How to finance fractional ownership

For anyone seriously considering a These are the right questions to ask. In most shared-ownership arrangements, especially older Pacaso designed its scheduling system specifically to solve this. It's called SmartStay™ lives inside the Pacaso app, so owners book stays the way they already book travel. No phone calls, no emails to a property manager, no negotiating with other owners. An owner opens the app, sees what's available, and books the dates they want. The calendar updates in real time. That transparency, where everyone sees the same calendar under the same rules, is what makes shared scheduling work in practice. It removes the guesswork and the awkwardness of having to coordinate directly with people you may barely know. SmartStay™ offers two types of stays, and both appear in the same calendar under the same transparent rules: On average, one-eighth share owners stay at their homes about six to seven times per year, for roughly a week at a time. For more on how shares and ownership work, see SmartStay™ opens bookings on a rolling 24-month window. That timeline matters. It gives Pacaso owners an opportunity to think ahead, to plan around school calendars, extended-family trips, international travel, or milestone celebrations, without gambling on last-minute availability. A second home works best when it fits neatly into real life, and a two-year planning horizon makes that possible. Peak season is where most co-ownership models break down. At Pacaso, high-demand dates (major holidays, school breaks, local event weekends) are handled through SmartStay™'s built-in peak-season logic. Each owner is guaranteed one special date holiday per share. SmartStay™ then ensures every owner has the chance to book at least one peak-season stay before any one owner can book a second. That means the most desirable dates aren't fully booked by just one or two co-owners. It's a structural fix, not a hope-for-the-best policy. If you don't get your first choice of a special date in a given year, the rolling 24-month calendar gives you the opportunity to request that date in the future. Plans change. Sometimes the best weekend of the month reveals itself on a Thursday. SmartStay™ allows owners to book short-notice stays as little as two days in advance, whenever the home is open, with no penalty and no extra complexity. That flexibility, on both ends of the planning horizon, is a defining difference between modern co-ownership and the rigid calendar systems that came before it. Pacaso limits the number of co-owners to a maximum of eight, and owners use their home in proportion to their ownership share. With a smaller, diversified group of co-owners, people naturally gravitate toward different date preferences. SmartStay™ then layers in peak-season fairness on top of that, so the most desirable dates are spread across the group rather than dominated by one or two owners. Timeshares often rely on fixed weeks, draft processes, or priority rankings to assign a single stay each year, usually in a hotel room or condo. Pacaso's scheduling is responsive and real-time, lets owners enjoy their home multiple times throughout the year in a fully owned luxury property, and shows availability the moment it opens up. For a deeper look at the structural differences, see For Pacaso owners, scheduling isn't just a feature. It's the mechanism that makes shared ownership feel like ownership. Pacaso allows buyers to purchase a share (1/8 to 1/2) of a Scheduling is usually the invisible make-or-break piece of co-ownership. Pacaso built SmartStay™ to make that piece visible, fair, and flexible, so that the most important decisions about a second home are about when to pack the car and go, not about logistics. If co-ownership sounds like it might fit your travel and family schedule, start by Have more scheduling questions? You can also browse Pacaso's full

What are short-notice stays? Short-notice stays are bookings made 2 to 30 days before your planned arrival date. If your home has any open dates in that window, you can book them on the spot — no waiting, no coordination with other owners, and no deduction from your advance stay count. The feature was built for real life. Plans don't always come together weeks or months in advance. Sometimes an unexpected day off opens up, a last-minute trip with friends comes together, or you simply feel like spending more time at your home than you originally planned. Short-notice stays make all of that easy. How do short-notice stays work in the Pacaso app? The Pacaso app shows your home's calendar in real time. Any dates that are open and fall within the short-notice window (2 to 30 days from today) will be available to book instantly, the same way you'd book any other stay. Here's how to do it: That's it. No approval process, no waiting for other owners to respond, and no phone call required. Once you confirm, the stay is on your calendar just like any other booking. If you're already mid-stay and want to add nights to your existing reservation, the same process applies. As long as the adjacent dates are open and fall within the short-notice window, you can extend your trip directly in the app. Do short-notice stays count toward my advance stay limit? No. Short-notice stays are completely separate from your advance stay allotment. As a 1/8 share owner, you can hold up to 6 advance stays at a time, bookable up to two years out. Short-notice stays sit outside that system entirely, so booking one doesn't affect how many advance stays you have available. This means short-notice stays are in addition to your regular planned time, not a substitute for it. Can I extend my trip using a short-notice stay? Yes, and this is one of the most popular ways owners use the feature. If you're already staying at your home and there are open nights before or after your existing reservation that fall within the short-notice window, you can add them on at no additional booking cost. This is especially useful when you're not quite ready to leave, or when a travel disruption pushes your schedule. Rather than scrambling to rebook, you can simply check the app and extend if dates are available. Keep in mind the back-to-back stay policy: to ensure all co-owners have access to the home, a gap equal to the length of your previous stay is required before your next separate stay begins. However, extending a current stay is different since you're adding nights to an existing booking rather than scheduling a new one. If your stay is within 48 hours of arrival and you want to adjust dates, your dedicated Pacaso Home Manager can also help. Can I send guests to my home on a short-notice stay? Yes. If you've booked a short-notice stay but can't attend yourself, you can invite registered guests to use the home in your place. This works the same way as any other stay. Guests must be registered in the Pacaso app, and the home will be ready for their arrival just as it would for yours. This makes short-notice stays particularly valuable for owners who want to share the home with family or friends, even when last-minute plans prevent them from being there in person. What's the difference between short-notice stays and advance stays? Here's a quick breakdown of how the two types of stays compare: Both stay types are booked through the Pacaso app and are subject to real-time availability. The key distinction is that advance stays let you plan and secure time well ahead of your trip, while short-notice stays give you flexibility closer to the date. Are short-notice stays truly unlimited? Yes. There is no cap on the number of short-notice stays you can book. As long as dates are open within the short-notice window, any owner can book them, regardless of how many short-notice stays they've already taken that year. That said, availability is first-come, first-served. If another co-owner books a date before you, it's no longer available. The best way to take advantage of the feature is to check the app regularly. Because the calendar updates in real time, open dates become visible as soon as they're released or canceled. What if the home has unsold shares? The short-notice booking window is slightly different for homes that still have unsold shares. For these homes, the window is 2 to 7 days before arrival (rather than the standard 2 to 30 days). This narrower window reflects the fact that the home's calendar is less constrained during the sales process. Once all shares are sold and the home is fully co-owned, the standard 30-day short-notice window applies. What are tips for making the most of short-notice stays? Short-notice stays reward owners who stay in the habit of checking their home's calendar. A few practices that help: How do short-notice stays fit into the Pacaso ownership experience? Short-notice stays are one part of Pacaso's broader SmartStay™ scheduling system, which is designed to make second home ownership feel genuinely effortless. The full system includes: Together, these tools give owners both the ability to plan ahead with confidence and the freedom to act on impulse, which is, as Pacaso CEO Austin Allison puts it, "reflective of how people actually live and travel." Here's what current owners have said about the experience: "I think the ability to look far to the future but also have the flexibility for last-minute stays is really awesome with the app, because it enables you to make the most of the time you have and really enjoy the property." — Dan, Pacaso owner "The app is so ridiculously easy. You can do your scheduling, you can cancel and change — it's really flexible, and if there are extra nights, you can just book it on the spot." — Gayle, Pacaso owner "I think the app is super easy to use, and I can just look and see what's available and we plan our trips around it." — Elizabeth, Pacaso owner If you're considering

If you are looking to buy a second home, you aren’t alone. According to Yahoo Finance, nearly These shared ownership models help you buy a portion of a property, matching your contribution to your actual usage. Below, we compare Pacaso co-ownership alongside several other notable companies to help you find the perfect fit for your second-home dreams. Pacaso Pacaso provides turnkey designer homes, with everything from high-end furniture to silverware already set up and waiting for you. You will find Pacaso listings located in popular vacation destinations around the world, such as When you buy through Ember, you and up to seven other people own a deeded share of a luxury house through a property-specific LLC. Ember’s major selling point is its Ember Flex option that lets you rent out your unused weeks to offset your costs. Like other premium platforms, Ember has a completely turnkey experience. You simply arrive, enjoy your vacation and leave the typical homeownership duties to their dedicated management team.  Fraxioned operates under the co-ownership model and works well for buyers who want a desert oasis in places like Moab or St. George.   To help offset ownership costs, Fraxioned lets you rent out your space when you’re not using it. The platform also has a dedicated property management team to handle all the guest bookings and maintenance tasks on your behalf. While Kocomo originally launched as a direct property seller, it has since evolved into a global marketplace that aggregates listings from top fractional-ownership and co-ownership providers.  Because it functions as an aggregator, you get the advantage of comparing different ownership rules and financial structures before committing to a specific property.  August offers a different take on fractional ownership by giving you a share in a collection of luxury homes, not just one. When you buy in, you own equity in a group of four to five high-end properties across Europe, so you can split your time between destinations like the French Alps, Tuscany, and the Riviera. August handles everything, from buying and renovating to maintaining each home, so every property meets the same high standards. The result is a consistent, comfortable experience, with each home still reflecting its unique location. Ancana is best for buyers who want ownership in high-demand vacation destinations in Mexico and the U.S. The company takes care of the property maintenance, cleaning and administration so the house is ready when you arrive. If you do not plan to use all of your weeks, the platform lets you rent out your unused days to generate income that offsets your costs. They also integrate with global exchange networks, giving you the option to swap your time for stays in thousands of other properties around the world.  Elite Alliance is an early leader in the private residence club model. Instead of buying timeshare points, you own a deeded share in a specific luxury resort home, combining shared ownership with high-end amenities. A key benefit is its global exchange program, which lets you trade unused weeks for stays at other luxury homes and yachts in its network. The experience is fully managed, with staff handling cleaning, maintenance, and pre-arrival setup. Benefits of co-ownership and fractional ownership When deciding whether co-ownership or fractional ownership is right for you, it is helpful to weigh the Here's a look at the biggest benefits you can expect when buying into a shared property: How to choose which co-ownership or fractional ownership company to worth with Deciding between the various co-ownership and fractional ownership options comes down to what best fits your lifestyle and financial goals. To make the right choice, it helps to narrow down your core priorities before you fall in love with a specific property.  Here are a few essential questions to ask yourself as you compare different platforms: Choose co-ownership with Pacaso Whether you are interested in a domestic mountain retreat or are exploring the unique advantages of

At some point, most second-home owners ask themselves: is this property still working for me? If you're carrying the full cost of a luxury home but only using it a fraction of the year, selling a second home(or at least part of it) could be the best financial decision you make. That said, selling a second home isn't quite like selling your primary residence. There are tax considerations to work through, timing decisions to weigh, and a different kind of buyer to find. This guide walks you through all of it and shows you why Pacaso offers an exit (or partial exit) that a traditional listing simply can't. Before you list your second home, it helps to get clear on what you actually want out of the process. A few questions worth considering: Getting clear on your goals upfront will shape not just whether to sell, but how and whether Pacaso's model makes more sense than a traditional listing. This is where selling a second home gets meaningfully different from selling your primary residence and where a lot of owners get caught off guard. The tax implications of selling a second home are specific to your situation, so it's always worth a conversation with a qualified tax advisor before you do anything. If your second home is in The bottom line: California second-home sellers should be working closely with a tax professional who knows the state's rules well before finalizing anything. South Carolina has quietly become one of the most desirable second-home markets on the East Coast, with destinations like As always, a South Carolina-based tax advisor will give you the most accurate picture for your situation. When you sell a second home for more than you paid, that profit is a capital gain.  With no exclusion available, it's fully taxable. Here's how the math works. One more thing worth knowing: a Pacaso resale involves transferring an It's one of the most common questions second-home owners wrestle with, and the honest answer is: it depends on what you're optimizing for. Rather than choosing between holding the entire home or walking away entirely, Pacaso lets you sell a portion of your second home, freeing up equity and handing off the hassle, while keeping the ownership share that still fits your lifestyle. You get time in the home you love, without everything that comes with owning it outright. For owners who are emotionally attached to the property but tired of what full ownership demands, this middle path may be most satisfying. If you're selling a second home with plans to buy another, there are a few things to keep in mind before you assume the process works like it might for a primary residence. France is home to some of the world's most sought-after second-home markets like the Côte d'Azur, the Dordogne, the most beautiful corners of Paris. If you own property there and are thinking about selling, the tax and legal framework is quite different from a U.S. transaction. When you list a luxury second home on the MLS, you're essentially hoping the right buyer finds you. When you list with Pacaso, that buyer is often already there. Pacaso has completed over 400 resales and maintains an active pipeline of pre-qualified, high-net-worth buyers who are specifically looking for co-ownership opportunities in premium destinations. These aren't casual browsers. They're motivated buyers who have already decided that luxury co-ownership is the right model for them, and who are ready to move when the right property appears. That changes the whole dynamic of selling a second home. Instead of casting a wide net and waiting, Pacaso matches your property with buyers already in their system,  while also listing on the local MLS to maximize reach. You get the depth of a dedicated buyer network plus the breadth of the open market, backed by Pacaso's brand recognition in the luxury second-home space. The numbers speak for themselves: A 99-day average only happens when there's a ready, waiting buyer pool. And 73% of resales closing above the original purchase price tells you these aren't distressed or reluctant transactions; they're competitive ones. For context, research from the Concierge Auctions 2025 Luxury Home Index shows that ultra-luxury homes can take roughly four times longer to sell than the average home. Properties that sit beyond 180 days often close at a significant discount. Pacaso's resale track record looks quite different. On the open market, your second home competes with every other luxury listing in the area. Buyers are weighing all kinds of options: whole homes, vacation rentals, properties across a wide price range. Pacaso's marketplace attracts a different kind of buyer. These are high-net-worth individuals who have specifically chosen the That means: This buyer pool doesn't exist anywhere else. It exists because Pacaso built it. At every stage, Pacaso isn't just waiting for buyers to appear. They're actively matching your property with people from their existing pipeline, leveraging their marketplace and MLS presence, and using their brand recognition in luxury second-home destinations to drive real, qualified interest. Not every property qualifies, but if your second home is genuinely high-end and well-located, it may be a strong fit. Here's what Pacaso looks for: If that sounds like your property, Pacaso's team can assess fit quickly and walk you through what comes next. Right now, there are buyers in Pacaso's pipeline actively looking for luxury co-ownership opportunities in premium markets. If your second home is the right fit, those buyers could be waiting for exactly what you have.

Understanding short-term rentals You’ve likely come across vacation home listings on Over the last decade, short-term rentals have grown immensely in popularity. Brands like Homeowners are drawn to short-term rentals for their income potential, flexibility, marketing automation, and tax benefits. Unlike long-term rentals, these properties can also serve as personal retreats. Seasonal demand may affect availability, and during peak periods, owners might need to adjust personal use. Additionally, keeping a property guest-ready requires attention to cleaning, coordination, and maintenance. How do short-term rentals work? Many people who Short-term rentals typically accommodate stays ranging from a few nights to several weeks, and in some cases, up to a month. Properties rented for longer than six months are usually considered long-term rentals, while anything shorter generally falls under the short-term category. Local regulations ultimately define what qualifies as a short-term rental in each area. When comparing a vacation home vs. short-term rental, the distinction is clear: a vacation home is primarily for personal enjoyment, while a short-term rental is managed as an income-generating investment. Understanding this difference helps potential owners make informed decisions about property use, financial planning, and regulatory compliance. What is considered a short-term rental in each state? Local restrictions are a critical factor for anyone considering What qualifies as a short-term rental by state? 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. What are the different types of short-term rentals? Short-term rentals generally fall into three main categories: entire homes, accessory dwelling units (ADUs) and individual rooms. The type of property you list can influence how you operate your vacation rental business, including tax obligations and zoning requirements, so accurate categorization is essential. Entire homes Airbnb and Accessory dwellings Also called in-law suites, ADUs are often detached studios on the same property as the primary residence. They typically include an en-suite bathroom, comfortable furnishings, and sometimes a private entrance — perfect for guests looking for a cozy, independent space. Individual rooms Some jurisdictions allow homeowners to rent out a room in their primary residence as a short-term rental. The room can accommodate one or more guests and sometimes offer access to shared spaces like a kitchen or yard. Like ADUs, some private rooms can include separate entrances for added privacy. Short-term rental vs. long-term rental: what’s the difference? 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, What should I consider before investing in short-term rentals? Investing in a short-term rental can be a lucrative opportunity, but it comes with responsibilities that go beyond simply owning a second home. There are several factors to consider before investing in a short-term rental. To operate a short-term rental, owners need to: While short-term rentals can generate income, they also demand time, effort, and organization. If your priority is relaxation rather than running a business, Should I buy, co-own, or rent a vacation home? Short-term rental: Buying a whole second home: Co-owning a vacation home: Which option works best depends on… How does Pacaso compare with luxury short-term rentals? Instead of renting a vacation home night by night, Pacaso offers co‑ownership — a way to enjoy a luxury second home while also building equity. Why Pacaso stands out Compared with other vacation home options, Short-term rentals provide flexibility and variety, but they come with unpredictability: changing hosts, inconsistent quality, and no long-term return. Pacaso combines privacy, stability, and a true “home away from home” experience, letting you enjoy the perks of luxury second-home ownership without the full-time operational responsibilities. Co-owning a luxury second home has never been easier. Unlike vacation rentals,

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,

What is a Pacaso resale? A Pacaso resale occurs when an existing owner sells their ownership interest in a Pacaso home to a new buyer. While this differs from purchasing a new Pacaso share at initial launch, the ownership structure remains the same. All Because of this model, selling a Pacaso share is simpler than selling a traditional home. There’s no need for staging, showings, or home prep, no due diligence period, and no title or escrow process. Ownership is reassigned through the LLC, allowing for faster, more streamlined closings. Resales are a built-in feature of Pacaso’s How does the Pacaso resale process work? What does Pacaso’s role in the resale look like? Pacaso facilitates the resale process by helping source buyers, coordinating marketing efforts, and managing the administrative and legal steps required to complete the transaction. This support significantly reduces the friction typically associated with selling real estate. 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 within our marketplace, supporting the process and connecting sellers with qualified buyers. Owners also have the option to work with a third-party 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. How long does a Pacaso resale take? Pacaso homes typically close much faster than traditional home sales.  Factors such as buyer financing and market demand may influence the exact timeline. How has Pacaso resale performed? According to RCLCO’s findings, from 2021 through 2024, shares of Pacaso homes achieved an average Compound Annual Growth Rate (CAGR) of 9.7%—4.7% higher than traditional luxury homes in the same markets. In several luxury destinations, from California to the Carolinas, Pacaso resales have consistently outperformed regional averages. From 2021 through 2024, Pacaso share appreciation exceeded market benchmarks in each destination, with Pacaso resales averaging a 10% overall gain. From inception through the end of 2025, Pacaso has completed over 400 resales. Across those transactions, the average time owned was 2 years, the average time on market was 99 days, and the average resale share price appreciation was 6%. 73% of all over 400 resales appreciated in value. Pacaso shares sell faster and perform better than comparable luxury homes. While the widely cited luxury median of 78 to 89 days on market includes homes starting around $1M+, isolating the $5M to $10M tier where Pacaso homes compete shows 120 to 200+ days as more typical.  What are the fees and costs associated with a Pacaso resale? Compared to traditional real estate, resale-related costs are streamlined. Overall, the Pacaso resale process eliminates many of the unpredictable expenses associated with selling a traditional home. What are tax considerations for Pacaso resales? Selling a Pacaso share may result in capital gains, depending on your individual situation. Because Pacaso resales involve the transfer of an LLC membership interest rather than a traditional deeded sale, tax treatment may differ from a standard home sale. This information is provided for general guidance only. Owners should consult a qualified tax professional to understand how a Pacaso resale may impact their personal tax situation. What are other options for Pacaso owners? If your needs change, selling your entire share isn’t your only option. Owners who find they’re using less time than anticipated can right-size their ownership by selling a portion of their interest. A selldown follows the same process as a resale, allowing you to retain partial ownership while freeing up capital and flexibility. Is Pacaso a good investment? On average, Pacaso homes have appreciated in value, often outperforming traditional luxury homes in their markets. With a built-in resale marketplace and streamlined ownership transfer through the LLC, selling a Pacaso share is faster and simpler than a traditional second home, providing liquidity and flexibility. Beyond potential financial gains, owners enjoy a Pacaso markets its properties as luxury second homes, not as investment vehicles, and we are deliberate about that distinction. Our materials focus on the lifestyle value of co-ownership, access to a high-quality property at a fraction of the cost of sole ownership, rather than projecting financial returns. Real estate values fluctuate, and we don't represent otherwise. We encourage buyers to conduct their own due diligence and consult independent advisors when evaluating their purchase. A flexible, transparent way to sell Pacaso gives owners an exceptional level of flexibility, control, and peace of mind when it comes time to sell. With a built-in marketplace, professional marketing support, and a simplified transaction process, reselling Pacaso shares is designed to be as effortless as ownership itself.

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.