Welcome to our FAQs on staying in my property! Fractional ownership, also called co-ownership for second homes, is a type of property investment that allows multiple people to co-own a holiday property without all the costs associated with it. This is a great option for those who want to holiday in a particular location, but don’t want the burden of maintaining a full-time residence there.
In this FAQ, we will cover everything you need to know about staying and using your property, including how it works, and what to consider before making a purchase.
So if you’re considering buying a fractional ownership property, read on for all the information you need to make an informed decision.
Reservations can be made directly on the dynamic calendar of the mobile app (with most of our partners). The calendar is usually open up to 24 months in advance. The co-owners are also selected with complementary profiles to ensure that everyone’s stay preferences can be accommodated.
Bookings can be made up to 24 months in advance, with a minimum of two days’ notice required. During high and mid seasons, reservations are made through a system of options, which can be confirmed at least 120 days before the start of the stay if you wish. Often you have two categories of bookings depending on the season:
-Advance bookings (usually high season)
-Last-minute bookings (minimum two days before and max. 30 days in advance). This is booked directly on the calendar without any need for validation by the property manager. Obviously within your stay allowance.
Each share gives you the same pro-rata in terms of days to spend in your home. If you buy one share worth 1/8th of the price, you get to use your home 1/8th of the calendar year (1.5 months/year or 6 weeks). Most of our partners sell on the basis of 1/8th shares giving you access to a total quota of 42-45 nights, divided between the different seasons. Broadly speaking, for ski properties and seaside properties, there are between two and three seasons depending on the location (high, mid, low or high and low). You can let what you are not using to generate rental income if the rental of your property is not prohibited in the area.
Contact us for more info based on the property that you are interested in.
Of course, the more shares you buy, the more your total quota of nights/months increases (1 share = 1.5 months/year, 2 shares = 3 months/year, 3 shares = 4.5 months/year, 4 shares = 6 months/year).
These times vary according to each property depending on the duration of intervention of the cleaning teams between two stays. The standard arrival time is set at 3 p.m. and departure at 11 a.m.
Usually, it is two days but some partners work per week stays. Contact us for a particular property.