Everything is done for you
Co-owned properties are professionally managed by the provider, which handles all the home maintenance such as cleaning, gardening, pool care, painting, and repairs.
The provider also looks after the administration and bill paying, so you’re not lumbered with the headache of utilities, insurance, and taxes. All bills are divided equally amongst the co-owners (with no markup) to considerably reduce property overheads – and they’re paid on your behalf, so there’s no need to worry about the paperwork.
Seamless property management
Co-ownership providers charge a modest monthly management fee alongside the pro-rata operating costs. This fee is typically around $100 USD per month, per share, and covers day-to-day staffing, such as the employment of a dedicated property manager who ensures the smooth running of your home.
As a co-owner, you will also be asked to pay into a shared ‘reserve fund’ that sits in a high-interest savings account. This acts as a ‘safety blanket’ for major repairs, improvements, or emergencies and gives real peace of mind that there will be no unexpected bills to pay.
The provider calculates a suitable monthly amount, to keep the property’s fund topped up. This is in proportion to the number of shares you hold, which is so much better than having to pay for the whole home yourself.
Smart apps make it effortless to schedule a vacation at your second home. At the click of a button, you can book a vacation as little as 2 days before or up to 2 years in advance depending on the scheduling of your particular provider.. This is far easier than spending hours researching vacation rentals before you finally land on one.
In your app, you can see all your scheduled vacation weeks, choose a new stay if plans change, and speak directly with your provider. Conveniently, your app also enables you to view your financial data, and make secure payments when required.
Own a vacation home you can drive to
In their quest to stay in a suitable hotel or vacation rental, people are all too often forced to take a flight to a faraway location, but co-ownership brings vacations closer to home if you prefer it that way.
When you buy a co-owned property, you have full freedom to choose a home that suits your individual needs. So, if you’re looking to buy a place within easy reach of your primary residence, you can do just that! A property in Lake Tahoe, a little over 3 hours’ drive from San Francisco? No problem!
A guilt-free winter escape
When you’re ready for a break from the daily grind, your co-owned home makes a blissful retreat, especially over the winter months when you’re craving some sunshine, or snow if you’re a keen skier or snowboarder.
By understanding your unique requirements, whether that’s a property in a location with year-round sun or a snow-sure alpine chalet, co-ownership providers are experts at pairing you with a home that perfectly suits your lifestyle.
As the co-owner of a second home in a world-class destination, you can vacation without the guilt of costly beach property or chalet rentals, and create a lifetime of memories in a place that’s dear to your heart.
Co-ownership means you can share the property expenses with your fellow co-owners, but what if a co-owner fails to pay their bills? Don’t worry, you’re covered! Your provider automatically steps in and pays on that person’s behalf, putting the co-owner into default.
This way, you never have to worry about other co-owners letting the group down, you’re 100% protected.
Co-owned properties are beautifully designed and furnished, exceptionally well appointed, and professionally maintained, to make you feel at home the moment you walk through the door.
Your property manager makes sure every little detail is tended to, so your home is consistently perfect each time you come to stay. You can expect it to be spotlessly clean, equipped with fresh linen and towels, and some providers will even stock your kitchen with groceries! Any other personal requests will also be organized on your behalf, just as you’d find in an upscale hotel.
Compared to vacation rentals, which have varying amenities, you can be sure of a personalized, enjoyable, and comfortable stay at your co-owned property - each and every time.