EVEROMES FAQ


DO I HAVE TRUE OWNERSHIP IN MY VACATION HOME?

Yes. You are the legal owner of a share in your Everome vacation home with all rights and obligations that come with ownership of real estate. To setup co-ownership in an easier way you hold your real estate ownership through a property-specific holding company. The holding company as well as your vacation home is managed by EVEROMES.

WITH HOW MANY CO-OWNERS DO I SHARE MY EVEROME VACATION HOMES?

Each property-specific holding company is setup for up to 8 co-owners. This is the maximum we believe is practicable to provide each co-owner with extensive exclusive usage days. You can subscribe for one or multiple shares.

CAN I FINANCE MY PURCHASE?

Yes. You have a co-ownership in a valuable vaction home. Thus, you can get financing from various banks by pledging your share against a loan.

WHAT IS AN EVEROME PREVIEW LISTING?

An Everome Preview is a home that stands out based on its location, design, amenities or price. In an Everome Preview listing you can reserve a share; once there is sufficient buyer demand we setup the property-specific holding company and close the purchase.

WHAT IS A FUTURE EVEROME LISTING?

A Future Everome Listing is a home we are currently building, furnishing and decorating and that will be completed within a maximum of 12 months. You can already subscribe for shares in such Future Everomes and look forward to memorable vacations. At EVEROMES we have very high quality requirements to provide our co-owners homes for truly memorable living experiences. Thus, in almost all homes we list for co-ownership we have invested multiple months or even years to develop to perfection.

DOES THE PURCHASE WORK LIKE A REGULAR REAL ESTATE TRANSACTION?

Yes, the principles are the same. Instead of purchasing a property, you will purchase a share in a property-specific holding company that holds the property on behalf of you and the other co-owners. The legal forms as well as the closing process are very similar.

IS IT A NEW CONCEPT TO OWN A PROPERTY THROUGH A HOLDING COMPANY?

No. In all areas of real estate - from commercial to retail and residential - it is a common practise to hold ownership in properties through holding companies. This has certain advantages such as an easier transferrability, possibilities to govern the relationships between multiple owners etc.

WHAT ROLE DOES EVEROMES HAVE IN THE HOLDING COMPANY?

EVEROMES manages the entire acquisition process, the ongoing management of the holding company as well as the potential re-sale of shares by co-owners. This includes setting up the property-specific holding company, evaluating the applicants who are interested in a co-ownership and running the closing process. Once the holding company is setup, EVEROMES takes care of the ongoing affairs of the holding company which includes book keeping, communication to the co-owners, contracting and controlling service providers etc. If co-owners decide to sell their interest in the property, EVEROMES provides a marketplace for co-owners to buy and sell shares to and from like-minded people.

IS EVEROMES SOMETHING LIKE A TIMESHARE OR BUY-TO-LEASE MODEL?

EVEROMES helps people buy and own a real estate asset and enjoy a wonderful vacation home. With EVEROMES co-owners have a deeded ownership in the holding company and therewith in their vacation home. In contrast most of the past and present timeshare or buy-to-lease models, sell the right to use one or multiple assets of a pool for a fixed amount of time. Typically in timeshare or buy-to-lease models, members do not have real ownership rights.

IS CO-OWNERSHIP IN AN EVEROME VACATION HOMES SIMILAR TO A TENANCY IN COMMON?

No. Co-ownership in an Everome vacation home is structured through a holding company under German law. Owners purchase a share in the property holding company and therewith have a deeded ownership in the entire real estate asset. This structure provides co-owners with protection, privacy and flexibility. A Tenancy in Common is a specific type of ownership format with deeded ownership for each partial individual owner for a defined part in the asset.

HOW OFTEN CAN I ENJOY MY EVEROME VACATION HOME?

In general you can use your Everome vacation home as often and as long as you want and the home is free. Each share of 1/8th in an Everome vacation home grants the respective owner of this share an exclusive usage right of the property for 45 nights per year. If you own multiple shares of 1/8th, each of those shares grants you an exclusive usage right of the property for 45 nights per year. The maximum number of shares a co-owner can subscribe for is 4/8th, corresponding to 180 nights per year. An easy and equitable booking algorithm ensures that each co-owner has available time during peak seasons as well as off-peak seasons.

HOW DO I SCHEDULE A TRIP TO ENJOY MY VACATION HOME?

You can schedule a trip, manage your bookings and use our concierge service through the EVEROMES YourStay app. Alternatively you can reach out to the EVEROMES owners support team by email or phone 7 days a week. All our co-owners agree on some easy and equitable booking rules ensuring that each co-owner has access to the vacation home during peak season and off-peak season. Your Everome vacation home can be booked up to 2 years in advance but also as short as 2 days prior to arrival. See additional scheduling FAQs for more details.

WHAT ARE THE ONGOING COST FOR AN EVEROME VACATION HOME?

Your Everome vacation home has regular expenses as if you would be the single owner of the property. This includes property taxes, maintenance, repairs and utilities. All operating cost are passed along to the co-owners pro rata to their shares in the property without any markup. Additionally there is an annual fee of 0.8% of the property value payable to EVEROMES for the management of the property and the holding company, the ongoing support to co-owners, the provision of the scheduling technology as well as the concierge service to make each stay a great experience. Cost resulting from heavy use of the property (i.e. water, electricity surpassing the regular level) will be passed on to the respective co-owner who caused such cost.

WHAT SERVICES DOES EVEROMES PROVIDE AFTER THE SALE IS CLOSED?

EVEROMES manages all matters of the holding company of your Everome vacation home and the property itself. This includes management of maintenance, repairs, gardening, cleaning etc. but also requests from the municipality, tax authorities and other stakeholders. We handle book keeping and provide annual reports to all co-owners including the P&L of their property. Furthermore EVEROMES provides the YourStay owners app through which co-owners can manage everything related to their vacation home. In most of our vacation destinations we operate a concierge service, exclusively for the co-owners of Everome vacation homes.

DOES EVEROMES MANAGE EACH VACATION DIRECTLY?

Yes. We manage the holding company of your Everome vacation home and we manage the property. In each of our vacation destinations we have a team of experts who carefully selects, manages and controls local service providers to ensure highest quality standards. Our EVEROMES YourStay owners app allows us to establish an efficient feedback loop between each co-owner and our teams to continuosly improve the service.

WHO FURNISHES AND DECORATES THE HOME?

As of today, the vast majority of the Everome vacation homes are developed by us. We have a track record in developing extraordinarilly beautiful vacation homes that already won awards, gained interest from local and international press and achieved tremendous increases in their property values. We run our own architecture and interior design firm and ensure highest quality of each Everome vacation home - in terms of construction quality, interior design, landscaping, furnishing and decoration as well as home technique. Each Everome vacation home that becomes available for co-ownership is in perfect condition, ensuring truly memorable living experiences for each of our co-owners.

HOW MUCH AM I DEPENDENT ON MY CO-OWNERS? WHAT IF ONE OF THE CO-OWNERS IS NOT ABLE TO PAY THE BILLS?

We fully protect you as a co-owner. As the manager of the holding company of your Everome vacation home, we take full financial responsibility if a co-owner does not pay his/her bills. This is a great benefit of our co-ownership program.

WHO IS RESPONSIBLE FOR DAMAGES TO THE EVEROME VACATION HOME?

We have vetted each member of our co-ownership program and take particular care of only allowing people to join the group of co-owners who share the same values and respect towards the jointly owned vacation home. However there is always the possibility that something breaks or get damaged. Damages that go beyond regular wear and tear are charged to the co-owner who has booked the vacation home at that time. To ensure truly sublime living experiences for every co-owner, all Everome vacation homes are inspected after each visit.

WHAT IF I WANT TO SELL MY SHARE(S)?

Generally you are free to sell at any time, and you set the sale price. You’ll work with a real estate agent who will market the Everome vacation home like they would for a regular home listing. Beside using external agents who you probably need to pay for their service, we provide all co-owners access to the digitally-enabled EVEROMES marketplace on which they can buy and sell shares from and to other co-owners. Independently of the sale channel we will vet the new co-owner. After 5 years of ownership we organize a sale for all co-owners at no cost for them. We upgrade the Everome vacation home, prepare all the marketing materials and manage a sale process. Of course if you do not want to sell your share after 5 years you don't need to!

DOES MY SHARE INCREASE IN VALUE IF THE PROPERTY BECOMES MORE VALUABLE?

Yes, as a true legal owner you fully participate in any equity gains resulting - for example - from rising property prices in our carefully selected destinations. Typically we see annual value increases between 3-10% in our top vacation destinations.

CAN I KEEP PERSONAL ITEMS AT MY EVEROME VACATION HOME?

We provide each co-owner sufficient space for personal belongings. Some of the co-owners go as far as having their own set of mattresses, decorative items and cutlery - our concierge team can organize external, guarded storage and manages the fitting of your Everome vacation home for your stays. Cost for this service are passed along to the respective co-owner without any markup.

CAN I BRING PETS TO THE HOME?

Generally yes. However there are some restrictions in order to keep each Everome vacation home in best possible condition.

ARE THERE ANY POLICIES CO-OWNERS MUST ADHERE TO?

Each co-owner of an Everome vacation home must adhere to the Ownership Agreement agreed to among all co-owners. Such policies include for example security standards to prevent damages to the property and its amenities.

WHO WILL BE RESPONSIBLE FOR THE MAINTENANCE OF HOME AND GARDEN?

EVEROMES has local teams in each of our vacation destinations and works with selected local professionals for all kind of home repairs, maintenance and gardening. Due to our broad portfolio of vacation homes we get good deals from the best local service providers and pass them on to our co-owners without any surplus.

CONTACT US

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Interested in learning more about buying your vacation home with EVEROMES. We are happy to help and support you with all the information you need to make it happen.