Why Fractional Ownership?

We’re going to be talking about this on Thursday, April 17th on Zoom at 10:00 a.m. Pacific/1:00 p.m. Eastern/7:00 p.m. France!

This is a one-hour Webinar with Pacaso’s Head of Europe, Joey Byrne and myself to explore the benefits and drawbacks of Fractional Ownership. Plus, we’ll highlight a few of our available properties in France where shared ownership might suit you perfectly.

Pacaso is a company that specializes in co-ownership of luxury vacation homes…what we call “Fractional Ownership.” It allows buyers to purchase a share (anywhere from 1/2 to 1/8) of a second home, rather than owning the entire property outright. Pacaso manages the property, handling maintenance, scheduling, and expenses, making vacation homeownership more accessible and hassle-free.

Fractional Ownership is NOT “Time-Share.” It is a hybrid of direct ownership and time-sharing, combining the best elements of both. Ownership brings together a few individuals in a single property with shared usage and shared expenses. Most fractional property opportunities in France are properties that have been purchased, renovated, and decorated by one developer who then sells off the shares to individual buyers. Most of these offerings are six to thirteen shares to minimize the investment amount while maximizing the size, location, and quality of the property.

I’ve developed nine properties myself since 2008, so I have quite a lot of experience developing, selling and managing the properties. We’ve learned what makes them work…and what doesn’t. We’ve also had the opportunity to assist other developers in finding the properties and marketing their shares.

There are a few elements that are key to success: proper legal structure, a smart usage calendar, a great location, a “sexy” property that is well designed and decorated, professional management and a like-minded co-ownership. If all of these elements come together, then so does a great property. Developing the properties is not for the average homeowner who thinks they can make a quick buck by selling off shares of a property they own. It’s a real business with an investment in time and money and wherewithal. It’s for this reason that we have partnered now with Pacaso, who is all of that—they know what they are doing!

Pacaso’s Rue des Beaux Arts apartment in Paris only has two shares left, so be sure to check it out and seriously consider ownership in this property.

We have shares up for sale in our own one-bedroom La Belle Terrasse (in Villefranche-sur-Mer with a large terrace overlooking the port and Saint-Jean-Cap-Ferrat) and our two-bedroom Le Palais du Soleil (in central Nice just a block from the water on a pedestrian street).

The owners have first right of refusal and they have been notified, with no immediate takers yet, so you’re in luck!

At La Belle Terrasse, Share H is available, meaning your next usage is September 11 to 25 of this year! The asking price is 99,700€ plus refunding the owner a security deposit, a pro-rata share of the annual dues and what remains in the Reserve Fund. The transfer of the share can be done by our recommended attorney at the buyer’s cost of about $1,000. See all the details about this amazing property.

Interior of La-Belle-Terrasse

The view from La-Belle-Terrasse

At Le Palais du Soleil, Share H is available, meaning your next usage is May 22nd to June 5th and another usage this year from November 11th to December 4th! The asking price is 129,700€, again plus refunding the owner a security deposit, a pro-rata share of the annual dues and what remains in the Reserve Fund. The transfer of the share can be done by our recommended attorney at the buyer’s cost of about $1,000. See all the details about this amazing property.

Chez Mirabel in Provence in the village of Mirabel-aux-Baronnies has a share for sale, too!…for just 87,500€, plus $3,000/year homeowner association fees, which includes a contribution to the reserve fund. There are 10 shares, each 5 weeks/year. (Allows for 2 weeks annual repairs and deep cleaning.) See all the details about this amazing property.

This doesn’t happen often, so now’s your chance to take advantage of the offerings. If you want to learn more about any of these properties, email us today. Be sure to denote which property you’re interested in!

If you want to learn more about the concept of Fractional Ownership and how you can become one of the happy owners, then be sure to tune in to our Webinar! It’s free, fun and will be informative!

Here’s how to register for the event.

The webinar will be recorded and available on our YouTube channel after the event.

A la prochaine…