photo credit: mstorz
Is fractional property ownership right for you? Fractional means a mathematical portion of a whole. Fractionalized ownership of a luxury item has been commonplace for quite some time. You’ll often hear of people going in together to purchase a boat or an airplane and property is no different.
To make a fractional real estate deal it’s best to involve a property management group that specializes in these types of investments and properties to help you make your purchase and then maintain it. In these situations its not even necessary for the owners to know each other, it is nice to be able to touch base once in a while and explain any issues that occur with the property, but basically everything will be handled by the property management group.
If you and the other owners decide to try and make money on this venture, let the property management group know, and when its not being used by any of the owners, they will find tenants or renters to occupy the space.
In fact, a really good property management group that specializes in fractionalized homes will make the luxury aspect really ring true by loading the home with goodies and welcoming treats before your arrival and then arranging for cleaning afterward.
A fractionalized property isn’t usually a great money maker, even if it’s being used for rental purposes when you and the other owners aren’t around. This sort of property venture is actually for people with disposable income who want to experience a bit of the high life.