Apartment in Javea, Spain
We have owned the apartment in Javea, Spain for three years and love everything about the apartment, the complex and Javea, which we have been renting to pay the mortgage. I am starting another business so it is now taking too much of my time to rent and organize. Therefore we decided to change to shared ownership so we can retain our share to use for holidays and split the running costs between the owners and pay off the mortgage.
With respect to sharers, we have had a few enquiries with another fractional owner interested at present so we only need two more. It is feasible to own more than one share and I have not divided the year into shares, as this should be done with the agreement of all the owners working as a community. My next task is to have a real push on more advertising to get the venture transitioned to shared ownership.
We have our own site for the apartment at Javea-Holiday.com which we use currently for rentals so you can see more photos, guest comments, location, travel arrangements etc. Also we have someone managing it for us in Spain and they can continue to do this on behalf of the owners.
The intention is to set up a limited company in Spain which will own the apartment and this gives maximum flexibility to sell shares in the company rather than change the property deeds if someone wants to sell their share in the future.
Regarding the sharing arrangements, I was keeping an open mind as my intent is to build a community of owners which would be better to do by agreement, than me trying to dictate the sharing arrangements. My thoughts would be to split the shares over an equal number of weeks apportioned through the year. This will depend on requirements as it is impossible for everyone to have the six week summer period.
|Share Type:||Sole owner seeking partners|
|Item Type:||Real Estate (Condo)|
|On the Web:||javea-holiday.com/|
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