Second Home Owners - Frequently Asked Questions | Pacaso

Owner FAQs

Get answers to common questions about fully managed LLC co-ownership.

Understanding LLC co-ownership

  • Can Pacaso raise monthly operating expenses?

  • Does the Pacaso management fee go up each year?

  • Can Pacaso make changes to the owner operating agreement?

  • Where do the reserve funds go and how are funds used?

  • What services are provided for Pacaso second home owners?

  • Can Pacaso borrow against the property’s LLC?

  • How does voting work? How do owners call for a vote?

  • What kind of LLC does Pacaso create?

  • Is Pacaso ownership the same as a Tenancy in Common (TIC)?

  • Can owners use an LLC trust to purchase their Pacaso?

  • What if another owner defaults? How does Pacaso protect me as an owner?

  • Does Pacaso pay the legal fees if the LLC is sued?

  • Can an individual owner be held liable?

  • Can owners decide to run the LLC without Pacaso?

  • Can Pacaso stop me from selling?

  • Can Pacaso sell the entire property?

  • What is considered a “routine matter” that Pacaso can resolve without ownership voting?

  • Who is responsible if something breaks?

  • What happens if zoning laws change?

  • Can owners themselves borrow against their share in a Pacaso?

  • How can owners use the reserve funds?

  • How do taxes work?

  • How is the deed recorded?

Ownership transfer and resale

  • How does ownership transfer work?

  • Can I transfer ownership to another Pacaso at any time?

  • Can I transfer ownership more than once?

  • Does Pacaso charge a transfer fee?

  • Does my ownership transfer immediately, or do I have to wait for my original share to be resold?

  • How will an ownership transfer affect my available stay nights?

  • I want to transfer my ownership to a less expensive home. How does that work?

  • I want to transfer my ownership to a more expensive home. How does that work?

  • Can I finance the price difference if I transfer to a more expensive home?

  • How does transferring ownership affect my taxes?

  • How does Pacaso resale work?

  • Can a Pacaso owner really choose any sale price for their share?

  • Can buyers negotiate the sale price an owner has set?

  • What happens if my share isn’t selling?

  • Are there closing costs, commissions or other transaction fees for Pacaso owners who sell their shares?

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