- Share price
- Monthly home operating estimates
- Turnover services
Determining the share price
When you browse Pacaso listings, the sale price you see reflects the cost to purchase 1/8 ownership of the home. If you want more ownership, multiply that price by the number of shares you wish to purchase, up to four (1/2 ownership of the home).We determine the sale price of a share by adding these costs:- Whole home purchase price. This one is self-explanatory — it’s the amount Pacaso paid to acquire the home on the open market.
- Home upgrades and closing. We give each home a design makeover to create livable luxury — a beautifully and comfortably designed home, with all the amenities you need to enjoy your stay. This includes big-ticket items, like high-end furnishings and state-of-the-art appliances, and small details, like board games and handy kitchen gadgets. Our professional interior designers customize each home. We also calculate the real estate transaction costs (agent commissions, inspections and closing costs) and complete any necessary maintenance work to make sure the home is ready for its first stay.
- Pacaso service fee. This one-time fee covers the costs of buyer aggregation (finding and vetting qualified owners), LLC formation (including legal fees) and onboarding the home (installing and furnishing).
- Financing. For qualifying buyers who choose to finance up to 70% of their purchase through Pacaso, a financing fee will be assessed at closing.
Luxury second homes
Keeping the lights on
For many people considering a second home purchase, one of the biggest downsides is the burden of owning another property. If you only expect to use your second home a few weeks or months a year, you are likely renting it out or struggling to find reliable local vendors to help with maintenance issues — especially if problems arise while you’re away from the property.When you co-own with Pacaso, you share the cost of maintenance and property management with the other co-owners instead of fronting the bill by yourself as with a traditional whole home. A key benefit of Pacaso is that we relieve you of the hassles of a second home by managing the headaches of homeownership. Our property management team ensures your home is well-maintained and ready for your next stay, and we manage the bills, cleaning and maintenance, and even handle the property tax payments on your behalf. Because we do this legwork for you and other co-owners, you can always expect your Pacaso experience to be cost-effective, transparent and stress-free.Monthly costs
To get a detailed picture of ongoing costs, we budget for owner expenses annually and break the total into 12 monthly payments. Costs are shared between owners pro rata, based on the number of shares they own. Monthly payments are deposited into the LLC account, and Pacaso uses the funds to cover expenses as needed. Monthly expenses include:- Financing. This is an individualized expense based on your financing terms.
- Property management. Pacaso provides in-house property management services in most regions, and elsewhere we maintain strong relationships with experienced local property management companies who take care of the day-to-day needs of the home. Our strong, behind-the-scenes vendor management means you receive prompt and streamlined quality of service throughout your ownership experience. Pacaso maintains the LLCs for all homes, which includes resolving any disputes between owners, aggregating and managing billing, and keeping the LLC in good financial standing.
- Preventive and routine maintenance. Depending on the property, this may include landscaping, pool maintenance, snow removal, HVAC servicing, gutter cleaning and more.
- Technology systems. This provides access to service features in the Pacaso app, including our SmartStay technology that makes scheduling easy and equitable for every owner.
- Estimated home costs. This includes (gas, electric, water, sewage, garbage and internet/TV) to keep your home functional and ad hoc maintenance services, home essentials and utilities.
- Taxes and insurance. Pacaso manages the payments for property taxes and homeowners insurance premiums when due. We’ll provide an annual K-1 tax form for each owner. Learn more about ownership and tax reporting in a multi-member LLC.
- Reserve fund. As any homeowner knows, things break or wear out, so Pacaso maintains reserves in the LLC to cover those unforeseeable or longer-term expenses, such as a roof replacement.