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Do I really have ownership in the home?Yes. Owning a Pacaso is true real estate ownership. You purchase a share in a property-specific LLC. The home is fully managed and designed specifically for co-ownership.
Can I finance my purchase?Yes. We have integrated financing available to offer our buyers. You also are welcome to use other sources of capital such as home equity financing or cash.
What is a Pacaso Preview listing?A Pacaso Preview is a home we believe will be in demand based on its price, location, style and amenities, and would be eligible for future purchase based on buyer demand.
Does this work like a regular real estate transaction?Yes. The legal forms and closing process are similar to a standard home purchase. We partner with local real estate agents and pay full buyers agent commission.
How do I schedule time to enjoy my home?You book time using the Pacaso owner app, powered by our SmartStay™ scheduling system. It’s easy to use and equitable for owners, based on the number of shares you own. The system supports two types of stays: advanced and short-notice. Advanced stays are scheduled 8 days to 24 months in advance, and each owner has access to an advanced stay that falls on a special date (e.g., federal holidays). Short-notice stays are booked 2 to 7 days in advance of arrival. See additional scheduling FAQs for more details.
Is Pacaso a resort timeshare or fractional company?Pacaso helps people buy, own and enjoy a true real estate asset. Most resort timeshares, in contrast, sell the right to use a fixed amount of time in a condo or hotel shared by dozens of people. These units are notoriously hard to sell due to a supply and demand imbalance. Pacaso brings together a small group of co-owners to purchase a share of a single-family home and enjoy ongoing access. Pacaso handles all management details, provides full transparency on LLC operating expenses, and facilitates a seamless resale on the open market at any point after 12 months of ownership.
Is LLC co-ownership new to real estate?Owning real estate with others in an LLC is not a new practice. However, “DIY” LLC co-ownership is a headache to set up and a hassle to manage, especially when personal relationships are involved. Pacaso’s fully managed LLC co-ownership is a technology-enabled real estate ownership solution that removes the interpersonal stress and operational hassle of going at it alone.
Is Pacaso the same as a Tenancy in Common?No. Pacaso ownership is structured through an LLC. Owners purchase a share in the LLC, which holds the deed to the home. This structure provides Pacaso owners with protection, privacy and flexibility. A Tenancy in Common is a specific type of ownership format with deeded ownership for each partial individual owner.
What monthly costs will I have to pay as a Pacaso owner?Home operating costs, such as property management, maintenance, taxes and repairs, are passed along directly to owners transparently with no markup. Costs are shared pro rata. Owners pay an additional $99 monthly fee which covers LLC oversight, ongoing owner support, and the technology that enhances your owner experience.
Apart from the owner app, what services does Pacaso provide after the sale is closed?Pacaso manages all aspects of homeownership, including: choosing and managing the property management company; maintaining the LLC and resolving any disputes between owners or the municipality; continually innovating and improving the Pacaso app and other digital technology to help homeowners schedule more efficiently; and providing K-1 tax forms and handling property tax payments.
Can owners rent out their time on Airbnb or similar sites?No, owners are not permitted to rent out or sell time on vacation rental sites or other public rental listing services. All guests must be registered and have the Pacaso owner app on their phone to access the home.
Does Pacaso manage each home directly?Yes. We manage the LLC and engage local third-party property managers on behalf of the owners. We identify trusted providers with on-the-ground experience. We’ve established a technology-enabled feedback loop between owners and property managers to ensure communication is streamlined and quality is exceptional.
Who furnishes the home?As a service to owners, Pacaso works with professional interior designers who decorate and furnish the home to suit its unique style and location. Our goal? To create luxurious surroundings for effortless living. We think you’ll love the modern finishes, smart tech and beautiful décor. Each home is meticulously well-appointed with everything you need to cook, relax and play, so you can just show up and enjoy your time.
What if one of my co-owners misses a payment, or gets behind on their bills?Don’t worry — you are protected. As the manager of your home’s LLC, Pacaso will assume financial responsibility if an owner defaults on payments. This is one of the benefits of our ownership program.
What if another owner damages the home?We find that owners exhibit true pride of ownership and typically leave their home in excellent condition. To ensure a quality experience for every owner, homes are inspected after each visit. Any damages beyond regular wear and tear are charged to the owner who was using the home at the time.
What if I want to sell?After 12 months of ownership, you are free to sell at any time, and you set the sale price. You’ll work with a real estate agent who will market the home just like they would a whole home real estate listing.
Does my share increase in value if the home appreciates in value?Yes, as a true owner, any equity gains realized are yours.
Can I keep personal items at my home?Yes. Each owner has designated storage space for personal items.
Can I bring pets to the home?Yes. Owners may bring two dogs to their home, with some restrictions.
What Pacaso policies must owners adhere to?All Pacaso owners must adhere to our owner Code of Conduct. For example, Pacaso owners are prohibited from renting out their homes or hosting events that would be disruptive to the neighborhood.
Who will be responsible for lawn and home maintenance?Pacaso manages these details, including landscaping, tree trimming, gutter cleaning and pool maintenance, through locally hired professionals.
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