Arrilo co-ownership offers a modern way to own your own holiday home in the sun without many of the hassles of timeshare

Holiday home timeshares have had a lot of bad press in recent times, what with pushy salesman types and deals with limited options on occupancy. In the long run, they can work out as unaffordable and downright frustrating. That's why Arrilo is so different - it's not about timeshare, it's all about co-ownership in holiday homes, specifically on the more upmarket property side of the Costa del Sol and Mallorca.

Co-ownership offers a different way to buy and own the holiday home of your dreams, affordably. While you still have to share your holiday home with the other owners, it does away with a lot of the hassle associated with owning property abroad. Co-ownership also feels more like a personal investment in a home than a timeshare.

Millions of families dream about owning a second home. However, that's considered a luxury, available only to a few lucky ones. At the same time, most high-end properties are used only six weeks a year. Arrilo sees this as an opportunity to democratise access to second home ownership - an opportunity for British people with a love of holidaying in the Spanish resorts to gain access to a premium second home in the sun they've always wished for.

Costa del Sol luxury

You get to co-own one of 14 Arrilo luxury villas - 3, 4 and 5-bedroomed properties - on the Costa del Sol and 6 in Majorca together with up to seven other families - and you pay only for what you use. Ownership expenses are transparently shared between home co-owners. All owners have access to smart stay scheduling and hands-free property management. It's second home ownership the way it's meant to be.

The Arrilo co-ownership model works like this: simply browse the listings on the Arrilo website www.arrilo.com and select the home that best suits your lifestyle. Estimate the number of property shares you like to own - 1/8 gives you 6 weeks, 2/8 gives you 12 weeks, and ⅜ gives you 18 weeks (4.5 months). Based on the 1/8 arrangement, share prices in Spain range from €100K to €400K.

Here's a great example. In the Cala Major area of Palma, Mallorca you can buy a 1/8 share in the San Augustino Penthouse, a four-bedroom 211 sqm property with breath-taking views over the Bay of Palma, for €461,879 (£388,738) 1/8 ownership. Typical of other Arrilo properties, this ultra-modern villa includes a pool, 360-degree views, outdoor seating, sun loungers and umbrellas, sea view, city views, fireplace, smart TV, terraced area, garage parking, heated floors, high-speed Wi-Fi, is fully furnished, dogs friendly, balcony, security cameras and non-smoking rooms.

Property management

The built-in property management takes care of every aspect of running, cleaning and maintaining the home. All of the running costs are divided proportionally among all co-owners and through the simple use of the Arrilo scheduling app there's no need to additionally communicate with auditors, property managers or other owners.

Once you become a co-owner, you can book your next workation or a holiday with your loved ones. Through an intelligent scheduling app, each owner is guaranteed to stay at their home during the high and low seasons.

Arrilo finds and vets buyers, create a legal entity for each property and manage all the paperwork. Co-owners become rightful home owners. When all property shares are sold, Arrilo doesn't own anything.

Certainty and familiarity

While one may argue that it might be a better idea to spend the sort of money involved in co-ownership holiday homes on a succession of holiday rental villas, what appeals to Arrilo clients - and those with a handful of other companies on the market offering similar opportunities - is the certainty and the familiarity of it all. As one Arrilo client put it: "There may be other owners but we feel like we own each property when we walk through the door."

Then there's the flexible scheduling from the convenience of wherever you may be in the world. There are no fixed weeks or rigid schedules.

Should you ever decide to sell the share in your Arrilo home, just set the price and let them know. They'll list your share on their marketplace and help you find another buyer - or you can sell on your own if you choose. It's up to you. Unlike timeshares, the co-ownership model allows you to benefit from property appreciation once you sell your share.

Overall, co-ownership offers a modern way to own your own holiday home with all the familiarity and comfort that it brings without many of the hassles of owning an entire property. With new schemes like Arrilo, it could also offer year-round holidays from skiing to sun-drenched beaches as the company progresses its portfolio during 2022 to Italy and other destinations further afield.

Arrilo
Fractional Properties UAB
Islandijos g. 6
Vilnius
Lithuania LT01401

Email: egle@arrilo.com

UK Contact: Graham Garnett, SomethingToShoutAbout EA UK (Email: wordsmithgginnorwich@mail.co.uk, Phone: +44 (0)37 607 1650)

Arrilo is a managed second home co-ownership company. We match up to eight owners to a luxury second home and take care of running the property for a delightful, hassle-free experience. All you have to do is to arrive at your villa.

This release was published on openPR.