The properties are unencumbered with no loans or debts and are owned by a UK Limited Company.
Each property is set up as a separate UK Limited Company, having 52 shares (one share per week of the year). You, the buyer, can buy one share (week) or more. You can choose to use your week(s) or rent out your week(s) or swap it/them with other shareholders.
The share(s) you buy can be sold at any time should you no longer wish to own a share in your chosen property. The shares can be included in your estate.
Once you have bought your share, the only other cost you will incur is the monthly property management fee which covers maintenance, bills, changeovers and any other outgoings.
Is this a timeshare?
No, this is not timeshare. Timeshare is a holiday system which gives owners only a right to use a particular property for a time of year. Timeshare has no real estate value, in other words, there is no bricks and mortar ownership.
With MY SHARE PROPERTY ownership, the purchaser actual owns a piece of equity (share) in the property. If the property goes up in value, the owner's share of the pie also becomes more valuable. With a timeshare, ownership is not distributed. The owner purchases only weeks or months of enjoyment in a property, and these weeks or months do not rise and fall in value with the value of the property. The title of the property is still owned by the principal owner.
That is the big difference with MY SHARE PROPERTY you own a share of the property.
Bricks and Mortar
The two are often confused – which is a mistake.
Conceptually, Timeshare was (and still can be) a flexible method of holiday vacationing, however, the industry suffered dreadfully from bad practices and sales tactics. Similarly to Timeshare, My Share Property provides you with much of the flexibility and choice, however, the fundamental difference is that with Timeshare, you own units of time, whereas with My Share Property you own title or shares in a freehold property. This asset has a value, which can appreciate with the property’s value and be sold.
Timesharers traditionally lost control of the management and running fees of a resort and therefore their ownership of “time” became an expensive burden, opposed to lifestyle benefit.
With My Share Property , management and maintenance fees are controlled. Every owner within a My Share property will want to see that costs are not inflated beyond inflation where necessary and indeed they have a large amount of control over the management fees.
Because My Share Property is asset-based, owners will not only be able to vacation in their property, they will also enjoy any growth in the property’s value.
Timeshares simply get usage of a property and therefore cannot experience any capital appreciation in the “bricks and mortar”.