Frequently Asked Questions
Rent
12 months from the start date of the contract.
Yes, if one week out of four is not enough for you, you can rent a second slot in the same property or in another property where the dates are compatible. By doing so, you could finally have a house on the beach and another one in the mountains!
Yes, through the APP you can suggest the exchange to the other tenant and they will have 10 days to accept or reject the proposal.
For each person you recommend to the platform and who ends up renting, we will give you a 5% discount on your annual fee for the following year.
We will keep your preferences and try to match them with someone else who wants the opposite.
Yes. We consider WiFi together with electricity, water and gas and include it all in the price.
Yes, always under your responsibility.
Yes, of course!
If you know for sure that you are not going to use it when it is your turn, it is offered first to the rest of the families.
- If another family takes it, they will pay your proportional share of cost.
- If nobody wants it, we put it on Airbnb in exchange for a 25% management fee.
Yes, as long as the owner has given us approval. We indicate on all our properties whether pets are allowed or not.
Buy
We look for various owners interested in the same property. Each owner can acquire from ⅛ of the property to half of it. Once the property is purchased through the different shares that the now co-owners hold, we proceed with the creation of the SL (LTD), which will be the real owner of the house while each co-owner will become a shareholder of this newly built SL.
No. Owning a property via SL is not a new practice. However, managing all that it implies during the creation and maintenance of it (registering it, legal procedures, statement of benefits…) can be a bit of a headache. With secondPROP, be sure to know that our legal team together with the high-end technological solutions that we can provide will offer you a hassle-free solution, so you do not have to worry about anything.
Our partners are the most reputable real estate agencies from each one of the areas that we have properties in. In addition to this, we also have a marketing department that works nonstop together with a highly experienced team at secondPROP with the never ending goal of finding potential buyers.
We are constantly looking for people that are drawn to the concept that secondPROP proposes.
It is that type of person that has always wanted to have a second home, but when it came to doing the numbers it just did not work out, or realized that the house wouldn’t be used enough to make the investment worth it. In our buyers, above all, we look for people with common sense.
When purchasing your second home, please consider the following expenses:
- The percentage of the total price of the house according to the size of the share that you acquire.
- ITP – depends on each Autonomous Community, can range from 7% to 10% of the price paid for the property.
- Home upgrades/furnishings – it will depend on the state of the house, and will include the purchase of a new sound system, TV, household items, individual cabinets, books… It is usually between 5.000€ and 10.000€ per share.
- secondPROP fee – 12% of the price paid for the house. Intended for paying all legal expenses of creating the SL, registering it, buying and selling the property, all necessary marketing to find co-owners, and all the scheduling technology behind all of it.
In any case, you can find more details in the dedicated article that is published in our blog, here is the link:https://www.secondprop.com/es/costes-comprar-casa-secondprop/
The purchase becomes effective once secondPROP has confirmed and signed interest from a client willing to buy a share of a specific property. At this point we proceed to sign a deposit for the property in question and to find the rest of the co-owners. Once the time agreed with the deposit has expired, whether 100% of the co-owners have been found or not, secondPROP proceeds with the purchase and sale so that the co-owner/s can enjoy the house as soon as possible.
Ownership
Yes you do, once the purchase is finalized, you become a shareholder of the SL created to be the owner of the property. Just like any other shareholder of a company, if you wish to sell your share you are more than welcome to do so at market prices.
No, the main difference is that with secondPROP you buy property, not time.
- With secondPROP you will be able to own single-family houses while when acquiring right of use the properties are apartments/condos etc…
- With secondPROP you are an owner of the property, when you have the right of use you just buy time, the property is never yours.
- With secondPROP, you can use your home whenever you wish during the year, and on different dates if wished during the year after, with right of use, the time given is fixed every year.
- With secondPROP, you can sell at market prices, if you have purchased a right of use, the price will be set by the hotel/constructor.
We have a modern team of interior designers that will make sure the quality of our homes is of high standards while keeping quality and functionality high in their priorities. They will evaluate the state of each house to make sure it is a place with great energy. But hey, there is nothing that you need to worry about, just make sure you enjoy it all, we take care of the rest.
You set the price according to market prices of your area. We, from our side, work with our partnered real estate agencies so the whole selling process is as easy and smooth as possible for all parts involved. Plus, before your share is listed in the market, we will offer it first to the rest of the co-owners of your property in case someone is interested in having more nights a year in their already owned property.
It will depend on the offer and supply that exists at the moment you decide to sell. What we can assure you is that the whole process will be smooth, fast, secure, and hassle-free for all parts.
Your access depends on the number of shares you have acquired. Each share includes 45 stay nights, and they are tracked on a 365-day basis. For example, if your ownership anniversary date is September 10th, 2021, we’d count the total number of stayed nights between September 10th, 2021, and September 9th, 2022.
Our APP Enjoyprop is designed to be equitable, and each owner is guaranteed one special date per share. We know that you may not always secure your first choice of a special date in a given year (e.g., Easter), but our 24-month stay calendar gives you the opportunity to request the date in the future.
Enjoy
You can schedule the time you want to spend in your second home through our secondPROP App that you can download for both IOS and Android. Go to the “Book” section on the bottom left of the screen. In this section, you will be able to see both your general stays status (your pending bookings, what has already been used…) and also the weeks that the other co-owners have already booked. This is the screen, where you will be able to easily select the days that you want to book for yourself.
A local estate administrator under the supervision of secondPROP will be the one who takes care of everything that the property may require, both in terms of maintenance and cleaning.
In addition, there is a reserve fund that is created to fix contingencies arising from its own use. Of course, it will not cover those damages that may occur from objects whose misuse has caused damage or breakage during your stay.
The monthly fee that each owner has to pay is made up of several lines, here are the details:
- IBI, waste – will pay the garbage tax and the corresponding IBI.
- Cleaning – covers year-round cleaning between each stay so that the house is immaculate whenever a new owner enters.
- Maintenance – takes care of all those tasks that are necessary to keep the house in perfect condition.
- Property administration – oversees the SL management including quarterly VAT taxes, corporate income taxes…
- Household items – covers any deterioration or breakage due to the use of household objects, electrical appliances, technology…
- Insurance – is responsible for paying the cost of home insurance, that will later take care of hiring professional services if needed such as plumbing, electrician…
- Community – takes care of all community fees when needed.
- Contingency reserve – intended for necessary medium-term repairs that may need the structure of the house, roof, pool…
- Water, electricity and internet – pays for all the bills based on consumption.
- secondPROP fee – keeps the booking platform running smoothly, as well as putting a secondPROP manager at your disposal at all times.
Yes, from the beginning of the purchase process, always in the event that all the co-owners of a property decide to rent, during the last month of each year secondPROP will ask each one to indicate how many days they want to enjoy the property and how many days they want the property to be rented. With this information, secondPROP will then proceed to manage the rental and distribute the profits once the year has ended in proportion to the days that each owner has released.
Yes. Each owner has a 2x1m closet where they can keep personal things that they might want to keep at the house. What is not allowed is to leave a car or a motorbike on the property, or any other item that does not fit in the closet that each owner has at its disposal.
No, secondPROP does not keep any share of the house. Therefore, it is up to the shareholders, in other words the co-owners of the house, to decide if they want to change any rules with which they might be in disagreement.
Yes, with a trusted local property manager who takes care not only of the maintenance, but also of the cleaning, paying for utilities, rubbish tax, community fees, reserves for unforeseen events and breakages as well as necessary structural works among other things. You can see at the bottom of any of our properties the exact details of what is included in the Maintenance Fee of each house.
Agents
We have created a new commission in the market that comes from the buyer side. As an agent, we reward you with 3% of the price of the share that you sell, for each person who buys one or more shares of secondPROP properties
In that case, you keep the sales commission negotiated with the owner, we will use the example of 5%, plus 3% of all shares sold. In the case that you have obtained all the co-owners, the total commission would amount to 8% (5% + 3%) of the total price of the property.
No, secondPROP, through its multiple advertising campaigns as well as agreements with buy-sell property technological platforms and collaborating agents, will attract interested buyers in the property to add to those you have obtained as an agent. In this case, you will be rewarded for each transaction that you have closed with 3% of the price of each share.
