Co-ownership, the simple way - How does August work?
To own second homes, co-ownership is a much better option as it allows you to increase your buying power, lower costs and increase access to beautiful homes.
We at August have set up the best structure and process to streamline and modernise co-ownership of second homes in order to help maximise the positives. We dramatically reduce the cost and complexity of purchasing and allow you to own five holiday homes in the best locations.
You, relax, August will do all the work
Delivering the emotional benefit of whole ownership allowing you to have beautiful private retreats without the downsides. Here is how August works.
S T E P 1: We find vetted co-owners
We find families who share the same ethos as us. Families who want real ownership, who value beautiful homes and share our love for travel and culture.
We meet every family who is interested in joining in order to find the best profiles with shared values. Once we feel they are the right fit for August, we provide families with the confidential August co-ownership documents and letter of intent for them to review and sign.
With a signed letter of intent, families are secured with a place in an August collection and issued an "admission ticket" to the inaugurating meeting. The inaugurating meeting is where the new owners meet for the first time, and where the co-ownership is formally established.
S T E P 2: We set up the co-ownership
Once we have all families, we set up for each collection a UK Limited (LTD) Company specifically designed for co-ownership which allows for real title ownership, streamlining the legal process and minimising the hassles while giving complete transparency to the co-owners.
August handles all the details. We’ve invested countless hours and energy into consulting with experts to create a best-in-class owner agreement that bypasses red tape and brings like-minded buyers together.
Once the collection LTD has been set up and the agreements signed, the co-owners are required to transfer the required funds. All properties will be purchased directly by the LTD.
LTD co-owners enjoy 100% ownership: all five properties will be 100% owned by the co-owners who each enjoy 1/21th ownership interest of the properties, their accompanying land and all their contents.
S T E P 3: We buy and transfer your homes
August focus is on finding properties in perfect locations that require upgrading. We have the eye and teams to renovate homes to both elevate each home to the August standards and create value for our co-owners. We manage the purchase of the properties, deal with local authorities, plan and manage the renovation of each property and finally interior design the homes following the local look and feel of each region.
S T E P 4: We manage your homes
€450 per month and we handle everything.
Going on holiday need to be as convenient, simple and easy as staying in a hotel. With August we take care of preparing the homes to hotel-like standards. The beds are done, fresh towels are folded, the garden will be perfectly maintained, and the pool will be clean. Your fee also covers small renovations, so we can keep all houses in perfect condition.
All that's left for you to do is to book your holidays!