ shared interests in the fractionally owned Unit 139, in Pine Meadows, located at 120 Vischer Drive in Mountain Village, Colorado. The Pine Meadows 139 Fractional Unit Owners Association (OWNERS) recognize these policies as binding.



The unit is managed by THAM, Inc. (THAM) in these documents refers to this entity. John Howe is President and owner of THAM.


Arrival and Departure Times


Stays for Owners are deeded for one or two weeks at a time from Saturday to Saturday. Five weeks per year are deeded to each tenth share. The availability of your residence cannot be assured prior to 4:00 PM.  For the convenience of incoming members, we respectfully request that you depart your residence prior to 10:00 AM. Please contact us in advance if an early arrival or late departure is required (requests cannot be guaranteed).


Contact Information

Each owner shall be responsible for providing accurate and current contact information to management including a valid e-mail address and phone number to be distributed to all other Owners.


Lost and Found

In the event you misplace a personal article or find a misplaced item from another member, please contact THAM.



Due to the frequency of allergic reactions, cats are not permitted in the Pine Meadows 139 residence. Owners in violation shall be subject to additional cleaning charges not to exceed $500.00. Dogs are permitted. Owners shall be responsible for any additional cleaning charges due to damage by dogs.

  1. Only owners are allowed to bring dogs, not their guests or renters. Owners will inform THAM, our management firm, that they will be bringing a dog, so that additional attention by the cleaning service to pet hair

  2. Dogs are not allowed on beds, some people are allergic to pet hair. (one of our guests suffered severe sneezing and we discovered dog hair on the bed spread) . If pet hair is found on bedding, owner will be assessed a $100 - $200 drycleaning fee.




Smoking is permitted on your residence deck only. Please dispose completely of all smoking materials. A minimum cleaning charge of $500.00 will be assessed to any Owners or their guests for violation of this policy.


Shoes, boots and footwear


Please remove your footwear before walking inside the property. It is a Telluride custom, there is in-floor heat, and the carpets are light-colored. The only cost-effective treatment for dirt-scuffed carpeting is a full steam clean. A cleaning charge will be assessed to any owner or their guests deemed to have damaged the carpet in this manner.



Owners are responsible for the cost of repairing any damage or excess wear caused to the property during their usage or the usage of their guests. Costs and expenses attributed to said damages shall be charged to the responsible Owner on the next quarterly statement.


Common Elements and Trash

The exterior features of the Pine Meadows buildings, the grounds, trash enclosure, driveway, and walkway to Aspen Ridge are maintained by the Pine Meadows Home Owners Association. Please contact the HOA with any questions or concerns about these elements. Please dispose all trash inside your unit or in the complex’s trash enclosure. In the summer and fall this is of particular concern due to the frequency and danger of bears in the Mountain Village. Owners must take trash to the trash locker.



Owner Storage

Pine Meadows 139 provides long-term storage for Owners. Individual lockers for each owner will be available in the laundry room of the residence. Additional, minimal storage may be available under the stairs and in cabinets in the dining room. Each owner is allowed one large and one small bin. Storage bins should be no larger than 2’x3’x1’ and 12”x18”x9” for storage under stairs and dining room cabinets respectively. Bins should close properly and have your name on it. Outdoor furniture and equipment may be stored in the garage if stored on proper hangers/devices and above 6 feet from the floor to allow for parking of cars. Except in areas listed above, no other personal items may be stored on the premises between Fractional Owner visits.



Fractional Ownership of the Pine Meadows townhome guarantees that members have use of their unit for a scheduled five weeks of each year. Only those scheduled five weeks can be guaranteed. THAM will facilitate any alternative arrangements, when possible, on a first come-first served basis. THAM does not coordinate rentals of the Unit, but must be notified in advance if the occupant is a rental guest. A maximum of two contact persons per tenth deeded share shall be authorized to coordinate any scheduling with THAM. Owners have the option of using their scheduled time period themselves (friends & family), arranging an internal exchange with other members, or listing their dates for short-term rental. Any usage by a Pine Meadows fractional unit owner or their guests, whether part of the official schedule or arranged by “Owner Exchange” or “Space Availability” or otherwise shall be considered usage by that owner with all responsibilities and fees applying to them, as opposed to any other actual deeded owner of that time in that unit.


Please notify THAM of your scheduling plans or requests at least 30 days before your scheduled arrival.


Internal Owner Exchange

Owners are permitted to exchange their usage periods with other owners and transfer their usage periods to other owners for any agreeable consideration. To prevent miscommunication of these exchanges, the owners shall submit the specifics of the trade to THAM and the calendar coordinator.


Owners who do not intend to use or externally rent their usage periods are encouraged to make the time available to other owners to use. This can be done by notifying other owners of availability, coming to an agreement on the transfer and notifying THAM and the calendar coordinator.


Absent an agreement with another owner, the owner retains their full rights to use or not use their usage period.



Short-Term Rental


Owners are permitted to arrange short-term rentals of their scheduled period. Short term rentals should be arranged by the owner with a rental company of their choice. THAM must be notified in advance of this alternative use. Renters are not allowed to bring pets.






HAM and/or designated third-party will maintain a Pine Meadows owners’ website to help owners communicate easily and directly with other owners. The owners are requested to respond promptly to each communication. The site will maintain email addresses, phone numbers, and mailing addresses. The owners’ information should be current at all times. The website is located at


Calendar and Scheduling

THAM and/or designed third-party (calendar coordinator) will maintain the official Pine Meadows owners’ calendar for the five weeks per year deeded to each tenth-share fractional owner. This calendar shall be reviewed and approved every five years by a majority of all owners of the fractional units. The calendar shall be kept current to assist owners coordinate scheduling, internal trades and exchanges, and space availability. An owners’ blog will be kept at the same location. The website is located at    A link can be found at .



A budget for the operation, maintenance and reserve funds of the fractionally owned units shall be prepared by management each year and approved by the owners at an annual meeting. Funding shall be adequate to maintain the property in a first-class condition year-round, with regular usage. The ten deeded owners of the unit shall each be responsible for one-tenth of that budget. Quarterly billing of these fees shall be collected by management for the funding of this budget. Management shall assess penalties for the late payment of these fees. The funds collected shall be held by THAM in the Pine Meadows 139 Capital Reserve account.


THAM shall pay all bills and make purchases as directed by the OAC from these accounts for such services as Housekeeping, Maintenance, Utilities, Transportation, HOA Dues, and Management Fees. Management shall at all times have these accounts and other records available for the review by the Owners.



Owners are responsible for paying their portion of the budget on the first day of each yearly Quarter (January 1, April 1, July 1, and October 1). THAM shall send quarterly invoices for these funds as a reminder, titled “Fractional Owner Quarterly Service

Fees”.   Payments shall be applied to the oldest invoice first. 

  • After an Invoice has aged to 60 days Management shall not provide any services to that Owner until their account is made current, and that Owners’ account shall be assessed an additional $100 per month “Late Payment Fee” added to that Invoice. (Services that Management provides include granting access to the Unit.)

  • After an Invoice has aged to 90 days Management shall list that Owner’s scheduled dates for rental and Owner shall be obligated to honor any reservations obtained before full payment is made to bring their account current. Revenue from the reservation (less Management Fees) shall be applied as payment to that Owner’s account. If rental revenue (less Management Fees) exceeds the amount required to bring the owner’s account current, the excess funds will be deposited into the Capital Reserve Account of the respective unit.

  • After an Invoice has aged beyond 90 days THAM shall contact the OAC President and initiate legal procedures to secure a Lien on that Owner’s deeded portion of the Fractionally Owned Unit.Any expenses incurred in the creation and filing of said Lien shall be assessed to the Owner, to include, Management fees, legal fees, filing costs and any other associated costs.


No owner with an Invoice, or portion thereof, aged beyond 60 days may collect Rents, Trade, use Space Availability, or otherwise take advantage of benefits and services associated with Ownership at Pine Meadows.


Capital Reserve Account


Pine Meadows 139 Association shall create a Capital Reserve Account that is maintained by THAM or the Owners for funding capital expenditures, improvements and upgrades within the fractionally owned unit. Deposits to this account shall occur quarterly per the annual budget.


Capital Reserve Expenditures

The OAC and THAM shall prepare and maintain a “Replacement Schedule”. This shall outline time frames and estimated costs for repairing and replacing any household elements. This “Replacement Schedule” shall be reviewed annually by the OAC. Owners can request a copy of the replacement schedule from the OAC. 


The Owners Action Committee (OAC) shall be responsible for directing expenditures from this account for any purpose. Surplus funds in the operating account may be moved to the reserve fund as directed by the OAC.


The approved “Replacement Schedule” will then serve as a guideline for the OAC in directing expenditures from the Capital Reserve Account. The priorities shall be to address emergency needs (HVAC, Appliances, Electrical, etc.) and to maintain the property in a good condition.


Owners Action Committee

A committee of at least two and not more than five owners, who are in good standing regarding “Fractional Owner Quarterly Service Fees”, from each unit shall be elected each year at the annual meeting from among the ten deeded shares of each fractionally owned Pine Meadows unit. The function of this committee shall be to advise management in situations requiring the decision of a property owner on behalf of all owners of that unit. The committee shall also determine which questions are answerable within the committee and which shall be referred to all owners. Decisions shall be made in accordance with the VOTING section.


One member of this committee shall be chosen by the committee to serve as President.  The President shall be empowered to sign documents or speak to issues requiring a spokesperson on behalf of all owners of the Fractionally Owned Unit. The President shall represent the Unit to the Pine Meadows HOA. The Owners Action Committee shall meet at least one time per year and additionally as necessary.


There shall be an annual meeting for all owners of each fractional unit. Meetings and voting procedures shall be conducted according to the guidelines set forth within the Pine Meadows 139 Homeowners Association Policies and Bylaws. No Policies and Bylaws shall be adopted without the simple majority vote of the Owners present at the annual or special meeting. Revisions and additions to the Policies and Bylaws shall be discussed and decided at the annual meeting unless a special meeting is called for by the OAC.



Each Owner shall have one vote for each fractional ownership owned by said owner.

All votes shall be determined by a simple majority of representatives present at any meeting.


Management Responsibilities

In as much as many of the advantages of the Owners are based upon the availability of the services of THAM the annual budget shall include funding for management services to be collected monthly. This funding shall serve as compensation for management services to include the following.


  • THAM shall provide budgeting and accounting services for the Pine Meadows fractional units.  Furthermore, THAM shall serve as a contact and representative for all financial matters for the fractionally owned units.


  • THAM shall be responsible for managing an on-call service for housekeeping, maintenance, and emergency response. Housekeeping shall be provided to Owners as above. A thorough spring cleaning to include window and carpet cleaning shall be provided. Maintenance and repairs shall be undertaken as needed.  An annual walkthrough to address all other maintenance and repairs shall be performed each spring. THAM staff shall be available 24 hours a day to respond to emergencies at the Pine Meadows 139.


All housekeeping services are performed between the hours of 9:00 AM and 5:00 PM.  Services requested outside of these hours may be billed as Custom Service.


Multiple Week Stay Service

There is a cleaning on the middle Saturday of a multiple week stay. This cleaning includes replacing bath and kitchen linens and amenities; the wiping of tubs, toilets, showers, and vanities; the making of all beds and replenishing all supplies. Also included is a wiping of all counters, appliances and sinks, placing dirty dishes in dishwasher.  Any services beyond the standard multiple-week stay cleaning will be at the owner’s sole expense.


Post Occupancy Service

This service is provided for all Owners upon departure. This includes a departure cleaning of the entire residence in preparation for the next owner’s arrival. The departure cleaning shall include but not limited to: changing linens, towels, wash cloths, bath mats. Dusting or wiping of all counter surfaces, cabinets doors, appliances, window sills, stair rails, decorations and plants. Cobwebs shall be removal from inside the unit, the entrance way exterior, and the back deck. All appliances, grilles, dishes, glassware, silverware, utensils, cookware, inside of toaster, refrigerator, oven and dishwasher shall be cleaned. All areas, mirrors, shower doors and fixtures in the bathrooms shall be cleaned. All standard supplies shall be restocked.


The spring deep cleaning shall include all services provided in the Post Occupancy Service plus the following: hardware treatment, rugs cleaned, cabinets treated, maintenance items not previous completed, outside deck, garage, porch and any other items not cleaned during normal cleaning cycles.

Vehicle Usage


Arriving Owners shall pick up the Unit’s vehicle at the Montrose Airport on Saturday at a time previously discussed and approved with THAM. Arriving Owners are responsible for the parking ticket left in the vehicle, and all special delivery and administrative fees (if any) for deliveries made outside normal business hours of Pollard Motors. Arriving Owners are not guaranteed to have the Unit’s vehicle available prior to 2:00 pm.(Why this late – flight schedules are rapidly changing. If check out is 10 am, shouldn’t this be noon??)

Departing Owners shall park the Unit’s vehicle in the Montrose Airport (MTJ) parking lot no later than 1:45 pm Saturday afternoon at the end of their designed reservation period (Saturday). Owners must notify THAM in advance of their departure date and time if different from the scheduled parking of the vehicle as described above.  (THAM shall make sure the vehicle is in the Montrose Airport parking lot a least one hour prior to owner’s designated arrival time???)


Returned vehicles shall be left with a full tank of gas, recently washed and vacuumed. A minimum $100 fee will be charged for vehicles not returned with a full gas tank, cleaned and in good condition.


The vehicle must be picked up and returned to the Montrose Airport, unless an alternative location (such as at the Unit, etc.) is agreed to by the arriving Owner. If the departing Owner fails to comply with the agreement (for any reason including emergencies), the departing Owner is responsible for all costs incurred by the arriving Owner attributable to the failure to comply, including shuttle costs, costs for transfer of vehicle, etc. with the costs to be included in the quarterly statement. Both parties should notify THAM if possible, concerning the arrangement.  


Owners arriving and departing on any day other than Saturday must notify THAM who will coordinate said pick up and deliver with Pollard Motors. Pollard Motors is not open or available on Sundays or after 1600 hours (4 pm) other days.  


THAM shall coordinate the use and maintenance of the vehicle for Pine Meadows Unit 139 per the management agreement. All costs for a vehicle shall be included in the budget of Pine Meadows Unit 139. The vehicle may be used only by the actual “named” owners (2 maximum) of the fractional units. The Owners shall understand that damage and maintenance to the co-owned vehicle may occur unexpectedly. Therefore, the Owners are not responsible for any costs or inconveniences caused by these uncontrollable incidences. This does not include owner’s negligence.


Drivers must provide proof of driver’s license and insurance and be at least 25 years old. Drivers are responsible for any damage to the vehicles. Vehicles may only be driven within a three hundred fifty (350) mile radii of Telluride. Vehicles must be returned with a full gas tank. There will be a $1000 penalty for any unauthorized usage of this vehicle. 


Any damage to the vehicle shall be reported to THAM immediately with a written description of the damage or failed equipment. If the damage is due to the Owner’s negligence or any other reason, the Owner shall pay for all repairs (included deductibles and any uncovered expenses not covered by insurance) or reimburse THAM (if acceptable to THAM) immediately. The responsible Owner shall reimburse subsequent Owners for reasonable car rental fees (if not covered by insurance).

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