|
|
yours2share - the website with new ideas for property owners |
| July 2007 |
Innovative website yours2share goes live this week, with free information and services that help owners and aspiring owners of property to get more for their money. With rising interest rates, many people are looking for ways of earning extra income or releasing capital from their property assets, without resorting to permanent lodgers or holiday letting. People have increasingly complex living arrangements and need more flexible property ownership solutions. So a new trend is emerging - fractional ownership or fractional renting. Both involve sharing some (or all) of the property, some (or all) the time. yours2share makes it easy for people to do this. Each sharing agreement is unique to the parties involved, so isn't as inconvenient as one might think. Sharing allows owners to create income or release capital by making better use of their property assets. It helps first-time buyers to get on the property ladder and creates new opportunities for investors. It enables aspiring owners to gain access to a slice of luxury or convenience that would otherwise be unavailable and is ideal for holiday homes or infrequently-used areas of a property (e.g. spare bedrooms or annexes). Caroline Hawkins is looking for one or two partners to rent a cottage on her Wiltshire manor estate for up to nine months of the year. She needs to use the cottage herself for several weekends of the year and doesn't want to let the cottage for holidays, but instead find one or two like-minded individuals, couples or families that want a fabulous country cottage for weekends and holidays for a fraction of the cost of buying or renting a permanent second home. Link to ad For example, Graham Price is looking for partners to buy a fisherman's cottage, together with a new Beneteau Oceanis 50 yacht moored outside, in Port Grimaud, France. He's found two partners already and is looking for one more. Four owners living and working normal lives can effectively use the cottage and boat virtually whenever they want, so it will feel like they own them outright, but for a quarter of the cost. Link to ad As these arrangements grow in popularity, fractional ownership and fractional renting could transform the property market. Yet the key to growth of property sharing is enabling compatible candidates to find each other. Until recently there was little information for people contemplating a sharing arrangement and few ways for potential sharers to find each other. Now, yours2share helps people to find partners with whom to share property and offers innovative ideas on sharing, along with guidance to reduce the risks to an acceptable level. Like-mindedness is essential for successful sharing and this is yours2share's key objective: matching like-minded partners to share any property in any location. The website provides tools and advice to help potential partners find each other and negotiate a suitable contract. "Once people realise that with a little care they can find like-minded partners and share property with minimal inconvenience, I believe that the range and number of fractional agreements will grow rapidly," says yours2share founder Sophie Garrett. |
| ends |
| Notes to Editors:
About yours2share: yours2share is a new free website for private individuals and commercial agents 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. Fractional ownership: means that more than one person owns the title of a property or other valuable asset. Unlike timeshare, the owners collectively own the property title rather than just the right to use it. There are already several major fractional ownership property schemes; particularly in the USA and a few in the UK. Most schemes are highly exclusive and, if they offer the type of property the buyer is looking for, they are an ideal way to become a fractional owner. Before the launch of yours2share, there were few options for most potential fractional buyers. Fractional renting: means 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 live-in landlords, it generates income from a spare room, without having to share their home at the weekends when they spend more time at home. For second home owners, it gives an income without the inconvenience of holiday letting or severe restrictions on the times they can use the property. For the tenant, it offers a pleasanter and often cheaper option than long distance commuting or staying in a hotel; or provides access to a regular base that feels more like their own, without the cost and commitment of purchasing the property themselves. Fractional ownership and fractional renting: can be applied to all kinds of valuable assets as well as property. yours2share is unusual in that it offers information and services on all types of sharing, for all kinds of valuable assets. Contact: Sophie Garrett on +44 (0)208 133 1234 |
