Fact sheet about yours2share
yours2share helps anyone buying or selling shares in valuable assets such as property, boats, aircraft, cars, or jewellery. yours2share gives people an alternative to fractional schemes from commercial property developers or specialist agents which offer limited choice. The website enables private individuals to search for, buy, sell or rent shares, or create new syndicates, as well as providing options for commercial agents This enables people to see all the options in one place, and allows them to take control and create bespoke sharing arrangements. yours2share includes comprehensive guidance and template contracts are available.
yours2share is totally independent. It doesn’t sell any of the valuable assets, finance or insurance, so it offers an objective view of the industry.
How it works
The first step is to post an ad explaining what is required, there is lots of guidance to help establish if potential partners are suitable, and template contracts to help with the legal side. Property purchases have to involve a solicitor, but the templates should reduce this cost.
About fractional ownership
Fractional ownership is the term for more than one person owning the title of a property or other valuable asset. Unlike timeshare, the owners collectively own the asset title rather than just the right to use it. Most fractional ownership contracts are provided by property developers or commercial agents offering schemes in highly exclusive properties, cars or boats. If they offer the type of property or other asset that the buyer is looking for they are an ideal way to become a fractional owner. However, prior to the launch of yours2share, few options existed for most potential fractional buyers.
Examples of fractional ownership include:
- Sharing a holiday villa or ski chalet – four partners each using it for three months a year
- Sharing a weekend cottage – three partners each using it every third week
- Sharing a city flat: two partners, one using it during the week, the other at weekends
- Sharing a boat, aircraft or luxury car – two or more partners, using the asset on alternate weeks or months
- Sharing an item of jewellery – six partners each using it at different times of the year
Advantages of fractional ownership include:
- Huge reduction on purchase and running costs
- Property, boat or mobile home stays in better condition because it is used more often
- Better security as the property or boat is empty less often
- Better use of resources which is more environmentally friendly and socially conscious.
About fractional renting
Fractional renting refers to the process of renting a property for some of the time on a recurring basis, such as every third weekend or for three months of every year. It is growing in popularity for weekday only rentals, and for sharing second homes. For other assets it means extra income can be earned from infrequently used possessions.
For landlords, fractional renting is a great way of generating income: either from a spare room, without having to share their home at the weekends when they spend more time at home; or from a second home, without the inconvenience of holiday letting and the ability to use the property exactly when they want. For the tenant it offers a much pleasanter and usually cheaper option than long distance commuting or staying in a hotel; or provides a regular holiday home that will feel more like their own, without the cost and commitment of purchasing the property themselves. Fractional renting can also be used to share other assets like boats, cars jewellery or mobile homes.
Examples of fractional renting include:
- Someone with a holiday villa, that they don’t want to holiday let or want to use for most of the peak season, could look for someone to rent it for a certain number of weeks or months of the year every year, at times to be mutually agreed.
- A property owner going away every weekend, or nearly every weekend, could look for people who need a property only at weekends or maybe every other weekend?
- Someone visiting a place regularly, say 50 nights a year, could look for someone to rent them a room occasionally.
With all these scenarios less money is made than renting permanently, but for anyone who cannot, or does not wish to, have full time or holiday-let tenants, it can be attractive. It may also provide extra benefits, such as keeping the property, boat or mobile home occupied (keeping it in better condition and more secure) plus maybe a little plant watering or pet sitting.