Frequently asked questions

Here you can find all answers to frequently asked questions about EVEROMES vacation homes.

Category
Co-ownership

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

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.

No, neither. 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.

We fully protect you as a co-owner. As the manager of the holding company of your EVEROMES 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.

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

EVEROMES manages the entire acquisition process, the ongoing management of the holding company as well as the potential resale 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 set up, EVEROMES takes care of the ongoing affairs of the holding company, which includes bookkeeping, 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.

No. Co-ownership in an EVEROMES 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.

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 gets 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 EVEROMES vacation homes are inspected after each visit.


Booking

You can schedule a trip, manage your bookings via our 24/7 email or phone concierge service and soon through the EVEROMES YourStay app. 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 EVEROMES vacation home can be booked up to 2 years in advance but also as short as 2 days prior to arrival.

Every share of 1/8th grants you exclusive access to the property for about 45 days per year including 1 guaranteed week in the peak season. Every vacation destination has a defined peak season of eight weeks. If you wish to spend more time in your shared vacation home, you can acquire up to 4/8th providing you with 180 days exclusive access per year including 4 guaranteed weeks in the peak season.

Each co-owner of an EVEROMES 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.


Buying & Selling

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

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 share price fully includes all costs associated with the acquisition that are (i) real estate sale price paid to the seller, (ii) real estate transfer tax & notary cost, (iii) EVEROMES markup, and (iv) potential home upgrading cost including furnishing and decoration.

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 EVEROMES vacation home like they would for a regular home listing. Besides 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.


Services

EVEROMES manages all matters of the holding company of your EVEROMES 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 bookkeeping and provide annual reports to all co-owners, including the P&L of their property. Furthermore, EVEROMES provides the YourStay owner's app through which co-owners can manage everything related to their vacation home. In all of our vacation destinations, we operate a concierge service exclusively for the co-owners of EVEROMES vacation homes.

Yes. We manage the holding company of your EVEROMES 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 the highest quality standards. Our EVEROMES YourStay owner's app allows us to establish an efficient feedback loop between each co-owner and our teams to improve the service continuously.

For the times you are not using the property, you can benefit from our rental management service, turning your vacation home into an investment generating continuous returns.

As of today, the vast majority of EVEROMES vacation homes are developed by us. We have a track record in developing extraordinarily beautiful vacation homes that have 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 the highest quality of each EVEROMES vacation home - in terms of construction quality, interior design, landscaping, furnishing and decoration, as well as home technique. Each EVEROMES vacation home that becomes available for co-ownership is in perfect condition, ensuring truly memorable living experiences for each of our co-owners.

EVEROMES has local teams in each of our vacation destinations and works with selected local professionals for all kinds 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.

Your EVEROMES vacation home has regular expenses as if you were the single owner of the property. This includes property taxes, maintenance, repairs, and utilities. All operating costs 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. Costs 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.

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

We provide each co-owner with 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 organise external, guarded storage and manage the fitting of your EVEROMES vacation home for your stays. Costs for this service are passed along to the respective co-owner without any markup.


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