Pacaso monthly management fees: what's included in every home

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.

When you’re traveling, where you Enter another option: a Pacaso second home. Here’s why co-owning a second home is a better option for your vacations than a The unexpected value of a Pacaso People have compared Pacaso to a hotel, Airbnb or a While Pacaso offers a unique form of co-ownership through an LLC, traditional co-ownership models like But it's not just about these practical advantages. A Pacaso offers valuable benefits that can only be experienced as an owner. Here’s what our owners have to say.   1. You can just show up and enjoy your home While hotels and short-term rentals can vary widely in quality, you can expect your Pacaso to be fully appointed and pristine — every time you return. Your home is taken care of by a 2. It’s easy to host your favorite people Making memories with friends and family is one of the most life-enriching parts of a vacation. And with your Pacaso, it’s easy to do just that. From outdoor kitchens and al fresco gathering spaces to open grand rooms and game rooms, Pacaso has the space, features and details to help the ones you love feel comfortable and enjoy quality time together.  — 3. You have the whole place to yourself (and your guests!) At your Pacaso, you always have the whole space to yourself. Your home belongs to you. Our homes feature large gathering spaces, and many also have spacious outdoor areas, patios, balconies and decks. Whether you want to relax, work from home or throw a celebration, you’ll have plenty of space for your whole crew. And it’s not just about space — unlike hotels and Airbnbs, all your guests are welcome at your Pacaso (even your dog!).  — 4. You get to live like a local When you own a Pacaso, you become part of a community. You’re not bouncing through different hotels, homes and places — you return to a neighborhood where every aspect is familiar, from your favorite place for breakfast to local museums. Being able to call a place you know and love home makes for a seamless (and special) vacation every time.  5. You won’t have to stress about your vacation Staying at your own Pacaso offers a different experience from the typical vacation. Rather than having to plan things to do and places to eat at, you have all the — 6. You have all the conveniences of home When you come to your Pacaso, there’s no need to pack the small things. Bathrooms are stocked with towels, hair dryers, a scale, magnifying mirror and basic toiletries. Your home has high-speed WiFi and 7. Every detail is luxurious One of the standout things about owning a Pacaso is having luxurious touches throughout your home, allowing you to vacation in style. In addition to our standard amenities and features, you’ll find high quality linens, Turkish towels, premium kitchen products (including Cuisinart, Le Creuset, Ninja and more), porcelain tableware and a Peloton in select homes. These are the small details that make your vacation special.  — Vacations (and memories) made better When you co-own a Pacaso, you enjoy hassle-free time at a place that feels like your home (because it is). You have the amenities and convenient experiences of a hotel, the wow factor of a luxury Airbnb, and the space and privacy of a vacation home — plus, all the benefits of home ownership. This is what sets Pacaso apart.  Ready to shift into vacation mode and start making lifelong memories? Check out our

If you’re considering a Pacaso purchase, you want to know the bottom line. Buyers who purchase a traditional whole home often have zero insight into both the upfront and long-term costs needed to maintain their home.  Rest assured, we’ve got you covered. When you co-own with Pacaso, you can expect both full transparency and fairness in the costs of buying and operating your home. We make sure buyers understand the cost breakdown from the get-go, so there are no surprises later on. Our structured pricing details the intricacies of managing a luxury home so that owners have a clear understanding of their financial commitment. Beyond showing where these costs are going, we also manage your home, so you don’t have to deal with any of the typical hassles of home ownership. Once you find a Pacaso home you love, a Crew member will walk you through the costs associated with the listing. In the meantime, if you’re trying to understand the whole financial picture, our pricing model covers three main areas: Here’s how we approach each cost area. 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: You'll also find curated listings that waiting to become fully furnished Pacaso homes. We use the same criteria to estimate the share price, but the price may change slightly when the home becomes available for co-ownership. For example, we would determine the exact cost of upgrades once we walked through the home with our design team. 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 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: Monthly owner expenses may change as needed to cover any increases in the actual costs of the home, such as insurance, taxes or other increased rates. Adjustments are made quarterly, and all cost statements are proactively communicated to owners and backup documentation is available upon request.   Turnover services To make sure the home is always stay-ready for the next owner, we also charge an individual turnover fee after each stay to cover cleaning, home essentials replenishment, inventory assessment and light functionality checks. Providing a hassle-free ownership experience Pacaso is not only committed to providing a stress-free ownership experience, but also to giving you a detailed picture of your bottom line so you know exactly where your money is going. We believe that transparency and meticulous management are the keys to making your second home ownership dreams a reality. With Pacaso, you can truly focus on what matters most: Enjoying your beautiful second home and creating lasting memories.

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:  — — — —

Owning a second home is a dream for many families, but it’s often complicated and a financial burden. Pacaso was founded to change that — making second home ownership more accessible, flexible, and enjoyable for modern buyers. What is Pacaso? By combining innovative technology, thoughtful design, and Pacaso is a technology-enabled real estate marketplace that reimagines second home ownership by making it more accessible, flexible, and manageable. Pacaso’s business model is based on How does Pacaso work? Buyers co-own This approach allows buyers to enjoy a turnkey, fully furnished vacation home at a fraction of the cost and hassle of full ownership, while still building potential equity in a desirable property. Whether it’s a mountain retreat, lakeside escape, or coastal getaway, Pacaso makes second home ownership more flexible, accessible, and stress-free. Who are the Pacaso founders? Pacaso was co-founded in 2020 by Austin Allison and Spencer Rascoff, two seasoned real estate tech executives on a mission to make luxury second home ownership more accessible. Together, they combined their expertise to create a co-ownership model that makes second homes more attainable, manageable, and enjoyable. In 2014, several years before Austin came up with the idea for Pacaso, he and his wife purchased a second home in Lake Tahoe. For Austin, co-founder and CEO of Pacaso, owning a second home had long been a dream—but making it a reality was financially challenging and logistically complex. “We were like most families who aspire to own a second home but could not easily afford it at the time,” he explained. “The only way we could make it work was to rent it out when we were not there. We felt privileged to own the home, but the stress and hassle of managing a rental to help pay the mortgage was burdensome.” This experience planted a seed in Austin’s mind: there had to be a simpler, more flexible way for families to enjoy second homes without the typical financial and management headaches. That idea would eventually grow into Pacaso, a company now redefining what it means to own a second home. How did Austin Allison build his real estate career? Austin grew up in Cincinnati in a working-class family. His father was a carpenter, and Austin was entrepreneurial from a young age — his very first venture involved building and selling birdhouses to families in his neighborhood. That early curiosity about creating and selling something tangible would foreshadow his future in business and real estate. Not long after, Austin’s interest in real estate began to take shape. He bought his first house at just 17 and earned his real estate license a year later, showing an early knack for understanding property and transactions. As his ambitions grew, Austin founded his first company, Dotloop, in Cincinnati. Dotloop, a platform that streamlined real estate transactions, quickly gained traction and attracted attention from industry leaders. Its success culminated in an acquisition by This combination of entrepreneurial spirit, early real estate expertise, and experience with innovative tech would later become the foundation for Pacaso, a company aiming to transform the way people access and enjoy second homes. What sparked the idea for Pacaso? It was before the acquisition of Dotloop that Austin purchased his second home. Even while running a successful business, Austin and his wife were thrilled to have a special place in a location they loved, a retreat where they could make memories and escape the everyday. Yet, the experience highlighted a gap in the market: second home ownership was complex, expensive, and often out of reach for many families. “I felt like I’d achieved a dream,” recalled Austin, “and I wanted to make that possible for more people.” That desire — to make owning a second home simpler, more affordable, and more accessible — became the seed for what would later grow into Pacaso, a company redefining the second home experience for families everywhere. How did Pacaso’s business model take shape? After leaving Zillow Group, this kernel of an idea started to develop. Austin and Spencer began brainstorming ideas for startups that would combine their shared passions for real estate, travel and tech innovation.  They gravitated toward the concept of making second home ownership more achievable for more people, of “right-sizing” ownership by allowing people to buy only the amount of a home that they’ll actually use, and enabling true ownership with far fewer hassles.  Austin believed that a When Austin discovered that most second homes are vacant 10-11 months each year, he also felt confident that co-owned homes, with a small owner group, would help keep second homes occupied year-round, bringing more consistent economic activity to local businesses.  Co-owners purchase the amount of home that meets their needs, and Pacaso handles all the management and maintenance — while communities benefit from invested owners who support local businesses. It was the better way of owning a second home that Austin had imagined was possible.   Why is the company called Pacaso? The story behind our name reflects the spirit of innovation at the heart of Pacaso. In case you’ve noticed the nod to a famous artist, it’s intentional. We are inspired by Pablo Picasso’s revolutionary thinking and the way he challenged artistic norms in the early 20th century. Picasso didn’t just create art — he reimagined how people could see and understand it, co-creating cubism, which brought together individual elements to form an entirely new and innovative whole. That approach resonated deeply with how we envisioned second home ownership. Just as Picasso combined pieces to create something bigger and more meaningful, Pacaso brings together multiple owners to create shared opportunities for owning a second home. By combining resources and rethinking traditional ownership models, we make it possible for more people to enjoy the benefits of a vacation home while reducing financial and logistical stress. “We chose the name Pacaso as a tribute to Picasso’s legacy of innovation, creativity, and challenging the status quo — values that continue to guide how we approach second home ownership today.” Watch the video to hear from Austin and learn more about the origin of Pacaso. How do I start my second home journey with Pacaso? Pacaso was created to make

To better understand the precise impact that Pacaso homes and their co-owners have on local communities, we asked the experts at EBP, a trusted economic research firm, to model and estimate the economic impact of Pacaso homes in five top second home destinations across the United States. Here’s what they found. Economic impact: Key findings Download the full report Pacaso homes bring more revenue to local markets “Our study found that Pacaso’s unique approach to housing co-ownership provides multiple benefits for the communities it operates in,” said Glen Weisbrod, Chair of the Board of Directors at EBP. “This includes additional household spending going to local stores and services as well as additional tax revenue, compared with other second homes. We also concluded that in all likelihood, by consolidating multiple owners into luxury homes, Pacaso is providing a new option to second homeowners without disrupting local housing markets.” Due to high demand and low inventory, many destination communities throughout the United States are struggling with high costs for single-family homes. “These results reinforce the problem with second homes today and how Pacaso’s co-ownership model can help,” said Pacaso Co-Founder and CEO Austin Allison. “The average second home sits empty for ten months out of the year, which is a wasteful use of single-family homes in destination communities. Through co-ownership, Pacaso concentrates demand into fewer, high-end homes and, because the homes are occupied eleven months out of the year, the owners spend more at local businesses.” Consolidating demand into top-tier properties Following the shift to work from home, there are higher levels of demand for homes in destination communities. This demand on top of short supply has driven up home prices to unprecedented levels. Instead of eight second home buyers buying eight separate median-priced homes, which drives up prices even further, Pacaso consolidates those eight buyers into just one luxury home, which alleviates pressure at the median-priced tier. At a time when housing affordability is a real concern to many families throughout the country, EBP’s research shows how Pacaso helps reduce competition for primary homes. The study describes the ‘mitigating effect’ that Pacaso has on local housing market dynamics: By offering out-of-town buyers a desirable alternative to buying a single-family home (that would sit empty for most of the year), Pacaso helps concentrate buyer demand into fewer, top-tier homes. A comparison of second home properties by EBP shows that Pacaso homes, which are typically high-end, turnkey properties in sought-after locations, on average cost six times more than the average second home and seven times more than the average year-round home. As a result, the company is unlikely to compete with middle-class or lower-income home buyers in the five markets EBP studied. In other words, Pacaso isn’t in the business of buying or competing for single-family homes or even typical second homes. Co-ownership means year-round use, more support for local businesses The average second home sits empty over 10 months out of the year. By comparison, the average Pacaso home is occupied nearly 90% of the year — almost 11 months. Since the average Pacaso home is occupied more months of the year than other second homes, their owners spend more money in the community. Based on an analysis of data from the Bureau of Labor Statistics on consumer expenditures, Census Bureau Data, and Pacaso home occupancy data, EBP found that Pacaso homes contribute nearly 10x as much to local economic activity than typical second homes. The average Pacaso home generates $48,390 in annual spending compared with a typical second home, benefiting local restaurants, stores and many other businesses. In Colorado, for example, the average second home contributes $4,960 in local spending per year. By contrast, a typical Pacaso home that is occupied almost all year  spends $54,610 in Colorado mountain communities like Telluride or Aspen – more than ten times as much. In practice, that means money spent at ski resorts, local ice rinks or in the local movie theater. People staying in their second homes year-round means more income for local businesses. Pacaso owners make significant tax contributions At Pacaso, we’re sometimes asked if Pacaso owners contribute to local taxes in the destinations in which we operate. The answer is a resounding yes. On top of paying all applicable property taxes, the study by EBP also found that Pacaso owners do more than support local businesses through consumer spending. Across the five markets analyzed, Pacaso owners contributed more local and state tax revenue than a typical second home owner, which benefits important local services such as schools, fire stations and local parks. In the San Francisco Bay Area, which includes top second home destinations like Napa and Sonoma, the average Pacaso home generates an additional $3,710 in state taxes and an additional $1,580 in local sales taxes compared to a typical second home. Methodology The study findings are grounded on a combination of sources including a Pacaso survey of home utilization, along with broader data sources on local real estate prices, household spending and tax rates.