OFTEN ASKING
question
Generally
General questions regarding co-ownership of a residence with Villa № 8.
Yes. Villa No. 8 provides guidance regarding tax returns.
Villa № 8 delivers a turnkey product, so you don't have to deal with many (boring) details along the way.
However, the owners are represented by an owners' committee, which is elected on behalf of the pool's owners. The committee assists Villa № 8 in the selection of the home and approves all payments from the owners' escrow account.
You must not rent out the homes, but you are very welcome to lend them to friends and family.
If you are interested in investment opportunities For rental purposes, contact us today!
The role of the owners' committee is to approve home purchases based on proposals from Villa № 8, authorize payments, and generally provide advice to Villa № 8 regarding the operation of the homes. At the general meetings, the owners themselves elect an owners' committee consisting of three people.
No, absolutely not. You own the home and the company, which is written on the deed.
When all shares are sold, The founding general meeting is called. Here, all individuals/families meet to sign the co-ownership agreement.
If you want to co-own a home with someone you know, please contact us.
Yes, you are completely free to invite family, friends or acquaintances to stay in your accommodation. Villa № 8 must be informed of who is staying in the accommodation, but beyond that, we do not interfere with who you give away weeks to.
The concept includes a mandatory final cleaning and linen service, which Villa № 8 organizes. So you don't have to worry about ordering it, nor what it looks like when you show up at your accommodation.
All Villa № 8 associations have 2-8 shares and can therefore be owned by between 2-8 people/families. However, a person/family can own several shares, but not so many that they get a majority. As a person/family, you can easily have shares in several different associations and thus several homes. It's nice to have the choice of where to go!
You don't have to meet anyone, but you can always reach out to your co-owners. In principle, it's never really necessary, but it can be very nice to know a little more about the others.
Villa № 8 is the association's administrator when the home is in use. We look after the interests of the owners' association when it comes to daily operations, including calling general meetings and also providing a director for the partner company. Furthermore, Villa № 8 arranges for the preparation of annual accounts, tax returns for each individual owner and many other tasks related to the association and the properties.
We are also responsible for the booking system and resale of the shares, if you want to use us to sell again.
Villa No. 8 is not a real estate agent. We structure the ownership group, administer the association and support with purchases and operations - but we do not mediate real estate sales for sellers for a fee as a real estate agent.
Economy
Here you can find the answer to many of the financial aspects regarding co-ownership with Villa № 8.
When you have decided to join a Villa No. 8 ownership group, please contact us as soon as possible.
Here we will set up a meeting by telephone or online and discuss the different options. This also includes an approval process for Villa No. 8 so that we only get decent people in our ownership circles. When we have finally found the home, you will receive an Agreement to sign and the entire process for your future home. You only pay for your share after the founding meeting with your future co-owners. This way we ensure that you are included if you also have a good feeling about the others. Even if you are not going to have anything to do with each other, it is still nice to have it as a security for you. We also do not want to have anyone who does not want it anyway, where you have 5 days after the meeting to regret it if there is someone you do not want to share the home with.
Yes. The home is owned exclusively by the 2 to 8 people/families in the association. Each family/person owns 1 to 4 shares of each home.
When you buy a Villa № 8 holiday home part, you pay the deposit in cash to your homeowners' association immediately after the association is established. In addition, there is a security deposit for 1 year of common expenses, which will remain with the association for the entire period of your ownership. It is most obvious to seek financing through equity in your own property.
There are no loans in our associations. All homes are purchased in cash, but families can borrow from the bank to buy their share.
Not all families/individuals have either savings or equity in their home to buy a Villa № 8 share, which is why some have often borrowed money from their own bank.
Today, it has become much easier to get financing for ownership shares. Contact us to find out more.
All amounts paid are in the co-ownership accounts and can only be released in cooperation with a co-ownership representative.
The investment amount is paid into an Establishment Account and the deposit is paid into an Operating Account.
The fee varies from owner to owner, and is therefore listed in the prospectus for each property. Contact us to find out more about the fee today.
Tax payments are made locally and vary from country to country. They are part of the ongoing common expenses. In addition, you must declare the amount to the Danish tax authorities yourself - Villa № 8 helps with this.
You can let Villa № 8 help with the process or find a buyer yourself. In both cases, Villa № 8 is responsible for all the administrative work related to the transfer of ownership of the homes.
In a joint ownership, the liability is joint and several. The risk is eliminated by everyone paying the price for their share in cash, and by the homes being purchased in cash. Furthermore
A deposit of one year's common expenses is paid.
Because you, of course, must be involved in deciding which one to buy. You are the one who will own the home through the company, so you must also be involved in stating your preferences.
They cover all expenses associated with running the home, including local taxes, insurance, wifi, gardener, maintenance, administration, etc.
The residence
Questions regarding the home you will own through our concept.
We have defined the property for an association in advance – both in terms of location and size. The final selection is made according to a large number of parameters, and it is a very thorough process that we take very seriously.
We always consult with the owners. It is difficult to describe exactly what we value. It varies depending on the destination and use (view, city, beach, etc.), but we always make sure that everyone in the owners' circle is satisfied. We are discerning homeowners ourselves.
The selection of a property through Villa № 8 is based on experience in both the Spanish and Danish housing markets and cooperation with local specialists. We always stay up to date and are residents in both places. Therefore, a purchase process always takes place with “boots-on-the-ground” regardless of where. We personally supervise any renovation projects and do not leave the full responsibility to others.
In relation to the selection process itself, we always draw on previous experience and mix modern purchasing knowledge with good old-fashioned service.
Furthermore, we draw on professionals in all fields, both foreign and Danish. If you would like to know more about a specific field within the selection process, please contact us.
Unfortunately, it is not possible to invest with pension funds or company funds in privately owned homes due to the risk of disposal taxation for the entire homeowners' association. If you would like to know more about investing with funds other than private funds, Please contact us today. We have a solution for it all.
No, the homes are owned exclusively by the 2-8 people/families.
Yes! Of course, there is wifi in all the homes we acquire. We ensure the best possible coverage in all locations and even have an employee in Mallorca to optimize the speed at all times. We work from home in Mallorca ourselves, and it should of course be possible for our owners to do the same.
We work with professional European interior designers to refresh, furnish and stylishly furnish your home from start to finish. Don't worry, we won't forget the cozy atmosphere and yes, there is a TV and speakers for good music in the home.
Villa № 8 is not involved or has a stake in the owners' association's finances or in the ownership of the homes. Therefore, the biggest consequence will be that the owners will have to find another administrator.
You do this, of course, through the company that is established for the individual group of owners. This means direct ownership of the homes.
It depends on which property we are talking about. We strive to ensure that you can access your holiday home within 3-12 months, depending on the renovation of the property etc. We will of course keep the owners updated throughout the process.
We buy homes with the greatest potential and the best location, which typically require some form of upgrade. This provides the best return on sale, and we therefore always include the investment potential in our purchasing decisions. The specifications for each home are stated in the co-ownership agreement.
It is clear that the larger the upgrade, the longer the time, so the home is chosen depending on preferences for time and price.
If you damage something, Villa № 8 will take care of replacing it. Minor repairs are covered by the common expenses and major expenses are reserved for the person causing the damage themselves, unless covered by insurance.
As a general rule, you are not allowed to bring your pet into the accommodation. If you would like to bring your pet into the accommodation, please contact us for further discussion.
Operations, everyday life & booking
Questions regarding operating costs, how to book your accommodation and general everyday life in the accommodation.
The common expenses cover the ongoing costs of the home and administration. The only thing you have to pay in addition to the common expenses is cleaning after each stay and consumption (electricity, water and heating) during the weeks you are away. Apart from that, there is only the individual family's share of the total property value taxes - the amount will be stated in the memorandum for the association. The common expenses do not include money set aside for changes many years in the future, such as a new kitchen or a new roof. We offer to draw up maintenance plans for all our homes, so you have a tool to manage any savings. The vast majority of associations choose to have maintenance plans made for their homes.
How many weeks you can book in the home depends entirely on your share. One share in the home gives exclusive access to 45+ days in the home or six weeks. Two or more shares can of course be purchased and give correspondingly more days/weeks.
Our booking system is smart and very easy to use. You can book stays up to a year in advance, or you can choose to book impulsively for the upcoming weekend.
All homes are insured in the way that makes the most sense. This means that, of course, consideration is given to, for example, a location next to the dunes or a location with a history of special weather conditions.
An ordinary general meeting is held once a year, which is convened in writing.
Changeover day is always Monday, so it is possible to take an extended weekend and at the same time have time for cleaning etc. after the previous owner's stay. Furthermore, it is usually cheaper to fly on Mondays.
No, there is no smoking in the accommodation. Smoking is allowed outdoors.
We make sure that all homes have some kind of storage room or annex, so it is possible to leave some of your things. It is always nice to be able to have a small jersey, a racing bike or something completely different lying around.
