FAQ's

Here are some of the other common questions people like you naturally have about co-ownership and Vacation Property Partners

Why consider co-ownership of a vacation home?

You’ve always wanted a vacation home but it never seemed to pencil out. By making vacation home ownership more affordable, Vacation Buying Partners could let you enjoy all the benefits of ownership at half the cost by co-ownership with a qualified, compatible buying partner.

  • Half the purchase price
  • Half the mortgage
  • Half the taxes
  • Half the maintenance costs
  • Arrange the usage you need

Isn’t co-ownership like a timeshare?

This is co-ownership (just two partners) of your own vacation home that includes a customized, comprehensive usage agreement and exit strategy. It’s NOT a timeshare, it’s NOT a fractional, it's a co-ownership of a single property with a qualified, compatible partner. VPP connects potential partners, and connects those partnerships with suitable properties.

  • You can find a partner and and then locate a compatible property or
  • You can find a property and then connect with a compatible partner.
Membership fees apply

How do you avoid problems with your co-ownership partner?

We know there are anticipated concerns about getting into a financial partnership with someone you don’t really know.

  • How do we figure out usage of the house?
  • What happens if one partner doesn’t meet their ongoing commitments about finances or upkeep?
  • What happens if there are unanticipated major expenses?
  • Can the property be rented to third parties?
  • How do I get out of the partnership?
These questions and almost any other that you can think of are addressed in our proprietary dynamically generated agreement form library. These helpful informational documents are accessible with an additional cost. VPP is not a law firm and we are not acting as your attorney. VPP only provides self-help agreements at your specific direction. Please see our legal advice disclaimer.

How does VacationPropertyPartners actually work?

You’re joining a Club whose Members are seeking a like-minded, compatible partner with whom to buy a vacation home.
Our platforms make it easy to either find a partner first and then search together for the vacation home that fits both your needs, or find the property first and then find the perfect partner.

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How Do I Search For A Partner?

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How Do I Search For A Property?

We’re here to change the way people buy vacation homes, by making owning a vacation home more affordable for everyone. With the VPP platform, you can search and find a compatible co-buying partner to share a vacation home with, ultimately cutting the cost of ownership in half!
The membership fee provides a lot of helpful things that will guide you through this process! See below:
  • The ability to contact other members through the VPP site to find a compatible partner
  • Access to our proprietary, dynamically generated agreement form library for use between both parties, potentially saving you thousands of dollars in legal fees*.
  • Introductions to recommended brokers in your region to help you and your partner close the deal on the perfect vacation home
  • Introduction to selected mortgage loan providers and insurance providers who are familiar with partner ownership and provide competitive rates
  • Personalized customer service, providing you support and guidance every step of the way!
*Additional fees from VPP apply.
The reality is people end up using their vacation home only about 10-20% of the year. If you share ownership of your property with another person, not only are you cutting the cost of ownership (mortgage, taxes, HOA fees, utilities, maintenance etc) in half, but if you have the right partner you may get to use your vacation home as much as you would if you owned the whole thing! If you have been thinking about buying a vacation home but it’s not in your budget this is a way to be able to afford it. Alternatively, if you are already planning on buying a vacation home and have a set budget, you would now be able to get twice the home at your current budget level.
It is often difficult to find a friend or relative to own a vacation home with that would be a good match for you. That is where we come in- providing many different options of people who you can match with to find the perfect partner for your vacation home. After being introduced, you’ll get to know this person very well and will communicate with them extensively. They will be far from a “stranger”!
Yeah, we hear that a lot. Good news- this is actually completely different from a timeshare or a fractional! A timeshare normally refers to multiple people each owning 1-2 weeks of time at a condo, whereas VPP enables you to co-own a vacation home by matching you with a suitable partner. This means that each person has 50% equity of the property, and 50% of the year to use it. Think of it the same way as if you were looking to go in on a vacation home with a relative or a friend. The only difference here is that the person you will be sharing it with is someone who you have been introduced to through the VPP platform.
Yes- you can browse the site and search for partners without being a member. Once you become a member, you will be able to contact potential partners and get the ball rolling on co-owning your dream vacation home.
The way we see it- this person will be far from a stranger. After being introduced to your potential partner via the VPP platform, you will be communicating with them extensively. By the time you agree to go in on a property together, you will know each other very well! Additionally, you and your partner will discuss and agree upon every logistic of co-ownership upfront, so both parties will feel comfortable and know exactly what will happen once the home is purchased. This solution is just another aspect of the sharing economy, which has become a normal way of life as we know it. Think about how we so easily get in the car with a “stranger” when riding Uber, and stay in someone’s house while renting an Airbnb!
Similar to a dating site, we don’t do the matching for you. We provide the profiles of potential members, which you can filter through to find your compatible partner. To help with this process, VPP will suggest certain people as recommended matches using our proprietary algorithm, which can help guide you to find the perfect partner. Communicating and ultimately selecting the right partner is up to your discretion and choice.
Absolutely! There are two ways you can do it:
  • Search for your perfect partner match first, and then together search for the ideal vacation home property to share
  • Search for your ideal vacation home property first, and then find the perfect partner to co-own it with
We’ll ask you a variety of questions to build your member profile, including the region you’re interested in, house size and type, price range, what you are looking to use the house for (family vacation vs. couples retreat, etc.) and more. These points on other member’s profiles will help guide you in determining if they would be a good match for you!
In this case, a compatible partner may mean someone who is opposite from you. For instance, if you are looking to own a vacation home in Aspen, a successful partnership may be matching someone who skis and wants to use the house in the winter with someone who doesn’t ski and wants to use the house in the summer. Similarly, a family with kids who will likely use the house during school holidays may want to match with a retired couple who wants to avoid using the vacation home during the busy holiday season. We encourage you to take your conversations offline and meet up with your potential partner in person, on video conference, on social media- or wherever you feel most comfortable. The more communication you have with your partner, the easier this process becomes!

Visitor - Not Registered (by providing email address) or Joined (by paying)

  • Can search for and view potential partners
  • You cant post a profile and potential partners cant contact you
  • Cannot contact potential partners
  • Cannot search/view properties

Registered User - Has provided an email address but has not Joined (by paying)

  • Can search for and view potential partners
  • You cant post a profile and potential partners cant contact you
  • Cannot contact potential partners
  • Can search/view properties

Member - Has joined (by paying for a Membership)

  • Can search for and view potential partners
  • You can post a profile and potential partners can contact you
  • Can contact potential partners
  • Can search/view properties
Any price range or type of home you are looking for will be available through our property search on the site, including luxury homes.
Definitely! If you know of a specific property that you are interested in, you can use VPP to match with a partner to co-own this specific home with.
Yes- VPP aggregates property listing data from MLS for you to search through to find your perfect property to share with your partner. VPP will use your profile inputs to provide guidance in your search not only for a partner, but for a property as well. Once you decide on a home, the next step would be to go to a broker or agent in your region. VPP has a list of recommended brokers who are familiar with co-ownership that you can use for the closing process. However, if you have a certain broker that you want to use that is not on our list- you can do that too! We will be there for guidance every step of the way.
Either way works! You can either:
  • Search for your perfect partner match first, and then together search for the ideal vacation home property to share
  • Search for your ideal vacation home property first, and then find the perfect partner to co-own it with
We realize that nothing lasts forever and at some point, you will want to sell the property. You may include a clear exit strategy agreed upon by both parties that will be stated in a Letter of Understanding. Our document library can provide guidance on this to be finalized and approved by your legal counsel. Knowing your exit strategy options before signing on to co-owning a home together is the key to a stress-free, successful partnership.
We expect that most partnerships will be with two people, but if you are looking to have more than 2 partners, you can certainly do so. It’s totally up to you!
We expect that most partnerships will end up being 50/50, but if you and your partner are looking for a different split you can definitely do so.
This will be agreed upon by you and your partner upfront, to be included in your Letter of Understanding that will be used to create your legal contract.
Similar to the above, this will be agreed upon by you and your partner before you buy the property, to be included in your Letter of Understanding that will be used to create your legal contract.
There are a few options for divvying up the usage of the house, and it is totally up to you and your partner to decide how you want to go about it. VPP can guide you in this process by helping to generate a “Letter of Understanding” as an agreement between both parties. This will address usage time as well as other logistics for you and your partner to agree upon before purchasing the property.
VPP will help you to dynamically generate a Letter of Understanding to cover all your bases for shared ownership with your partner. You can then take this letter to an attorney of your choice for them to draft up into a legal contract, which will may save you thousands of dollars in legal fees! Additional fees apply.
Yes- VPP will provide a list of recommended lenders that are familiar with partnership purchases that you can use. However, if you have a specific bank or lender that you would like to use, feel free to do so!
As long as you and your partner both agree to this, then yes! The ability to rent out the house may be included in the custom Letter of Understanding agreed upon by both parties.
Similar to the above, this is something that you and your partner can discuss and come to an agreement on, to be included in your Letter of Understanding. If you and your co-buying partner do agree that friends or family are allowed stay there, be sure that they respect the house and leave it the way they found it!
There are a few ways to go about this- this is something that you and your partner can discuss and decide upon in your Letter of Understanding. It is completely up to you!
We understand that sometimes things happen (loss of job, divorce, etc) where you or your partner may not be able to make a payment. You may want to obtain specialized mortgage default insurance to ensure that you are not stuck with your partner’s share if they are unable to pay. VPP is also working towards having this as a benefit of our platform.
If both you and your partner agree that this is fine, then yes! This is one of the many things that will be addressed in your Letter of Understanding that may be used in writing up your legal agreement.
Similar to the above, this is up to you and your partner to decide. If you both want this option, you could always designate a closet in the house for each person to keep their things in and lock it when you are not there.
Similar to the above, you and your partner can address this in your Letter of Understanding. It is always important to remember to respect the house and to leave it the way you found it, but we realize that sometimes damages occur that are out of your control (due to weather or other factors). In these cases, insurance may cover it.
The Letter of Understanding that you and your partner agree upon before buying a property will cover pretty much everything you can think of in order to cover your bases and avoid potential disputes. This is something that you and your partner can reference if a dispute comes up in order to swiftly and easily dissolve it. However, we know that sometimes things happens, and you and your partner may have an unresolvable dispute that makes you want to part ways. The good news is that you may already have a clear exit strategy laid out in your Letter of Understanding to make this process as stress-free as possible!
This may be discussed and agreed upon before purchasing your home, as part of your clear exit strategy. The key to a stress-free, successful partnership is to ensure that both parties are on the same page and that an exit strategy is in place ahead of time!

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Information provided on this website does not constitute professional advice. If you have legal, tax, regulatory, compliance, federal, state, local or financial planning questions, you need to contact a qualified professional. Please see our legal advice disclaimer.