Advertisers on original website yours2share have been delighted with the response to early ads for fractional rental of second homes. Some people dream of owning a traditional holiday home as a means of regular escapism. But if this is too expensive, fractional rental provides an attractive alternative.
Fractional renting involves letting a property for some of the time on a recurring basis, such as every third weekend, weekdays only, or for three months of every year. Weekday only rentals are a relatively well established form of fractional renting, but rental sharing of second homes is a new concept being pioneered by yours2share.
One of yours2share’s earliest advertisers was Caroline Hawkins of Sheldon Manor in Wiltshire. She has a three bedroom cottage which she wanted to rent out for part of the year, retaining access to it for about twelve weekends a year to support the weddings she holds at the manor. Ideally she wanted two or three families or couples who would use it as a second home. She is delighted with the fifteen responses so far, all of which are serious. She expects to set up an arrangement for two families to share the cottage with her over the next couple of months. She is currently renovating a further cottage with a view to letting this to two or three families on a fractional basis. Caroline: “Many of the people contacting me say this is exactly the arrangement they were looking for.”
For landlords, fractional renting generates income from a second home, without the inconvenience of holiday letting. For the tenant it offers a regular holiday home that will feel more like their own, without the cost and commitment of purchasing the property themselves.
yours2share founder Sophie Garrett: “I started yours2share because I wanted to rent our holiday cottage in Suffolk to another person or couple for the alternate weekends when we didn’t use it. It seemed an obvious thing to do, but to my surprise there was no service allowing you to do this. Although you make less money than holiday letting, fractional renting generates some income with minimal inconvenience. Once you have found like-minded partners with compatible requirements and agreed a contract, the arrangement can run hassle-free for landlord and tenant for many years. ”
Notes to Editors:
yours2share is a website for private individuals to buy, sell or rent shares in valuable assets, or create new syndicates. This enables people to see all the options in one place, and allows them to take control and create bespoke sharing arrangements. 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.
: Sophie Garrett on +44 (0)208 133 1234