How can OwnerGroups help manage a group?
Group ownership of any asset will require careful management, be that for the financial side, time allocation or just general housekeeping. The OwnerGroups can manage your asset for you after purchase for an annual fee. We have over 30 years of experience in running shared asset groups and so we know many of the pitfalls and potential issues. By being an independent voice in a managing group we can sort issues out before they become a major problem. If you are a member of syndicate and would like to talk to The OwnerGroups Company Ltd about managing it you can get in touch here.
You will need to have discussions with your fellow OwnerGroup members about things as mundane as cleaning services, decorative upkeep and routine maintenance. You may even want to be able to talk to each other about such things as good local restaurants, good mooring spots or even the weather. With The OwnerGroups Company Ltd managing your group we provide you with a dedicated group area on this very website with a forum for chat, a private messaging area and even a wall for posting photos.
Once your OwnerGroup is up and running you will need to set up a fund for annual running costs, repairs and perhaps even improvements. The OwnerGroups Company Ltd can manage this fund on your behalf. All monies are held in separate client accounts with our bank based in the UK. There is no pooling of funds with other groups and your money is only accessible on your group’s instruction. Any monthly or usage costs are decided by you and your fellow owners, with our advice should you need it.
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 go. We have developed a unique and highly effective way of organising things so that normally owners can use the property 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.