FAQs

OwnShare, also known as  co-ownership, shared ownership or fractional ownership, is a popular option for individuals or families who want to own a holiday home without bearing the full cost and responsibility of outright ownership. OwnShare allows multiple individuals to own a percentage of a property, with each owner entitled to use the property for a period of time each year based on the number and duration of bookings and OwnShare’s Fair and Equitable Policy. These rights exist forever, until the share is sold, at which time they pass to the next owner; just like traditional property ownership.

OwnShare involves a legal agreement outlining the ownership structure and usage rights of each owner. In OwnShare‘s OwnShare model, each owner owns a share of the property, usually ranging from 1/8 to 1/4, and has usage rights proportionate to their ownership share. By contrasts, in a timeshare arrangement, ownership is divided into specific time periods, typically a week or two, with each owner entitled to use the property during their designated time only with no underlying ownership of the property; just some rights to use it. Timeshare tends to be used for large buildings, such as large apartment buildings, and has many ‘owners’, often hundreds. OwnShare only operates in the OwnShare structure and does not offer timeshare, preferring the intimacy of a small group of families owning a single property.

OwnShare can provide several benefits to owners, including lower upfront costs, shared responsibility for ongoing costs, and access to holiday homes that might be more luxurious than they had previously thought possible. However, it is important for potential owners to consider all elements of the arrangement such as flexibility in scheduling usage.

In addition to the legal agreement defining ownership and usage rights, OwnShare typically involves ongoing management and maintenance of the property, which will be handled by OwnShare, to cover services such as property maintenance, housekeeping, gardening and concierge services for co-owners and guests.

Overall, OwnShare can be a great option for individuals and families looking to enjoy the benefits of a holiday home without bearing the full cost and responsibility alone.

Yes, in OwnShare, you actually own a share of the underlying home. Put another way, OwnShare is where a small group of people collectively own the entire holiday home and individually own an interest in it.

OwnShare interests are represented by a share of a limited liability company and it is the company which owns the title or deed to the home on behalf of its shareholders, the co-owners. It is very similar to traditional property ownership, but the property interest is smaller than in outright ownership as each owner holds a percentage ownership interest in the home rather than 100%.

A property interest gives co-owners the right to use the home exclusively, subject to booking arrangements with other co-owners. It also allows co-owners to reduce the costs of owning and maintaining the property by sharing costs such as property taxes, insurance, and maintenance with other co-owners.

OwnShare of luxury holiday homes can be an attractive option for people who want to enjoy the benefits of owning a second home without the full financial burden and maintenance responsibilities of owning it outright. Here are some benefits of OwnShare:

1. Cost savings: OwnShare allows you to share the costs of purchasing and maintaining a luxury holiday home with other co-owners. This can significantly reduce the upfront costs and ongoing expenses, making it more accessible for those who may not have the financial means to purchase a second home outright.
2. Multiple homes: OwnShare can facilitate the purchase of multiple homes in multiple locations, allowing a travelling lifestyle that otherwise would be impossible for most people. It’s always good to be home. Why leave it at just one.
3. Multiple shares: Want more time, but another share. Each share provides 6 weeks use every year.
4. Flexibility: With OwnShare, you own a share of the home and are not tied to it for the entire year. This gives you the flexibility to use the home when it suits you, without the guilt that full ownership provides if you want to go somewhere else. OwnShare can be particularly attractive for those who only want to use the home for a few weeks or months each year.
5. Greater access to luxury homes: OwnShare can also provide greater access to luxury homes that may not be affordable for an individual to purchase outright. This can be particularly appealing for those who want to own a holiday home in a desirable location, such as a beachfront property or mountain resort, but may not have the means to do so. As such, OwnShare really does allow you to own the dream.
6. Social benefits: Tell all your friends about ‘your’ home in Burleigh Heads, ‘your’ home in Noosa Heads on the Sunshine Coast or ‘your’ home in Palm Cove north of Cairns. Invite them all to your homes away from home and live the life of the rich and famous.
7. Community benefits: OwnShare can also provide community benefits, as the home is used only by owners, not renters, and the occupancy rate is normally 85-95%, thereby contributing to the community year round.
8. Professional management: OwnShare will be responsible for maintaining and managing the property on behalf of co-owners, taking care of tasks such as cleaning, maintenance, and bookings. This can save you time and effort and ensure that the property is well taken care of.

Overall, OwnShare of holiday homes can be a cost-effective and flexible way to enjoy the benefits of owning a holiday home without the full financial burden and maintenance responsibilities of outright ownership. It can provide greater access to luxury homes, shared responsibilities, social benefits, and professional management services.

One of the key benefits of owning an OwnShare is the ability to book stays easily. Here’s how bookings work.

OwnShare co-owners schedule bookings directly through OwnShare’s booking app. This makes it easy and convenient, allowing co-owners to see real-time availability for your home. Bookings can be made from 2 days to 2 years in advance on a first-come, first-served basis.

The number of weeks each co-owner can use the home is based on the number of shares owned. For example, if a co-owner owns 1/8th of the home, they would be entitled to use the home for six weeks per year with additional short-term stays over and above this.

General Stays can be booked from 30 days to 2 years in advance subject to some limitations during Peak Season and Holiday Periods to ensure the system is fair and equitable for all co-owners. Peak Seasons and Holiday Periods are defined for each individual home. As the demand during these periods is high, the number of bookings and the number of consecutive nights booked during these periods is limited until all co-owners have had ample opportunity to book their preferred dates. Outside of Peak Season and Holiday Periods, bookings are easier and more flexible.

All dates, irrespective of its Peak Season or Holiday Period classification, that remain un-booked within 2 to 30 days of the proposed arrival date will be released to all co-owners and available as a Short-term Stay. This provides co-owners with the flexibility to stay on an (almost) spur of the moment basis. Short stays do not count towards your allocations and are encouraged to make the most of the home.

Co-owners can book for their own personal use, that of a life partner or a family member such as children. Co-owners can also book for guests. If a booking is made on behalf of a guest and the co-owner will not be present in the home for the whole period of the booking, then there are additional identification requirements and an ongoing obligation that the co-owner will remain responsible for any losses or damage caused by their guests.

And, of course, neither co-owners nor family nor guests are permitted to rent out the home other than through OwnShare in the way allowed under the agreement. OwnShare‘s core ethos is that homes are for living and sanctuaries for families. We believe sharing ownership and sharing usage is a more elegant evolution of the sharing economy compared to, for example, companies like AirBNB or Stayz which only share usage, but keep ownership firmly in the hands only of those who can afford 100%.

OwnShare‘s concierge service can assist with everything from booking local activities and making restaurant reservations to arranging transportation and stocking the fridge with groceries. And OwnShare‘s property management team ensures each property is clean and well-maintained before each stay. During your stay, co-owners can contact OwnShare‘s team at any time with questions or concerns.

In summary, bookings with OwnShare homes are easy and convenient for co-owners. The booking app provides real-time availability and a flexible booking policy, while the concierge service can assist with trip planning and the property management team ensures that each property is clean and well-maintained.

There are several alternatives to OwnShare for those who want to own a holiday home:

1. Full ownership: One alternative to OwnShare is to purchase a holiday home outright, ie. 100%. This gives you complete ownership of the property and the freedom to use it as you see fit. However, it also means that you will be responsible for all the costs of buying, owning, and maintaining the home, including 100% of the property taxes, insurance, and maintenance. Just make sure it is worthwhile, for you. On average, holiday homes are used for about 6 weeks a year . . . and empty for the rest, about 10 months a year! It’s a terrible waste if you pay 100% of the costs for only 15% of the benefit. And short-term rental, such as AirBNB, only increases this occupancy by 10% to 30% depending on the location. Still a terrible waste. OwnShare properties however, are occupied 85-95% of the year.
2. Timeshare: Timeshare is where people purchase the right to use a property for a specific week or weeks each year. Timeshares are typically sold in fixed increments, such as one week per year, and may include amenities such as house-keeping, meals, and access to recreational facilities. Timeshare is primarily for large complexes with hundreds of rooms and hundreds of owners and is often viewed as a budget option.
3. Holiday rental: Another alternative to OwnShare is to rent a holiday property on a short-term basis. This can be a good option for those who only want to use a holiday property for a short time, but it requires research, can result is some ‘surprises’, helps the owner of the property pay off their loan and does not offer any capital growth. There is also the risk of some community backlash and rising prices as Governments actively discourage rental platforms like AirBNB and Stayz by introducing Short-term Stay levies (eg. 7.5% in Victoria, Australia), maximum night caps, compulsory onsite hosts and increased land tax on second homes.

Overall, the best option for you will depend on your individual circumstances, including your budget, the amount of time you want to spend at a holiday home, and your willingness to take on the responsibilities of ownership.

OwnShare and timeshare are both types of shared ownership of holiday properties, but they differ in several fundamental ways.

OwnShare typically involves a micro-community – a small number of people each owning a share (usually from 1/8 to 1/4) of a single ‘property’ (real estate) and having a pre-agreed arrangement to share use and costs. In contrast, timeshare typically involves ownership of a specific ‘time’, usually a week or two, every single year, without any ownership stake in the property itself. This is a fundamental difference. OwnShare provides ownership and control over the underlying real estate. Timeshare does not.

OwnShare also offers more flexibility in scheduling holidays because stays can be at different times every year and can differ in length. Under timeshare however, usage rights are generally fixed at the same week(s) every year, year after year and for same length of stay as well. As such, timeshare offers limited flexibility.

Finally, OwnShare is often viewed as a more exclusive and upscale option, as it typically involves ownership of higher-end holiday homes and includes more personalised and high-end services, such as concierge services and holiday planning. Timeshare tends to be used in large complexes with hundreds of apartments to improve occupancy during weeks of low demand. Timeshare also tends to involve hundreds of timeshare owners where even a specific room is not guaranteed every year.

Overall, OwnShare and timeshare are both good options depending on what you are seeking. They differ markedly in terms of ownership structure, ownership of the underlying asset, flexibility in scheduling usage, and overall level of exclusivity and luxury.

Yes, you can sell your share. OwnShare’s OwnShare arrangement includes a re-sale program, which allows you to sell your share according to a streamlined process outlined in the agreement. It is important to understand the process that applies, but the arrangement allows you to sell your share anytime after one year and for you to name the price at which you offer your share for sale. Similar to other assets, it is then up to the ‘market’ to provide feedback on the price point and when changes may be needed.

It is possible to obtain a loan to purchase a share in a holiday home, although the availability and terms of such loans may vary depending on the specific lender and your individual circumstances. Some banks and financial institutions may offer loans specifically for OwnShare purchases, while others may consider such loans on a case-by-case basis. This includes, of course, Home Equity Loans where the purchaser uses equity in their primary residence to purchase a share of a holiday home. If your financial means allow, this may also be supplemented by other assets, such as shares or bonds.

If you are interested in obtaining a loan to purchase a share of an OwnShare, it is a good idea to shop around and compare offers from multiple lenders. Be prepared to provide information about your financial situation, including your credit score, income, and assets, as well as details about OwnShare‘s OwnShare arrangement.

It is also important to carefully review the terms of any loan you are considering, including the interest rate, fees, and repayment terms. Be sure to understand the total cost of the loan and how it will affect your budget over the long term.

It may be helpful to speak with a finance broker or financial advisor to determine the best type of loan for your needs.

In addition to traditional bank loans, there are several other ways to finance the purchase of a share of an OwnShare:

1. Personal savings: One option is to use personal savings or other financial assets, such as shares or bonds, to pay for the purchase of a share. This can be a good option for those who have the financial means to do so.
2. Home equity loan: If you own a primary residence, you may be able to use the equity you have built up in your home to finance the purchase of a share. A home equity loan allows you to borrow against the value of your home and can be a good option for those who have a good credit score, a stable income and solid equity in their home.
3. Private financing: In some cases, you may be able to secure private financing from a family member, friend or other third-party such as a non-bank lender to help fund the purchase of an OwnShare share. This can be a good option if you have a strong relationship with the lender and are comfortable with the terms of the arrangement.

Ultimately, the best financing option for you will depend on your individual circumstances and financial goals. It may be helpful to speak with a financial advisor or loan officer to explore your options and determine the best course of action.

OwnShare charges several fees to both buyers and sellers (not at the same time). Buyers pay a one-time transaction fee based on the share purchase price as well as an ongoing monthly fee for booking management, maintenance and property management. Ongoing monthly costs are, of course, shared with other co-owners. Sellers are charged a fee based on the price of the sale of their OwnShare share when the transaction is facilitated by OwnShare. Sellers are however, free to use another agent to sell their share. Additional fees may also apply such as legal, accounting and other completion and settlement costs.

Yes. While OwnShare is a licensed real estate agent, we are different. Our OwnShare service ‘complements’ traditional real estate agents. It does not ‘compete’ with them. Our purpose at OwnShare is to help ‘buyers’ own the holiday home of their dreams and we work with ‘listing’ agents to help achieve this. OwnShare’s business involves buyers acquiring luxurious holiday homes in an OwnShare arrangement. To help find buyers, OwnShare works with real estate agents to market homes they have listed and reach a broader, more diverse group of potential buyers through OwnShare. Equally, if any potential co-owners find a suitable home listed with another agent that they would like to buy, we would be delighted to work with them, find additional co-owners and work with the listing agent to purchase the home on their behalf. In all cases, the listing agent earns their commission for listing and selling the property. OwnShare does not seek any payment from the listing agent.

Yes, all OwnShare co-owners can choose the exact dates of their stay provided the dates are available and that the booking complies with OwnShare’s Fair and Equitable Policy. Bookings can change year to year according to your needs and are not fixed to specific time periods.

Of course.  OwnShare co-owners can bring guests to stay with them during their stay provided the total number of people staying at the home does not exceed the maximum number allowed for that property.

Yes, you can book for guests without you staying at the home with them provided additional identification requirements are satisfied and that the co-owner recognises they will be responsible for their guests including any damage caused during the stay.

The number of weeks a co-owner can use the home is dependent on the number of shares owned and OwnShare’s Fair and Equitable Policy. An ownership share of 1/8 allows for six weeks use each year under what are called ‘General Stays’. However, in addition to General Stays co-owners can also book ‘Short-term Stays’.

Short-term Stays are unlimited in number and available to be booked up to 30 days before the proposed date of arrival, provided the home is not already booked. Importantly, Short-term Stays are not included in the co-owners’ allocation for that year and are designed to encourage co-owners to use the home as much as possible and provide the opportunity for (almost) spur of the moment stays.

Yes. Up to 50% of your pre-booked stays can be rented out for short-term rental through OwnShare under a seperate agreement. This is to help defray the costs of ownership and allow for circumstances where all stays cannot be used in any given year. OwnShare’s core ethos is that homes are for living, that they are sanctuaries for families and that the predominant purpose for owning an OwnShare is to enjoy it with friends and family and create memories that last a lifetime. This is one of the core tenets on which all co-owners agree when they purchase their share of an OwnShare and this is the reason short-term rental is limited and conducted only through OwnShare.