One of the main advantages of secondPROP is that you can enjoy your second home and not worry about maintenance and cleaning costs, supplies, taxes, etc. Plus, you’d pay only one-eighth per share.
Once the home is purchased through the Limited Company created with the owners, at secondPROP, we manage all the maintenance costs for your second home.
The expenses mentioned below are the totals with taxes included (when applicable).
What does the maintenance of a house include with SecondPROP?
The maintenance of your second home includes everything you need to enjoy it without worries: from property taxes to the costs of supplies (water, internet, etc.), including the necessary repairs in the garden and the pool, community expenses, and home insurance.
All invoices for expenses will be available in the mobile application, so that you can consult them quarter by quarter, and keep a detailed record.
These are the average expenses with secondPROP for a typical individual villa of €1.000.000 with garden and pool:
|EXPENSE ITEM||ANNUAL COSTING (TOTAL)||ANNUAL COSTING (AMONG 8 PARTS)||MONTHLY COSTING (AMONG 8 PARTS)|
|Deep cleaning before arrival||€5.600||€700||€58|
|Maintenance and repairs (garden, pool)||€3.000||€375||€31|
|Property administration (accounting, legal aspects)||€3.000||€375||€31|
|Reserve for contingencies (forecast of possible expenses, such as roof damage)||€2.400||€300||€25|
|Supplies: water, electricity, and high-speed internet connection||€2.400||€300||€25|
Based on this table, you can see that being the owner of an eighth of the house, you would only have to pay €295 per month and not worry about everything.
This way, every time you go to the house to enjoy it, you will have all the necessary equipment and supplies, and you will find the property completely clean and conditioned waiting for you.
Nor will you have to worry about paying taxes or insurance, since at SecondPROP we take care of everything As you can see in the table, we only charge €49 per month for each owner in exchange for carrying out all the necessary procedures and keeping the app in good working conditions.
What is the contingency reserve?
Over the years, damage and tear to the home may appear, as a result of its normal use: damage to the roof, damage to tiles, dampness, etc.
These are, in short, expenses that are difficult to foresee and that, when they arrive, they require a significant disbursement of money.
What we do at SecondPROP is to create a kind of “emergency fund” for these types of contingencies: a reserve that we charge every month, so that it is available in the future, when needed.
With the mobile application, you can always consult the entire record of expenses and know how much money is accumulated in the contingency reserve.
In our list of available properties, you will see the maintenance breakdown for each home for sale, in a totally transparent way for future owners.