Coraldize is a new way to own your second home at a fraction of the price and none of the hassle. We turn buying, owning and selling shares of a second home into an easy and fair experience, thanks to our propietary technology and impeccable service at every step of the journey.

Once a client becomes co-owner of one of our properties, they can schedule their stay through our scheduling system and enjoy their vacation with nothing to worry about as all it's taken care of by our team: legwork prior to the purchase, staffing, cleaning, maintenance, reparis, concierge services and anything related to the management of the property. It's like owning a second home, but just made easier.

‍

We enable multiple people to own a second home through our co-ownership model, allowing them to enjoy all the benefits of owning a home without the usual hassle that comes with it. We select unique properties in the Mediterranean with the right set of attributes, aggreagate a maximum of 8 co-owners, set up the legal entity and take care of the paperwork. Once the purchase is made, manage the property and any services needed by the co-owners during their stay, making sure they do not have to worry about nothing but to enjoy their time at home with their loved ones.

Not at all. There are three main reasons a Coraldize differs from a timeshare.

• Firstly, with a timeshare you have the right to use a property for certain time of the year. In contrast, with a Coraldize you own a piece of the property - you are the actual owner of a home. This means you may benefit from the appreciation in the value of the real estate asset.

• Secondly, when you want to sell a timeshare you must attempt to sell it back to the operator who sold it to you, at a price usually predefined at the moment of the purchase. With Coraldize, whenever you may want to sell out your share, you can easily do so through our marketplace, where we connect you with hundreds of real estate agents who will market your share and sell it out in just a few weeks.

• And lastly, timeshare properties normally are hotel rooms or condominiums in resorts while Coraldize properties are unique homes exclusively selected by our team based on the right set of attributes, their top location and their beautiful design.

It's very simple. Our co-ownership model allows multiple people to own fractions of a second home. This model has traditionally been used on a DIY format - we are reinvenitng the co-ownership experience by selecting the right properties, creating the legal entity, taking care of the legwork and the property management services, and providing 24/7 support to each co-owner. By simplifying the experience, we allow co-owners to focus on enjoying their home without the headache that usually comes with owning a second residence.

Every home is divided into eight shares, and each co-owner can buy from one eight to half of the property. Each eighth gives the right to enjoy the property 6 weeks a year, so in case one co-owner decides to purchase four co-ownership stakes, they will be able to enjoy their home 24 weeks a year.

We aim to provide full transparency on what are the costs and how we are able to operate the business. We only charge two fees:

1. A one-time service fee of 6% of the share's value once the co-owners purchase the home. This includes home selection, buyer aggregation, legal entity formation, home upgrades management and closing.
2. A monthly fee to cover the costs associated to managing the property. This monthly fee goes from 29€ to 99€, depending on the type of property and location, and is defined when the home is purchased.

Our portfolio combines homes purchased by Coraldize and available through our marketplace, as well as homes curated by our team and available for purchase but not owned by us yet, therefore also available in the real estate market. In this latter case, we purchase the home once several co-owners have confirmed their interest in that particular property.

Each share gives you the right to enjoy our home six weeks a year. Our scheduling sytem will allow you to easily book your stays with time in advance, and equitably amongst the co-owners. We define what is considered high season, shoulder season and low season, and distribute such weeks fairly so you get to enjoy your piece of paradise all throughout the year.

You can stay as many times as you wish, considering you have six weeks a year per share. This mean that you may want to schedule stays for consecutive weeks, or split such time in several weekends. Our scheduling system allows you to enjoy your time with total flexibility, ensuring each co-owner is able to enjoy the home as they please.

For more information on how the scheduling system works, feel free to get in touch and our sales team will walk you through the scheduling process.

‍

In order to ensure the home remains in perfect state all throughout the year, we allot 4 weeks for maintenance work and periodic repairs. If any of those 4 weeks are eventually not needed for maintenance work, we will rent them out and allocate the income to cover your operating expenses on a proportional basis amongst co-owners.

There is no actual limit on the lenght of your stay. This will depend on how the rest of co-owners allocate their stays, and you're free to schedule your time as you wish. Nevertheless, we ensure all co-owners have the opportunity to schedule their stays throughout the three seasons: high, shoulder and low. Therefore, usually stays during the high-season are no longer than 10 days, but stays during the low-season may be as long as more than a month. But again, this will basically depend on how the rest of co-owners schedule their stays each year.

No co-owner can schedule time for both Christmas and New Year. Besides this limiation, every co-owner can book their time at their home during holidays. Our scheduling system ensure a fair distribution of time every year during holidays amongst co-owners, considering factors such as school calendars and special activities at the location.

The scheduling process opens up every November to schedule time for the next year, starting on February 1st. Nevertheless, for the first year after the purchase, we distribute the weeks remaining before the year ends proportionally amongst co-owners. So if the purchse was made in July, we will habilitate each co-owner to select time from July through January right after the purchase is formalized.

Life doesn't always go as planned. If you are not able to use your scheduled time, you have several options:

1. Gift the time to a friend or family member
2. Rent the time -- you let us know the time you'd like to rent out and we’ll take care of the rest. The rental income will cover your operating expenses, and any excess will be transferred directly to your bank account.
3. Swap the time -- you would rather visit the Alps instead of sunny Ibiza this year? Let us know thorugh the app and we'll find a match.

Coraldize manages the basic services and staff required at the property all throughout the year, as part of our management fee. So cleaning, gardening and so forrth are already covered.

Are you looking to indulge yourself with the flavours of the Mediterranean sea through a five-course fine dining experience with one of your private chefs? We got you covered too. Our 24/7 concierge services will be available for you at all times through our live chat. We accumulate over 20 years of experience providing concierge services, so this is one of the highlights of your co-onwership experience with Coraldize.

Every co-owner has a dedicated space at the property to keep their personal belongings, so you don't have to carry them out every time you come home.

Owning a home involves certain costs throughout the year - insurance, taxes, cleaning, preventive maintenance or repairs are the most important ones. We provide an estimate of the year's costs upfront so you can budget accordingly. All bills and payments are passed to you at cost - no mark-ups whatsoever are applied to the operating expenses. Additionally, we conduct extensive research on each location to partner up with top-calibre suppliers and negotiate competitive rates to minimize the burden of such costs. The operating expenses are split equitably amongst co-owners, and you have the opportunity to cover these costs by renting out some of your time at the property.

Once you become a co-owner, you will have the opportunity to schedule your time, handle your payments and book additional services through our app, and assisted at all times by our corresponding teams. This implies staff and technology to run the operation efficiently, ensuring a smooth experience. Our maintenance fee covers such ongoing costs, and we minimize such burden through technology optimization and streamlined operational processes.

Our maintenance fee is the only way Coraldize makes money. Each and every operating expense is passed through at the market value, with no mark-up whatsoever. We take this very seriously, and work continously to optimize such expenses, negotiating with every supplier to minimize the impact on the home's annual budget. Addtiionally, we provide full transparency on every single bill and payment handled on your behalf, which are available to you at all times through the app.

The reserve fund is built over time through monthly contributions from each co-owner, which should be approved in advance through the annual budget. This fund is destined to cover unexpected expenses such as repairs, replacements and improvements. Keeping some extra budget aside allows us to pay such exceptional costs without having to ask you for large

Coraldize takes care of every home that are part of our portfolio.

First, we look after every legal and financial aspect involed in homeownership. This includes handling utilities, insurance and property taxes, creating and maintaining the legal entity that aggregates the co-owners of each home as well as its accounts and legal obligations, and representing the co-owners as required by outside parties, including municipal authorities.

On the other hand, we have our own on-site staff to take care of the actual home, providing high-quality property management servies to ensure each home is at all times up to the standards we aim for. We do partner with local suppliers to undertake the necessary maintenance and repairs, and our on-site supervises the correct execution of such duties.

As manager of the property's legal entity, Coraldize acts a neutral party against third-parties on behalf of the co-owner group. We aim to make the property management simple, so minor decisions such as small repairs, routine maintenance and so forth are made directly by Coraldize to minimize the back and forth with every co-owner and save you the trouble. But major decisions, such as relevant repairs or improvements, are subjected to the co-owners' vote. The idea behind is to make co-ownership as convenient as possible.

Absolutely. Our ultimate goal is to make co-ownership as simple and convenient as possible. If the group of co-owners votes to remove Coraldize as a manager, we'll simply step aside and leave our role as a manager so the group can manage the property themselves. Though such event never happened yet and hope it never will :)

Never. Each co-owner is repsonsible for any expense incurred during his/her stay. No other co-owner can be penalized for acts of other co-owner.

We will never pass expenses from due by one co-owner to the rest of co-owners. As property managers in legal and physical terms, our commitment is to protect all co-owners from any potential economic harm due to other co-owners acts. Therefore, we will perform any necessary repair and seek to recover any amounts spent for such repairs directly with the owner in question. Should such co-owner not satisfy the amounts owed, we will start the default process, which ultimately ends with the reposession of the corresponding share, to be resold to a new co-owner.

One of our key promises is to protect every co-owner from other defaulting co-owners. In case of default to fulfill any due obligations from a particular co-owner, Coraldize will step in and pay take care of such obligations itself, to afterwards seek those amounts through to the defaulting co-owner. Ultimately, if the co-owner does not proceed to settle down any outstanding amounts, Coraldize may reposses and resell the defaulting co-owner's share.

This category refers to the cost of labor and materials needed to maintain the property up to the standards expected in a luxury vacation home. For instance, gardening or pool maintenance are both considered ordinary maintenance and included in this cost category.

Every home has a designated Coraldize manager who ensures that the operation at the property as well as your experience as a co-owner are running smoothly. You could let the home manager know through the provided communication channels, or in case you need to let us know urgently, you may use our 24/7 support chat and our team will be happy to assist you in this process.

Coraldize will open, maintain and operate one or more bank accounts and any funds related to the property management will be kept in these accounts. There will be no commingling of funds and, as manager, Coraldize will be the sole signatory of these accounts.

Of course! Every year, Coraldize will prepare an annual budget, accesible for you through the app. The annual budget will include a detailed breakdown of all costs related to homeownership, as well as an estimate of the next year's costs. Any difference between the budget and the actual costs will be balanced out by the end of the year.

We are comitted to provide full transparency at every step of your journey as a co-owner. For that reason, every single bill and payment is disclosed and available to you through the app. Annually, you will receive afinancial statements for the legal entity in which you are an owner, including balance sheet and statement of cash flows. Additionally, you can request cost statements with a clear breakdown of incurred expenses to our finance team at anytime.

Absolutely. All our properties are insured up to the highest standards in order to avoid any unpleasant surprises. To Coraldize, having a comprehensive insurance is an essential part of the co-owning experience so each co-owner can have peace of mind knowing the property is fully covered against potential calamities and other co-owners' acts.

Nothing lasts forever. Should you wish to sell your share, our sales team will assist you throughout the process offering your stake through our martketplace, finding a new co-owner and taking care of the paperwork.

As long as the potential buyer passes our vetting process, you can sell your share to anyone. Our team will review the buyer's profile in terms of criminal record and solvency, in order to ensure a smooth co-owning experience for the rest of owners.

In the real estate market, the timing of selling a home varies dramatically depending on the actual property. Since we hand-pciked each home to have the right set of attributes for the region, our homes are usually more liquid than the market. Additionally, our co-ownership model allows our real estate partners to sell more, faster and easier, which also fastens the selling process. So you can expect to sell your share in a resonably short period of time thanks to our marketplace and the liquidity of our homes and co-ownership model.

No one but yourself. You have the absolute freedom to sell your share at any price you decide. That being said, we have detailed insights on market prices in every region we operate and will be happy to recommend you a price within the current market standards at that particular time.

The costs of any real estate sale also apply to the sale of your share. This means that you will most likely incur in a sales commission to be paid to the real estate agency which assist you through the sales process, as well as closing costs. If you want Coraldize to take care of the sale process of your share, we apply a 3% commission on the sale price.

The same than with any other asset. The share will be transferred as instructed in the co-owners will or, in its absence, to his/her heirs. They heirs would then represent an ownership group with joint ownership of the ownership share.

Coraldize acts as the guarantor of the leon, therefore we will step in to fulfill the defaulting buyer's obligations on the defaulting co-owner's loan and seek to balance out such outsanding amount through our defaul process. This is one of our key promises to ensure a smooth co-owning experience.