How It Works

Plum simplifies co-ownership with tools to help you every step of the way.

We help you through the journey

All the details you want to know

Listen to shared experiences

Your dream is affordable and within reach

We’re here to help!

What are the keys to successful vacation home co-ownership?

by | Nov 30, 2021

Fractional vacation home ownership group celebrating on a roof deckSuccessful co-ownership of a vacation home starts well before any real estate is purchased. Each potential co-owner should clarify their goals to ensure all of the group members are on the same page about the new property. The key is to determine, as early as possible, what the parties expect and desire from the property ownership as well as the most effective and efficient manner of ownership.

Once the group agrees on the type of property to pursue, they can begin to determine roles. Who will be in charge of the financial management? Who will be responsible for the decor? Who will maintain the garden? These can be individual roles or the responsibility of a committee. Everyone can have input, but someone will be the lead in each role for the group. These roles can be examined and reevaluated on a regular basis to ensure the group is satisfied.

Basically, the group needs to reach a consensus that balances the need to make timely decisions, the need to protect each co-owner’s rights, and the need to avoid situations where any one co-owner could prevent decisions from being made.

With this thorough planning and consensus building, the group can move on to purchasing a wonderful vacation home with the full knowledge that if there are disagreements (and there will be) they are prepared to overcome them while keeping the group intact and happy.

Investing in Fractional Ownership Amidst High Interest Rates

Investing in Fractional Ownership Amidst High Interest Rates

In the current real estate landscape, high interest rates continue to raise important considerations for potential buyers eyeing fractional (co-ownership) vacation homes. One common adage in real estate, "Marry the property, date the rate," resonates strongly in this...

Everything to Know About Timeshares: Pros, Cons, and How They Work

Everything to Know About Timeshares: Pros, Cons, and How They Work

Tmeshares are a $10.5B industry in the US with over 1500 resorts offering over 200,000 units and owned by nearly 10MM US households.  Love 'em or hate 'em, timeshares are a thing.  As Plum CoOwnership is an alternative to timeshares, we get asked a lot of questions...

The 7 Deadly Sins of Fractional Ownership

The 7 Deadly Sins of Fractional Ownership

Fractional ownership is a great way to own a vacation home without the high cost and hassle of full ownership. However, it's important to avoid these seven deadly sins to ensure a successful experience: 1. Petting the Puppy Before You're Ready to Own a Dog It's...

Pin It on Pinterest

Share This