How SmartStay™ scheduling works in a Pacaso co-owned second home

If you're considering flexible travel to different resort communities, However, Pacaso The comparison to What is Pacaso? The Pacaso second home ownership model is a revolutionary way to buy, own and Pacaso owners enjoy all the benefits of second home ownership without the hassle of maintenance, scheduling or resale. All of our homes are professionally designed, fully furnished and impeccably maintained, offering a consistent and luxurious experience every time.  Qualifying buyers can also take advantage of competitive What is a timeshare? A Timeshares are often sold through high-pressure sales meetings and have drawbacks, such as difficulty in reselling and exposure to scams.Timeshare owners also have little to no control over the underlying asset — they cannot replace management, and costs are not as transparent. Pacaso vs. timeshare: 5 key differences If you are looking for a way to own a luxury vacation home in a desirable location, you might be wondering about the differences between a Both options allow you to share the cost and use of a vacation property with others, but there are some key distinctions that make Pacaso a better alternative for many buyers. Here are five reasons to consider LLC co-ownership of a second home. 1. Each Pacaso listing is a one-of-a-kind second home Not just any home can be a Pacaso home. We seek out the best homes in the best locations — each one is different, and all have plenty of wow factor. Then our professional interior designers A Pacaso home is a luxurious home away from home. A timeshare is almost always a unit at a hotel or condo complex. Think cookie-cutter floor plans and typical hotel-style furniture. 2. A small group of co-owners enjoy the home Because we limit the number of shares per home to eight, you and (at most) seven other owners will have access to the home. (Only one owner will occupy the home at a time, of course.)  Plus, Pacaso homes are reserved for the exclusive use of owners and their guests — rentals aren’t permitted. We vet potential owners who agree to a common sense code of conduct to ensure they will treat the home as their own — because it is! Plus, you won’t feel like you’re “sharing” your home. We conduct a thorough inspection and cleaning after each stay so your home is pristine when you arrive.   A 3. You own real estate, not time With Pacaso, you own a real estate asset, not simply a block of time. Each owner holds their interest in an LLC that holds title to the home. That's real ownership, with the governance rights, transferability, and equity exposure that come with it. And because it's a real estate asset, its value will move with the market. With timeshares, you typically own the right to use the property for a period of time, not the property itself. There are no points systems, no resort affiliations, and no sprawling fee structures unconnected to the actual costs of running that specific home. Financing is offered through the timeshare company, often at a high interest rate, and some buyers secure funds through a personal loan or home equity loan. Since even the best timeshare property does not function like a real estate asset, you are likely to see the value depreciate, much like a new car begins to lose value once it’s driven off the lot. 4. You can use your home year-round Pacaso’s When you purchase a timeshare, you’re often locked into a fixed week or block of time, year after year. You may have a “floating week” option, but your choices may still be restricted to certain unit configurations or seasons. With either option, you can only check in on certain days, and you typically must book a full week.  There are exchanges and point-based systems that allow you to choose different resorts, but you’ll often pay extra for more desirable locations, and availability can be limited. If you have a fixed-week schedule, you may never get a particular holiday week if another owner already locked it in. 5. The resale process is streamlined You set the price you want for your Owners can list their shares directly through Pacaso's marketplace, where we provide pricing guidance based on current market conditions. Ultimately, each owner sets their own price, similar to a traditional real estate transaction. Pacaso acts as the listing agent, supporting the process and connecting sellers with qualified buyers. Owners also have the option to work with a third-party real estate agent if they prefer. Pacaso is the expert in co-ownership. We know these assets inside and out, from the scheduling and property history to the operating structure, and we process the sale on our own documents. That positions us better than anyone to facilitate the resale of shares in these homes effectively and efficiently for all parties. To ensure transparency, Pacaso maintains separate representation on the listing side and the buy side of every transaction. Our operating agreements make the structure of that relationship clear from the outset, and owners are always free to engage their own independent legal or financial counsel. We encourage them to do so. If any owner has a specific concern about a potential conflict of interest, we would absolutely engage with them on it directly. When multiple shares in the same home are listed, pricing can vary by owner. Buyers have full transparency into all available shares and can choose based on price or preferred calendar availability. As a result, outcomes are driven by a combination of pricing, timing, and buyer demand. Because our homes are thoughtfully selected and located in some of the most desirable second home markets, we've experienced strong buyer demand. By contrast, selling a timeshare can be extremely difficult, with an entire industry of timeshare exit companies charging fees to help owners exit. Pick the right choice for you Keeping your second home goals in mind while comparing Pacaso vs. timeshare opportunities can help you find exactly what you’re looking for. If you’re specifically looking for a luxury getaway and a place to make memories together with your family, browse through our

One of the biggest benefits of Pacaso second home ownership is the ease of spending time away from it all, with people you care about, in a familiar place you own and love.  To address some of the most common misconceptions about booking a stay in your second home, we asked current Pacaso owners to share their experiences with scheduling, and Pacaso CEO Austin Allison offered up insights into how owners plan their stays.  Myth: Co-ownership makes scheduling complicated Pacaso’s app, powered by our SmartStay™ system, makes scheduling easy, flexible and equitable. With two types of stays to choose from — general and short-notice — owners can see availability in real time and book their stay with just a few taps. SmartStay was created to streamline scheduling behind the scenes so owners have more control. Myth: Getting holidays is hard Owners of a one-eighth share can hold four general stays, including a “special date” holiday, and can enjoy unlimited short-notice stays throughout the year. Each owner is guaranteed one special date per share. If you don’t get your first choice of a special date in a given year, the 24-month stay calendar gives you the opportunity to request the date in the future.  Myth: It’s scheduled like a timeshare Pacaso’s scheduling system is responsive and real-time, enabling owners to enjoy their second home multiple times throughout the year. Timeshares often have fixed weeks or other scheduling limitations, relying on a draft process or priority ranking to secure a week in a hotel room or condo just once a year. Myth: The dates you want are hard to get We limit the number of co-owners to a maximum of eight, and owners can use their home in proportion to their ownership amount. Owners of a one-eighth share stay at their homes, on average, six to seven times per year, for about a week at a time. A diversified co-ownership group means people naturally gravitate towards different date preferences, and SmartStay makes it easy to book dates you want. Plus, SmartStay accounts for peak seasons, giving all owners an opportunity to book at least one peak season stay before any owner can book a second peak season stay. This ensures that the most desirable dates are not fully booked by just one or two owners. Myth: Scheduling can’t be spontaneous Sometimes you just want to get away from it all, which is why the app shows availability in real time — if the home is free to use, you’re free to book it as little as two days in advance. It’s flexibility at your fingertips, using SmartStay on the Pacaso app. Pacaso’s SmartStay system makes scheduling easy, flexible and equitable. Have more scheduling questions?

Your second home should be easy to enjoy, and that starts with scheduling. Pacaso’s innovative app, powered by our SmartStay™ technology, is a stress-free scheduling system that makes it quick and easy to plan time to use your home. Imagine waking up on a Wednesday and booking your special retreat for the weekend in real time. Or the peace of mind that comes with securing a special getaway well in advance. Pacaso makes it easy to enjoy the time you want, when you want it.  Flexibility is core to a great owner experience, says Pacaso CEO Austin Allison. SmartStay has its name for a reason — the custom platform is powered by the Pacaso app and doesn’t rely on draft booking or a ranking order to determine dates. Instead, using algorithms and systems to ensure equity, owners can see availability and secure their stay instantly. As a Pacaso co-owner, access to your home is proportionate to your amount of ownership. Owners of a 1/8 share, for instance, can generally expect to have access to 1/8 of the total available calendar time each year. On average, owners tend to stay at their homes about 6-7 times each year, for about a week at a time. Your actual usage may vary from year to year depending on your personal travel preferences. You have the flexibility to book stays from 2 to 14 nights in duration (or even longer if you own more than one share). In order to ensure equal access for all co-owners, back-to-back stays are not permitted. Owners of a 1/8 share can book Owners may hold up to one special date stay per share, and you can lock in your stay up to two years in advance. Once an upcoming special date enters the short-notice window, it can be booked as a short-notice stay and no longer counts as a special date or advance stay. The SmartStay system also accounts for Pacaso second homes are never available for rent. Of course, we know that one of the big benefits of having a second home is sharing it with friends and family even when you’re not able to be there, so owners are welcome to extend their homes to their registered guests.  If you ever need scheduling assistance, your dedicated Home Manager is available to answer questions or help with any scheduling needs. Want to learn more? Check out our

Thinking about a second home, but hesitating because of the math, the upkeep, and the “is co-ownership worth it?” questions?  With fluctuating interest rates, rising insurance and maintenance costs, and the general hassle of owning a property far from your primary residence, The catch is that a lot of people are still evaluating co-ownership through old, misleading mental models: random strangers, timeshare rules, rigid weeks, complicated logistics, and messy exits. That’s not how modern co-ownership works, and it’s definitely not Myth #1: “Co-ownership means sharing your homes with random people.” This isn’t an open-door situation; it’s a limited set of co-owners who each have a real stake in the property. And because everyone owns, the incentives are aligned: owners treat the home like an asset and a retreat, not a revolving rental. Want to see what that looks like in real life? Myth #2: “This is basically a nice timeshare.” The comparison between With Pacaso, each co-owner holds a When it comes time to sell, owners can list their interest on the open market rather than being limited to selling back to a resort company at unfavorable buyback terms. There are no points systems, no resort affiliations, and no sprawling fee structures disconnected from the actual costs of running that specific home. The proof is in the structure itself, and any prospective buyer who wants to understand the legal and practical distinctions in detail is welcome to walk through them with our team. Myth #3: “You’re stuck with fixed weeks every year.” Pacaso is built for real life — plans change, calendars shift, and flexibility matters. Owners use our proprietary Myth #4: “Home management sounds difficult with multiple owners.” You show up to a well-kept, ready-to-enjoy home. When you leave, you’re not stuck coordinating vendors, troubleshooting issues, or worrying about whether the place is being cared for properly. Part of what makes that possible is thoughtful design. Pacaso's co-ownership model is built for people who want the experience of a second home without the complexity of managing shared relationships directly. Most owners choose Pacaso precisely because they value privacy and prefer not to coordinate with co-owners on day-to-day matters, and the model is structured to make that the default. That said, hands-off doesn't mean left out. While Pacaso handles the day-to-day so owners never have to, the decisions that genuinely matter require owner input. Major choices go to a vote, with approval thresholds that scale with the significance of the decision, from a simple majority to unanimous consent.  On the financial side, owners review and must approve the annual budget before it takes effect. It's a structure designed to give owners exactly the right level of involvement: none of the operational headaches, and all of the meaningful control. Myth #5: “Co-ownership can be messy. What happens when someone wants out?” Selling is straightforward. Owners list their shares directly through Pacaso's marketplace, where we provide pricing guidance based on current market conditions; though each owner ultimately sets their own price, just as they would in a traditional real estate transaction.  Pacaso acts as the listing agent, supporting the process and connecting sellers with qualified buyers. When multiple shares in the same home are listed simultaneously, pricing can vary by owner. Buyers have full transparency into all available shares and can choose based on price or preferred calendar availability, so outcomes are driven by a combination of pricing, timing, and buyer demand. The numbers tell a compelling story. Across several hundred resales since inception, Pacaso shares have averaged 99 days on market, a meaningful advantage when you consider that luxury homes in the $5–10M range (the tier most comparable to Pacaso's portfolio) typically take 120–200+ days to sell, with significant variation by market.  Research from the Concierge Auctions 2025 Luxury Home Index found that ultra-luxury homes take roughly four times longer to sell than the average home, and that properties sitting beyond 180 days tend to close at around 20% below their original listing price.  Pacaso shares, by contrast, have averaged 6% price appreciation at resale, with 73% of all completed resales closing above the original purchase price.  That said, Pacaso markets its properties as luxury second homes, not investment vehicles, and we are deliberate about that distinction. Real estate values fluctuate, and we don't represent otherwise. The primary value of co-ownership is access to a high-quality property at a fraction of the cost of sole ownership, and we encourage buyers to conduct their own due diligence and consult independent advisors when evaluating a purchase. So, is Pacaso worth it? How Pacaso simplifies co-ownership Pacaso owners get the second-home lifestyle without the traditional second-home hassle. Instead of “booking weeks” or rolling the dice on vacation rentals, they build real ownership in a luxury home, alongside a small group of co-owners and a scheduling system designed for flexibility. Unlike Our focus has been on improving the fundamentals of the business: driving more efficient sales, maintaining disciplined inventory levels, and expanding our resale marketplace to enhance liquidity and long-term owner value.  We continue to see strong demand across both domestic and international markets, and we're scaling in a way that balances growth with financial discipline. As a Regulation A reporting company, we provide detailed financials through our public filings, and we're committed to ensuring all investors have equal access to information. If you want a place that feels like yours (because it is), with the freedom to use it throughout the year and the confidence that everything is taken care of, co-ownership through Pacaso is the easiest path. If you’re ready to take the smarter path to second-home ownership,

You’ve decided it’s time for a second home — a private retreat where you can escape, recharge, and make memories with loved ones. But traditional ownership can be overwhelming, with high costs, maintenance, and scheduling challenges. Short-term rentals are often impersonal, and timeshares can feel restrictive. So, how does Pacaso work? Pacaso reimagines second-home ownership through fully managed What is Pacaso? Pacaso, Each Pacaso home is held in a How does Pacaso work? Owning a second home can be expensive and stressful, with unpredictable maintenance and scheduling conflicts. Pacaso simplifies the process by combining true property ownership with Here’s how Pacaso co-ownership works at a glance: One of the most common questions prospective co-owners ask is: what exactly am I paying each month? The short answer is that Pacaso monthly fees cover everything it takes to maintain a luxury second home at the standard you'd expect, and then some.  There are no mystery line items, no surprise invoices. Just a clear, shared cost structure designed to make ownership as effortless as it is worthwhile. Pacaso budgets for each home's operating expenses annually, then breaks the total into 12 monthly payments. Costs are shared among co-owners on a pro rata basis, meaning you pay only for the share you own. Those payments are deposited directly into the property's LLC account, and Pacaso uses the funds to cover expenses as they arise. Every budget is fully customized for the property and grounded in actual spend, not estimates pulled from thin air. Each budget is reviewed and approved by the homeowners themselves before taking effect, so it always reflects the true cost of maintaining the home. And every quarter, expenses are reconciled. If a home comes in under budget, owners receive credits back. Pacaso monthly fees typically cover: Like any real estate market, operating costs for luxury second homes have evolved. Since 2021, the broader cost of owning and operating a second home in the markets where Pacaso operates has risen roughly 40–50% on average, driven by inflation and rising costs for insurance, labor, and services, particularly in high-demand destinations where skilled vendors are harder to source for large luxury properties.  Across the Pacaso portfolio, actual operating expense increases have tracked closer to 30% over that same period, generally in line with, but slightly below, broader market trends. The biggest individual drivers have been rising insurance premiums and property taxes. Insurance in particular has seen steep increases over the past five years, especially in states like California, Florida, and Colorado, where many Pacaso homes are located.  Carriers have exited markets, reduced coverage, and raised premiums across the board for residential properties, a well-documented industry-wide trend that has affected second-home owners everywhere, not just Pacaso co-owners. That said, Pacaso's property insurance costs have stayed essentially flat in the most recent renewals, even against the backdrop of significant industry losses, including those from the Malibu wildfires. This is a direct result of the strength of the Pacaso portfolio and the disciplined way homes are managed. As Pacaso's track record as a proven property manager has grown, that reputation has been reflected in more competitive coverage and pricing. Pacaso owners were already paying market-rate property management costs from day one. What has changed over time is not the total cost of managing a home, but where those fees go.  In Pacaso's early years, management was handled by third-party vendors whose rates varied and increased annually. As Pacaso scaled, it built an in-house property management team covering property management, accounting, legal support, and full home and vendor coordination, replacing those external providers with a consistent, comprehensive service. During the transition, Pacaso's internal fee was kept intentionally low and has since been gradually brought in line with market rates: approximately 20% from 2022–2023, 8% from 2023–2024, and 14% from 2024–2025. These adjustments represent a reallocation of existing costs from variable third-party vendors to Pacaso at consistent, market-rate pricing, not a net increase in what it costs to run your home. Now that the portfolio is fully transitioned, Pacaso has not raised property management fee tiers over the past two years, and the goal going forward is stable, predictable pricing, a meaningful improvement over the variable annual increases owners experienced under third-party management. Monthly owner expenses may be adjusted to reflect real changes in home costs, whether insurance, taxes, or other market-driven increases. When adjustments are necessary, they are communicated proactively, with backup documentation available upon request. Because the budget process requires owner approval on an annual basis, owners see and vote on cost changes directly. There are no surprises hidden in the fine print. Owners also have meaningful input into the significant decisions affecting their home. While Pacaso handles day-to-day property management on behalf of the LLC, major decisions require a vote of the owners, with thresholds that vary depending on the nature of the decision, ranging from a simple majority to unanimous consent.  On the financial side, Pacaso prepares a proposed annual budget and presents it to owners for review, and that budget must be approved by a majority of ownership interests before it takes effect. Owners aren't involved in routine operational matters, which is by design since that's much of the value Pacaso provides, but they retain real governance rights over the decisions that matter most. It's the kind of financial clarity and owner control that's rare in traditional second-home ownership, and one of the reasons co-owning with Pacaso simply makes sense. What makes Pacaso homes special? Pacaso homes are intentionally designed to feel like true retreats — not just places to stay, but places you genuinely look forward to returning to. Every detail is thoughtfully curated to deliver a consistent, high-end ownership experience across locations. Together, these elements create a second-home experience that is polished, predictable, and easy, so owners can focus on enjoying their time rather than managing the property. How do Pacaso alternatives compare? Many buyers unfamiliar with the Pacaso business model ask the same question: is Pacaso a timeshare? The short answer is no. But to fully understand how the Pacaso business model works, it helps to compare it to the most common second-home options available today. By combining true property ownership with professional management, flexible access, and financial transparency, Pacaso homes offer a modern, stress-free alternative to traditional second-home models — without the limitations of rentals or timeshares. Why is Pacaso the smart way to buy a second home? If you’re wondering, “how does Pacaso work for second home buyers?” The answer lies in its modern approach to luxury second-home ownership — one that blends the rewards of owning a vacation home with professional management, flexibility, and peace of mind. Rather than purchasing a second home on your own, Pacaso allows buyers to co-own a luxury property, sharing costs and responsibilities while still enjoying true, deeded ownership. Being a Pacaso owner is about more than just time in a house — it’s about enjoying a vacation home without the work. Owners benefit from: Owning a Pacaso share isn’t just about a property — it’s about creating a personal getaway filled with memories, comfort, and freedom.

Communities across the U.S. are experiencing troubling housing inventory shortages, and this problem has only intensified over the past year — particularly in second home communities. Buyer This supply and demand imbalance is understandably frustrating for local residents in search of affordable, moderately priced homes. It also creates a challenge for aspiring second home buyers hoping to unlock the dream of second home ownership and secure a higher-end home in these desirable communities.  Enter Pacaso.  Pacaso launched in October 2020 with a mission to make second home ownership possible for more people. Our fully managed co-ownership model is helping a broader pool of aspiring second home buyers purchase real estate in a second home community for ⅛ the price and enjoy the home throughout the year.  Because a fully managed co-ownership model is new to many people, we often encounter questions and misconceptions from neighbors and local community members about the potential impacts to their community.  To shed light on these misperceptions, here are common myths about Pacaso — and the reality behind our model and owners. Myth: Pacaso is a timeshare While Pacaso’s fully managed co-ownership service is new, “DIY” co-ownership is not. It’s common for groups of friends or family members to buy a second home together. While feasible, self-organized co-ownership can be a hassle to set up and manage on an ongoing basis. Myth: Pacaso will drive up home prices and take away homes needed by the local workforce Pacaso helps preserve affordable and middle-tier inventory by enabling eight aspiring buyers to instead co-own a single second home. Now, instead of applying their original budget to a lower priced whole home, Pacaso buyers can co-own a home at a higher price point. This redirects buyers toward luxury, above-median homes and consolidates buyer demand. Said another way, each Pacaso home removes eight second home buyers from the market as active shoppers. This reduces overall competition in the market, creating opportunities for local buyers shopping in for moderately priced homes. Austin Allison, Pacaso co-founder and CEO, explains Pacaso's positive impact on local housing markets. Myth: Pacaso’s math doesn’t make sense — cumulative shares add up to more than the whole home price Myth: Pacaso owners will negatively impact my local community Pacaso also supports greater diversity in the community by lowering the barriers to second home ownership. We’re proud that 25% of Pacaso’s owners are nonwhite or identify as LGBTQ+, and many owners are families who are now able to enjoy second home ownership for the first time. Myth: A Pacaso in my neighborhood will be disruptive   Myth:  Pacaso homes are the same as short-term rentals Community perspectives Here’s what local community members are saying about Pacaso’s positive impacts:  — — — —