September 8, 2022
Arrilo – Own partially, enjoy fully – co-own your holiday home
Arrilo makes second home ownership easy and affordable, the way it should be. The fractional ownership model allows several homeowners to own parts of one property, and the smart scheduling system gives everyone the opportunity to stay at their dream destination at least 6 weeks a year. While Arrilo handles the property management, all the homeowners need to do is plan their vacation.
Co-ownership means that up to eight families share the legal ownership of the property. Each of the family enjoys exclusive use of the home during scheduled stays throughout the year. However, the costs of buying, maintaining and cleaning the home are equally split between the co-owners. The process is simple – browse the listings on the Arrilo website 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 €600K. Arrilo finds and vets the co-owners, establishes a legal entity for each property and handles all the paperwork. Co-owners become the rightful homeowners and when all shares are sold, Arrilo doesn’t own anything and only provides property management services – cleaning, maintenance, etc.
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 on average. Arrilo sees this as an opportunity to democratise access to second home ownership by offering co-ownership.
You get to co-own one of 14 Arrilo luxury villas – 3, 4 and 5-bedroomed properties – on the Costa del Sol and six in Majorca together with up to seven other families – and you pay only for what you use. Ownership expenses are transparently shared between the 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 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. So all you have to do is pack your bags and arrive. The rest will be taken care of.