We appreciate you might have lots of questions about co-ownership with Lazazu. Hopefully you’ll find your answers here. But please contact us if you have any more questions.
For buyers and owners
Yes, this is deeded property ownership. You’ll own your share of the holiday home via a locally incorporated company that is set up specifically for the purpose of owning real estate. Together with the other co-owners, you will be shareholders of the company.
You can purchase up to 50% of the holiday home, the equivalent of four shares. Shares are sold in ⅛ fractional portions. Each share allows you to use the home exclusively for 45 nights per year.
Yes, you can finance your property purchase through a private financing facility or alternatively via some of the leading European banks who work with the Lazazu co-ownership structure.
We have created a simple, intuitive and equitable scheduling system that allows you to schedule your stays. One ⅛ ownership share gives you access to the holiday home for 45 exclusive-use nights per year, two shares gives you 90 nights, and so on. The system also ensures that all co-owners have equitable access to the home during peak seasons. If another owner doesn’t take up their allocated usage you are welcome to enjoy additional time at your second home.
No, this is real home ownership. Timeshare gives you the right to use, not own, property – often a unit in a higher-density development or hotel. We help you own and enjoy unique and carefully selected beautiful single family homes. The value of the second home will change with the market. Should you wish to sell your share anytime after an initial 12 months of co-ownership, we’re here to support you with the process.
Yes, after registering with us, your family and friends may use some of your allocation even if you’re not present at the home.
The purchasing process is similar to any property transaction in Europe. The holiday home will be purchased by a locally incorporated company – the only real difference is the number of co-owners.
We provide a seamless purchasing service that means you don’t need to communicate or agree anything with the other buyers. All buyers sign the same documentation when they purchase their shares. Once you become a co-owner, we manage everything on your behalf and serve as your single contact point. For important decisions, we have a voting system that is explained in our purchase agreements.
Shared property ownership is not a new concept – many people have entered into DIY arrangements. We offer a fully managed purchasing and ownership experience that brings together like-minded owners and takes away the hassle, as well as the relationship and financial challenges, often involved in setting up and managing DIY co-ownership.
We set up the holiday home to the Lazazu standard before you start enjoying it. We’re passionate about design and work with professional European interior designers who focus on a combination of casual comfort and clean aesthetics that is in keeping with the home. Each Lazazu home is unique and so are its beautiful interiors.
Owners share the running costs in proportion to the number of shares they own. All costs associated with the cleaning and maintenance of the home are tightly managed to an annual budget and we pass these on to the co-owners without any markup.
We charge a monthly flat fee of EUR 125 per ⅛ share to cover the cost of managing the company exclusively set up for your holiday home, and to provide you with the support and technology you need to enjoy it.
We assign a dedicated home manager who will take care of all aspects of your second home, including employing local cleaning and gardening services as well as managing utilities, insurance, maintenance, repairs, and interior upgrades.
We will do everything possible to resolve any concerns you may have. If we don’t live up to our promise, you can remove us as your holiday home managers.
We will work with the owner to resolve this, but you are protected and will not have any responsibility for another owner.
We believe that owners treat their second homes with care, but accidents do happen from time to time. We are there to assist if anything happens during your stay and we inspect each home at the end of every stay. Any damages outside of normal wear and tear will be for the responsible owner’s account.
You may sell your shares at any time after the first 12 months of owning them. They can be sold on the open market via an agent just like any other property, and we are there to support you through this process.
If the holiday home appreciates in value, you will benefit from this.
Yes. Your second home is equipped with private storage spaces for your personal items.
We believe that owners treat their holiday homes with the necessary care – but there is a code of conduct that all owners are expected to adhere to when they buy a share.
Yes, you can unless there are specific local license restrictions, which we will advise you on before you consider a specific second home. To help with maintaining standards and ensuring a consistent experience for all co-owners, we provide an end-to-end rental service. You only have to let us know which dates you wish to rent, and we will make them available.
Only dogs are allowed on the property.
Agents play an important role in our fractional ownership offering. We work together with agents and pay a commission on the value of every share sold. As the agent, you receive the commission on the day your share sells.
Our process is very similar to a typical sales process, we handle the paperwork and you get paid as soon as you sell a share.
Please get in touch with us to schedule a viewing or have the buyer contact us and register you as the referring agent.
We transfer the home ownership from you to a company. You can keep up to 50% ownership of the holiday home.
Very little from your side. We’ll work with a local agent to create the relevant marketing materials. After the closing we make any necessary repairs and design adjustments. You continue to use the holiday home, just with the difference that you’ll use our scheduling system to reserve your stay nights allocated to you based on the number of shares you choose to keep.
Buyers are typically like-minded second home owners who will take good care of the home just like you. They all sign a code of conduct when they purchase their share.
We make use of professional interior designers to redecorate the second home in the Lazazu style. We’ll purchase and retain any items from you that fit with the Lazazu design criteria.
You may sell your property share after a period of 12 months. The other owners have a right of first refusal to purchase the shares.