Second Home Owners - Frequently Asked Questions | Pacaso

Owner FAQs

Can't find the answer you're looking for? We've shared some of our most frequently asked questions that come up prior to closing.

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  • Can Pacaso raise monthly operating expenses?

  • Does your LLC asset 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?

  • 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 a “liquidation event”?

  • 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?

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