Frequently Asked Questions
This page has short answers to a few common questions. Remember, we start out with suggestions which we know generally work very well, but everything is adjusted to meet your particular requirements. If you want the details of exactly how things are done, we’ll tell you more when you’ve registered!
Ideally you should be able to use your share whenever you want to, with no limits imposed other than the need to be fair to all. We recommend a system whereby owners simply tell us when they want to use it. We have developed a unique and highly effective way of organising things so that normally owners can use their asset pretty well whenever it suits them. We don’t recommend fixed periods or rolling periods where everyone moves along on a predetermined rota. Those are typical of timeshare and fractional schemes but seriously limit your ability to do what you want, and make you plan further ahead than you might want to.
We recommend particular clauses in the agreement which ensures that no minority member can be “locked in” to a group and unable to dispose of their share at a fair price. At the same time, a minority member can’t hold the rest to ransom. That way everyone’s interests are protected.
We strongly recommend that rentals by individual members for money should NOT be allowed, because this would put everyone’s asset at risk, and it is essential to be 100% sure who has access to it. Most groups find that rental turns out to be more trouble than it’s worth. Because an OwnerGroup is such a cost-effective way to own, there’s not a lot of benefit in having to deal with strangers using your asset. However, we do have well-proved systems to organise rental for those who want it, without affecting the rights of those who don’t.
That’s a different matter and most groups allow this, but it has to be properly organised.
We strongly recommend that provisions be made for a significant amount of personal storage space.
Separate agreements can be made for this, but more significantly it’s possible to have subsidiary groups where there is more than one asset in the same area. For example, two members of a group with a villa near Nice could share a boat with three in another group with an apartment in Cannes.
We find that for most holiday property there is a typical local style which most people find acceptable, and can be used as the basis for any decisions. Otherwise, god quality “neutral” styles and colours seem to work well. With large storage spaces, individuals can also easily personalise the property when they arrive with their own books, pictures and so on if they wish. For boats and aircraft highly personalised decoration can be off-putting both for other members and when considering resale so neutral schemes tend to work best.
Cleaning can lead to friction if left to individuals and we strongly recommend that professional cleaning be adopted as standard. Plenty of good quality linen is also advised. For maintenance we suggest a fund is established through monthly subscription and that maintenance schedules are agreed at the initial stages of purchase.
OwnerGroups itself does not offer legal advice, but we can suggest a number of reputable UK specialist firms who can give you impartial advice on this kind of arrangement, and we have a number of firms who we have dealt with covering these specific types of arrangements. You are welcome, of course, to obtain your own advice and we would highly recommend that as a course of action as you should with any large purchase.
None if you don’t want to! All you would have to do is arrange for the subscription agreed with your co-owners to be paid into your group’s bank account each month, and check the group’s private website occasionally to indicate when you would like to go. OwnerGroups can deal with everything else.
Yes, Steve Last, The OwnerGroups Company Ltd CEO, will be delighted to meet you face to face. It is important in this connected age that a face to face meeting with both OwnerGroups representatives, and, if possible, with members of your OwnerGroup, should take place.