What is a multi-member LLC?

Timeshares have been around since 1969, and sales show no sign of slowing, growing an average of 7.2% annually. This is mostly due to millennials becoming a significant portion of timeshare owners, with many seeking flexible and diverse vacation experiences. This steady growth shows people are continuing to be interested in this vacation style, especially now that there are way more ownership choices to fit all sorts of travel tastes. Our guide covers different timeshare types, including fixed-week, floating-week, and points-based systems. We'll also detail the costs of owning a timeshare, like the purchase price and maintenance fees, so that you can decide on your vacation goals. How do timeshares work? In a timeshare, multiple individuals (usually up to 52) collectively invest in and share the use of a vacation property Timeshares operate on It's crucial to understand that with timeshares, Real-world timeshare example Let’s say your family buys a timeshare property in If you vacation there for 10 years straight, you’ll have spent $38,000 ($25,000 initial cost + $1,300 annual fee x 10 years) plus any additional maintenance fees. Divided across 140 nights (14 per year), that adds up to $271 per night, which may be cheaper than the cost of the room if you book on the resort’s website. The potential savings via a long-term contract are why some people find timeshares so appealing. Types of timeshares There are a lot of timeshares out there, and not all timeshares or Shared deed timeshares Shared deeds divide ownership into smaller parts that reflect how long you can stay. A timeshare that’s divided into two-week stays would have 26 simultaneous owners, and it’s not uncommon for deeds to have a 52-part split, one for each week of the year. Shared lease timeshares Shared leases are like an apartment you’re paying to stay in a few weeks out of the year, but you commit to a certain period. The kicker here is that you don’t get a deed because How timeshares are split Now that you understand how the two types of contracts work, let’s look at the three main ways to divide time for timeshare properties.  To avoid a Ultimately, ask yourself: "Is this a place I want to stay year after year?" This can help you determine if a timeshare is right for you. Fixed weeks Fixed weeks mean you’re locked into the same week every year (say, the third week in April). While this offers the predictability of always having your vacation secured at a specific time, it also means your travel dates are rigid. Changing your fixed week usually comes with a hefty price tag in the form of an upgrade fee, if it's even possible, making it less flexible for those whose schedules vary from year to year. Floating weeks Floating weeks let you choose your week seasonally. This offers more flexibility than a fixed week, since you're not tied to the exact same dates every year. However, that flexibility comes with a trade-off: floating week systems are very competitive among timeshare owners, and the best slots during high season get snapped up quickly.  You'll often need to book far in advance to secure your preferred dates. If keeping your Points system Some timeshare properties operate with a points system, similar to an airline. You “pay” for your stay with points, giving you greater flexibility in how you travel. This means you're not restricted to a single property or a specific time slot each year.  Choosing an off-season, weekday stay or downgrading to a smaller room may cost fewer points overall, allowing you to stretch your points for more frequent, shorter getaways or save them up for something bigger. By contrast, you can also use points to upgrade components of your vacation, such as getting a bigger room or a better view — or even enjoy another How much does a timeshare cost? A timeshare's cost involves two main components: an initial purchase price and ongoing annual fees. The initial cost to buy a timeshare is In addition to the upfront payment, you'll be responsible for annual maintenance fees and any other charges outlined in your contract for the lifetime of your timeshare. These fees cover essential expenses such as maintenance, utilities and property taxes. They average around Timeshares vary in format, ranging from fixed-week to floating-week systems, and this can also influence the overall costs associated with them. Be sure to check the terms of your timeshare contract before signing. This document should outline all of the one-time and ongoing costs, including: Financing a timeshare Banks usually don’t loan money for timeshares, so buyers have few financing options other than the timeshare company itself. Little competition means some timeshare companies use high-pressure sales tactics on potential buyers, plus  14-20% interest rates — way higher than most This can significantly increase the overall cost of a timeshare, making it crucial for potential buyers to scrutinize the full financial commitment before signing any agreements. You might consider using a Pros and cons of timeshares You may fall in love with timeshares because they’re in destinations with lots to do. Some timeshares allow you to trade locations with other owners, use some of your nights to explore somewhere new or let your friends and family members use your nights.  Unfortunately, timeshares also have quite a few detractors. Annual fees and special assessments can be expensive, and if you decide it’s no longer the right choice for you, timeshares can be hard to sell on the secondary market. The timeshare industry also gets a bad rap for pushy sales tactics. Timeshare ownership also sidesteps most of the fiscal advantages that owning real estate normally brings, like equity, Exiting a timeshare If a buyer eventually decides to sell their timeshare, The second home difference One of the main reasons people choose a timeshare over another type of getaway — like Although With Here’s one last major difference: You’re guaranteed far more than a week’s stay — on average, owners of a 1/8 share in a And should you decide to sell, you can sell at any time, at the price you set. Learn more about how

If you invest in a fractional ownership of a holiday home, you'd have the right to use that property for a predetermined number of days or weeks annually. This approach allows individuals to enjoy the benefits of owning premium assets without bearing the full financial burden alone. In this post, you’ll learn what fractional ownership is, explore its pros and cons and get answers to some frequently asked questions. Understanding fractional ownership You’ll typically find fractional ownership for real estate like vacation homes. However, fractional ownership can also come into play for art, stocks and fashion. When owners purchase real estate assets with fractional ownership, they’re issued deeds representing their fraction of the property.  How fractional ownership works It may sound complicated, but fractional property ownership is pretty cut and dry. Here’s how it works: Types of fractional ownership There are two main types of fractional property ownership structures: an entity, like an LLC, and tenancy in common. Fractional ownership through an entity Some properties split ownership by using a structural entity like an Tenancy in common Tenancy in common (TIC) means each tenant holds an individual deed for a fraction or percentage of a commercial or residential property. However, no one person or company is in charge. With a TIC, individuals can own different percentages of the property but share it equally. Some TIC agreements are self-managed. Fractional ownership vs. timeshares Timeshares may be shared by as many as 52 owners (one person or group for every week of the year) while fractionally owned properties can have as few as two owners.  Benefits of fractional ownership Fractional ownership has many benefits, including shared maintenance costs and upkeep, among others. Here are some of those benefits: Expanded opportunity to own Fractional real estate investments allow you to own a portion of Deeded ownership Unlike a timeshare, fractional home ownership gives you a deed to a fraction of the property itself (sometimes called a Usage rights Unlike short-term Shared upkeep and maintenance costs Using the fractional ownership model, you're also responsible for only a fraction of the property's upkeep and maintenance. This includes taxes, HOA fees, repair bills, landscaping, utilities, Lower upkeep and maintenance burden Most fractional real estate ownership agreements include provisions for long-term property management, with owners deciding how to handle any issues. Maintenance of When you have fractional vacation home ownership through an entity, it will include preventative and Cons of fractional ownership Though fractional ownership has advantages, there are a few drawbacks to consider.  Fewer financing options Fewer banks provide mortgages for those looking to buy properties fractionally. You may need to shop around or consider other ways to Less flexibility and freedom All decisions about maintenance, repairs and decor must go through all ownership partners, which can be a hassle. If you want to sell a fractional property, the other fractional owners must approve the sale, depending on your agreement.  Some fractional property ownership clubs also require you to maintain an agreement with the club or property management company associated with the home, with no option for self-management or management outside the company. Limited travel opportunities While it's not unheard of to own shares in multiple fractional ownership properties in different locations, investing in fractional ownership also means investing in the location you’re going to revisit. Of course, you can still vacation elsewhere, but it's something to factor into your travel plans and budget.  Similar alternatives to fractional ownership Where fractional ownership falls short, Pacaso steps up. Pacaso's professionally managed LLC co-ownership model gives you all the perks and lower co-ownership costs with key differences that set it apart from fractional ownership resort clubs. Unlike fractional ownership resorts, Pacaso offers LLC

You’ve probably seen vacation home listings on Though you can book most vacation rentals for a few nights or weeks, each state has its own qualifiers for short-term rental properties. We’ll share the pros and cons, and additional considerations potential owners should bear in mind. Understanding short-term rentals Over the last 10 years, vacation rental brands like Seasonality, however, can also play a part in whether a rental will be in demand — meaning owners might have to give up personal stays during the most popular times of the year. Owners are also responsible for cleaning, coordination and maintenance to keep the short-term rental property in guest-ready condition. How short-term rentals work Many people who Because people on vacation will most often use short-term rentals, stays might vary from a few nights to several weeks. Sometimes, renters may lease them for as long as a month. Anything under six months is generally considered a short-term rental. Ultimately, your local jurisdiction defines what a short-term rental is for your area. What’s considered a short-term rental in each state? Local restrictions are a critical factor for anyone considering Owners should verify local regulations, zoning, taxes and licensing with their city or state government website for specific details about what qualifies as a short-term rental in their area before leasing their property. Types of short-term rentals Many The type of short-term rental you operate can affect how you operate your vacation rental business. It’s important to correctly categorize your vacation rental so that you pay the appropriate taxes and apply for the right zoning permits. Entire homes Airbnb and Accessory dwellings Accessory dwellings are sometimes known as in-law suites because they often take the form of cozy detached studios complete with an en-suite bathroom and comfortable furnishings — perfect for when the parents are in town. An ADU is generally on the same property as the primary residence and can potentially include a private entrance. Rooms Some jurisdictions allow homeowners to rent out a room in their primary residence as a short-term rental. The room can serve one or multiple guests at a time and can potentially include access to shared spaces like a kitchen or yard. Like an accessory dwelling, private rooms can sometimes include private entrances. Comparing long-term to short-term rentals Both short-term and long-term rentals are investment properties that homeowners can use to generate rental income. The length of the lease between owner and tenant often determines which type of rental agreement both parties will abide by. A long-term rental is generally a lease agreement for tenants who live at a rental property for at least 90 days, although some landlords require a minimum of 180 days or a full calendar year.  A short-term rental, however, is generally available to lease for less than 30 consecutive days. Compared to a long-term rental, owning a short-term vacation has its fair share of unique Considerations before investing in short-term rentals Short-term rentals require homeowners to abide by local vacation rental rules and regulations. There are several factors to consider before investing in a vacation rental. To operate a short-term rental, owners need to: A short-term rental investment property generates income from short-term leases. Short-term rentals can take the form of entire homes, ADUs or rooms within your primary residence.  Although vacation rentals can potentially yield rental income, they also come with a fair share of property management and tenant communication. If you’re more interested in relaxing than running a business, consider becoming a Co-owning a luxury second home has never been easier. Unlike vacation rentals, a

At Pacaso, we don't just provide you with a second home — we create a delightful living space that’s ready for you to start making memories the moment you arrive. Our From installing "It takes a lot of intricate thought and detail, so you can fully enjoy your second home without having to lift a finger," said Lisa Christensen, Pacaso Home Onboarding Manager. "We think of everything, and that's one of the biggest benefits of being a Pacaso owner." Ready to experience the Pacaso lifestyle for yourself? Browse our

Pacaso adds new listings to our website every week, with luxury homes in more vacation home destinations starting at $200,000. With these new listings, we offer two ways to find and buy your dream vacation home. You can shop from hundreds of turnkey “Available Now” listings in 40+ destinations ready for you to own today. Or, explore third-party listings in your favorite community and rally your friends, family and network to help turn it into a Pacaso home. "We're empowering every homebuyer to curate their own slice of paradise,” said Pacaso CEO and Co-Founder Austin Allison. “This enables more individuals to enjoy vacation home ownership without the hefty financial burden, as we revolutionize the real estate market and crowdsource demand to influence our growth.” This “crowdsourcing” process puts the power in your hands. Here’s how you can unlock a third-party listing for co-ownership and buy a luxurious home in your happy place. 1. Show your interest We’ve selected the top 5% of active third-party listings nationwide that meet our high standards for co-ownership based on their amenities and value. Spot one you love? Simply tap “I’m interested” when viewing the listing page. Then, share the home with friends, family and anyone who might be interested in co-owning with you. 2. Reserve your share Are you seriously considering a home? Let us know by reserving your share with a refundable $5,000 deposit. Your reservations tell us which listings to prioritize. Once we get enough reservations, our team of vacation home experts will further evaluate the home with an in-person walkthrough and engage the listing agent with comprehensive questions to assess if the home is a fit for co-ownership. This evaluation enables us to make a competitive offer to the seller on your behalf. 3. Place your $10K deposit Once a home passes our initial evaluation and receives enough reservations, we’ll put the home under contract to close. “Under Contract” means we’re in the final steps of our 4. Start owner onboarding After we complete closing, we’ll start preparing the home for co-ownership by 5. Enjoy your new home “Available Now” Pacaso homes are ready for immediate ownership. These turnkey homes have been meticulously furnished and redesigned into elevated living spaces. Limited opportunities are available. If you haven’t already, you’ll want to contact our team to purchase your share. If you have, your home is ready for you to start making lasting memories! The power is yours With Pacaso’s expanded collection, you can find the perfect vacation home among hundreds of turnkey listings or explore third-party options to transform into a Pacaso home. Ready to start your co-ownership journey?

Fractional ownership allows multiple individuals to purchase property together and share usage rights. It’s a common practice among people buying big-ticket items like second homes, Because each party is only responsible for a portion of the full purchase price, Unlike timeshares, fractional ownership via a method like While a lot of factors go into deciding if fractional ownership is right for you, one of the most important considerations is how you’ll pay for it. Here are a few options for financing fractional ownership of a second home.  Types of fractional ownership financing Cash Of course, paying for your second home in cash is the most straightforward option — there's no financing application, no contingencies and, best of all, no monthly mortgage payment or interest charges. However, not all buyers have the amount of cash required to purchase shares in a property without Mortgage While not every bank or credit union offers mortgages for fractional ownership purchases, an increasing number do. It’s important to note that qualifying for a second home mortgage can be more difficult than qualifying for your first mortgage. You may need a higher credit score, longer employment history and a down payment of 20% or higher.  If you’re buying in a new vacation community, the property developer may offer financing through a banking partner as a way to encourage purchases.  Home equity  If you already own a home and have a significant amount of equity, you may be able to tap into it to purchase your second home. There are three different ways to do this. Be sure to explore your options with your financial advisor, mortgage broker or accountant.  Financing a Pacaso second home Pacaso is a popular choice for fractional ownership of a vacation home. Our unique co-ownership model allows you to buy a ⅛ share or more of a fully furnished and professionally decorated second home in your Buyers can pay for their co-ownership share in a Want to find your dream vacation home? Explore our

What’s more exciting than finally finding your The good news is that luxury is subjective, so making a home feel like the most opulent escape means decorating it to your taste. Still, you can take cues from some luxury interior design principles to transcend your space.  With help from our interior design team, we’ve pared those luxury interior design principles down to nine areas to pay attention to, and, for good measure, created some mood boards to inspire every room in your home. Now, let’s dive into that life of luxury that’s so you. What is luxury interior design? Luxury interior design is considered a more decadent form of interior design, be it through fine art, high-end furniture or hyper-functional layouts. But it’s also subjective, since everyone experiences luxury a little differently.  — Pacaso interior design team All this is to say that luxury interior design aesthetics can vary, but core principles of luxury design remain the same. What are the principles of luxury design?  There are Without further ado, let’s dive into each. Remember that all of these luxury interior design elements can be tailored to your specific style and taste. 1. Sustainable materials Believe it or not, a Salvaged wood ceiling beams, reclaimed stained glass in a front door, and cork lampshades just scratch the surface of a few sustainable materials you can use in a luxury home — and feel good doing it. 2. Prioritized comfort Luxurious interiors don’t need to be so decadent that you can’t interact with them. In fact, it’s quite the opposite. A luxurious home prioritizes comfort above all. For example, ditch your upright guest seating for a classic chaise lounge, or turn an office corner into a tranquil meditation space complete with floor cushions and a yoga mat. 3. Functionality Contrary to popular belief, a spacious home doesn’t necessarily mean luxury. Instead, functionality should be at the forefront of any luxury interior design project to ensure seamless interactions with the space. — Pacaso interior design team For instance, every seat should have a tabletop nearby to place drinks, books or other items. Every sink needs a plush towel within arm’s reach. And a faucet installed above the stovetop can certainly streamline the cooking process. These simple but intentional placements make for a sophisticated approach to a room’s overall design. 4. Curated lighting Lighting may be one of the most important design elements of any home because it affects how we see the rest of the interior design, like shining light on a piece of special artwork or a rare houseplant.  Light fixtures can even be a piece of art in themselves. For example, if a room teems with natural light, opt for a more ornamental fixture (like a chandelier with fewer bulbs) that doubles as a statement piece or focal point in a room. 5. Various textures A variety of textures can bring depth to a room and make for a more well-rounded experience. Remember that sleek surfaces bring a modern mood to a space, while fluffy Moroccan rugs can achieve a sense of coziness. Pair them together in a luxury home’s interior and you have multiple sensory experiences. 6. Innovative color palettes Clean white walls are rarely considered the apex of luxury interior design. Ornate wallpaper and innovative color palettes, on the other hand, speak volumes of the restraint it takes to fill a space. Dark walls, for example, can bring a bit of drama and grandeur to a room. Mixing patterns and thematic color palettes can also create a customized version of luxury. Keep in mind that the colors you choose can also affect your mood. Bright yellows might be great for an area where you want to focus and be productive, while shades of blue are ideal for areas of relaxation.  7. Primary (and secondary) focal points A focal point guides your eyes across a room, often admiring the secondary focal points along the way. The idea here is that you don’t need to be overwhelmed with what to give attention to in a room — after all, that’s not a luxurious experience. Oftentimes, a room’s layout determines the focal point in the room, like a fireplace in the living room or an island in the kitchen. But you can create a brand-new point, too. Sculptures or other pieces of art are one such example. 8. Consistent room designs What could be more luxurious than living somewhere that feels totally personalized to your sense of style? Marrying your style across the entire home means ensuring you have a consistent flow of the same flooring, color palettes, hardware and art pieces in every room. 9. Indoor/outdoor living Nature is known to soothe the soul, so inviting outdoor elements inside your home — and vice versa — is an excellent way to lead a life of luxury.  Whenever possible, create a sense of indoor/outdoor living by capitalizing on the luxurious exterior views of your home. Let your floor-to-ceiling windows sparkle uninterrupted by skipping the window coverings.  — Pacaso interior design team If the views are lacking, bring the outdoors inside with a variety of plants and earth-toned design elements. Luxury decor tips for every room Now that you know the principles of luxury interior design, it’s time to apply them to every room in your home — or second home.  Follow our Luxury kitchen design Luxury spaces with a high amount of foot traffic need to be as functional as they are beautiful. Depending on the layout and Prioritize the comfort of these spaces where people will be relaxing while enjoying a meal. This means being intentional about the seating materials and mood lighting you use.  Ditch the can lights for pendant lights that feature warm bulbs to transform kitchen island counter seating into a high-end bar.  Luxury living room design A luxury living room can be completely dedicated to lounging in maximum comfort or serve a dual purpose. Your living room can also function as a library, home theater or office space.  — Pacaso interior design team Due to the dynamic nature of lounging spaces, this type of room is the perfect candidate for a focal point feature, like a custom coffee table or sculpture. Luxury home office design If your luxury home office is less about work and more about recreation, then make custom cabinetry showcasing your rare collectibles or hobby projects the focal point of this room. — Pacaso interior design team Luxury bedroom design Luxury bedrooms are more than just a place to rest after a long day. Needless to say, comfort should be the priority of this space. However, luxury bedrooms can also benefit from other design principles like curated lighting and mixed textures.  If you want to feature a glamorous dressing parlor within your luxury bedroom, for example, consider differentiating that area with wallpaper or a chic room divider. To further separate the two areas and create contrast, play with softer textures for your bedding and the surrounding space. Luxury bathroom design It’s entirely possible to turn a luxury bathroom into a Luxurious materials like wood and stone also help add an indoor/outdoor feel to your bathroom. Sustainably sourced water-resistant materials like teak are great choices for bath tables and shower benches. Transform your counter space into a timeless vanity by incorporating natural lighting and a personalized storage system for your skincare products. Invest in high-quality towels for a luxurious finishing touch to your daily hygiene routine. Luxury interior design is all about what creature comforts are timeless to you. With these principles and mood boards in hand, you’re on the path to leading a life of luxury, no matter the size or location of your home or

As you browse Pacaso listings, you may notice this repeated phrase: “The home comes fully furnished and professionally decorated.”  One standout feature of a Pacaso is the But a Pacaso is more than just a pretty face! Beyond the visible design elements, our homes are supplied with all the necessities and special touches that make an owner’s stay relaxing and easy. And for families with children or grandchildren, we've made sure our Family-Friendly Second Homes™ are equipped with all the essentials for a comfortable stay — we want you to spend less time packing and more time having fun! Here’s a peek inside the cupboards and closets of our Pacaso homes.  Dining delights Whether your idea of a dream dinner is a homemade multicourse feast or takeout by the pool, we’ve got you covered. Kitchens are stocked with all the food-prep essentials and then some, including an array of high-end pots and pans, pizza stones, mixing and measuring sets, German cutlery, and all manner of bakeware. Plus, countertop appliances like multicookers, stand mixers, blenders and more make it fast and easy to whip up your favorite treats.  When you don’t feel like cooking, you can serve fresh bakery croissants or a charcuterie assortment in style, using our sophisticated white porcelain china and Portuguese flatware.  For your morning pick-me-up, choose from Nespresso or standard brew (or use the electric kettle for a spot of tea). When winding down, our barware collection caters to nearly every preference, whether you bring along red, white, bubbly or create a custom cocktail. Bed, bath and … BBQ Beds are fitted with quality linens, luxurious duvets and assorted pillows. Bathrooms are stocked with plenty of towels, hair dryers, a scale and magnifying mirror, and basic toiletries like shampoo, conditioner, body wash and soap.  For homes with outdoor entertaining spaces, you’ll find gas barbecues, fire pits, outdoor drinkware and dinnerware and patio furniture. If the home has a pool, we even supply floaties for added fun, while Work and play If you need to catch up on work during your stay, you can count on high-speed internet throughout the home, a charging station and, in many homes, a dedicated work space. Once you’ve logged off for the day, sit down with the family to enjoy one of the provided games, like Jenga, backgammon or cards. If you’re looking for more modern forms of entertainment, never fear — all Pacasos have smart TVs and streaming services so you can catch a show, tune into your favorite sporting event or keep the kiddos entertained while you enjoy a quiet moment watching the sunset with a glass of wine. Speaking of little ones, our Family-Friendly Second Homes are equipped with kid-friendly dinnerware and cutlery, a high chair, booster seat and Pack ‘n Play. And homes in beachfront and warm climates come equipped with beach chairs and pool floaties for bonus fun in or by the water. Household necessities Need to clean up some spilled spaghetti sauce? Or change a light bulb in the hall? While we focus on luxury living, we’ve also prepared our homes for those less-than-glamorous aspects of daily life. Mops, brooms, cleaning supplies, extra light bulbs and batteries, an iron and steamer, and even a mini-toolkit are provided to ensure you have what you need, when you need it, to handle the little details of your stay.  See the full list of