Keeping the lights on
As with any home, there are utilities and other ongoing expenses associated with Primio ownership. These costs ensure your home is well-maintained and ready for your next stay. Because Primio manages the home, you don’t have to worry about any of the usual homeowner details or hassles — we take care of the bills, cleaning and maintenance, and we even handle the property tax payments. We budget for owner expenses annually and break the cost into 12 fixed monthly payments. Costs are passed through to owners, with no markup, based on the number of shares they own. Monthly payments are deposited into the limited company account, and Primio uses the funds to cover these expenses as needed:
- Property management. Primio provides in-house property management services in most regions, and elsewhere we work with experienced local property management companies who take care of the day-to-day needs of the home. We ensure communication is streamlined and the quality of service is exceptional.
- Cleaning. Each home is thoroughly cleaned and inspected after each owner’s stay, and consumable supplies, such as paper goods, are replenished.
- Utilities. This includes gas, electric, water, sewer, garbage and internet/TV — the basics to keep your home functional.
- Taxes and insurance. Primio manages the payments for property taxes and homeowners insurance premiums when due.
- Reserve fund. As any homeowner knows, things break or wear out, so Primio maintains reserves in the limited company to cover those unforeseeable or longer-term expenses, such as a roof replacement.
We will only increase monthly owner expenses if it’s needed to cover increases in actual costs of the home, such as insurance, taxes or other increased rates. Any necessary adjustments are made annually, and all cost statements are available to owners upon request.
Providing a fully managed experience
For many people considering a second home purchase, one of the biggest downsides is the burden of owning another property. If you only expect to use your second home a few weeks or months a year, you may decide to rent it out — and deal with the headaches of vacation rental management — or struggle to find reliable local vendors to help with maintenance issues, especially if problems arise while you’re away from the property. Primio relieves you of these worries and hassles by managing all aspects of homeownership. We charge a program management fee of EUR 99 per share, per month, which covers a range of services, including:
- Aggregating and managing the monthly owner expenses and taxes
- Maintaining the limited company and resolving any disputes between owners or the municipality
- Continually innovating and improving the Primio app and other digital technology
- Providing dedicated owner support
The monthly program management fee is fixed and will not increase annually. Primio is dedicated to transparency in pricing, and we believe our co-ownership model offers an equitable and cost-efficient way for more people to experience the joy of owning a second home.
