A slice of paradise

Owning a share of a luxury property, not a block of time is the ethos of Pacaso’s collection of spectacular homes. 

Take a look at Pacaso, a new way to own property that’s taken the US market by storm and has now arrived on European shores. Locations include London and Marbella. The company aims to put spectacular holiday homes within reach of more people through co-ownership, then provides seamless booking of stays and comprehensive property management.   

A heads up: it’s not a timeshare. When you buy a share of a Pacaso, you own a piece of real property, structured as a limited partnership. You can use your property in proportion to your amount of ownership, and stays are booked easily through the Pacaso app, powered by a proprietary SmartStay scheduling system. It’s called SmartStay for a reason: the system is designed to ensure every co-owner has fair access to their home, including highly desirable dates such as local holidays, school holidays, Easter and Christmas. What co-ownership really means is that truly spectacular properties can now be enjoyed by many more buyers. 

The idea itself was driven by Pacaso’s founder Austin Allison, who observed that most holiday homes are underused, sitting vacant for 10 to 11 months out of the year if they’re not being rented out. As he says himself, “It doesn’t make sense that someone would own 100% of a home that they’re only going to use 20% of the time.”  

How it works: Pacaso buys a top-of-the-range property in a sought-after location, sets up a limited partnership and sells ownership in amounts ranging from one-eighth to one-half. The property then belongs entirely to you and your co-owners. It is professionally decorated by Pacaso, and fully managed by Pacaso and its trusted property management partners.  

Owners are responsible for the home’s expenses, such as property taxes, maintenance, cleaning and everyday repair and utility bills, as well as a small management fee, which are paid as a fixed monthly sum to the limited partnership account— then Pacaso handles the bill payments, and schedules and oversees all the management of the home. All you have to do is book in, turn up and enjoy your fabulous holiday pad. As well as being beautifully furnished, every Pacaso property features storage lockers where you can stash your belongings when you’re not there.  

If and when you feel it’s time to move on, the share is yours to sell at full market value. On average Pacaso shares resell in fewer than 12 days, with a 12% gain on an annual basis.  

www.pacaso.com