MYNE Concept

Question 1

Why does (MYNE) Co-Ownership make sense?

Accepted Answer

Statistically speaking, most holiday homes are only used by the owners for 8 to 10 weeks a year. Despite this, owners have to bear all the costs and maintenance expenses alone. MYNE changes this.

4 reasons MYNE Co-Ownership makes sense:

01 | Your dream holiday home for an eighth of the price
In popular locations, the prices for holiday homes have risen dramatically in recent years, as have running and upkeep costs. With MYNE Co-Ownership, two to eight Co-Owners jointly own their dream holiday home, and share the costs of purchase and maintenance costs proportionate to their share.

02 | Fair cost-benefit principle
As mentioned, a significant number of homes sit empty the rest of the year – which isn’t good for the home, the community, or the environment. Shared ownership offers a "bite-sized" piece of property ownership that is tailored to your usage and cost needs.

03 | Arrive & enjoy
Buying and maintaining a holiday home can be much trickier than purchasing a primary residence, due to the physical distance, language difficulties, and legal and tax complications. The year-round effort is not in proportion to the actual usage of the property. MYNE handles everything for you, from operation, professional management, and property maintenance so you can simply arrive and enjoy!

04 | Tried and tested
Co-Ownership is already common for yachts and private planes. People have realised that the high cost of acquisition and maintenance are out of proportion to the typical usage, making Co-Ownership a sensible alternative.

Question 2

Is Co-Ownership new?

Accepted Answer

Co-ownership of holiday homes has become widespread in the USA and Scandinavia in recent years. The concept is also well established for yachts and private planes, where we have seen that the high costs of purchase and maintenance are out of proportion to the typical use. Co-Ownership is a sensible alternative - with the advantages of ownership and a better price/performance ratio.

Question 3

Am I really the owner?

Accepted Answer

You are a Co-Owner in a shared purchase deal (sometimes called fractional ownership). A registered company is entered into the land register as the property owner, and you purchase shares in this company. With this purchase, you become a shareholder, and, therefore, a pro-rata property owner.

Question 4

What is the difference between Co-Ownership and Timeshare?

Accepted Answer

With a traditional timeshare, you buy the rights to live in an apartment in a holiday complex, or a hotel, for a certain period of the year. However, this isn’t ownership, but rather a kind of pre-paid holiday rental and, therefore, consumer expenditure. With MYNE, you become a property owner in a shared purchase deal, with all rights in proportion to your shares.

Question 5

How do I ensure I can use the property in my preferred times?

Accepted Answer

We know how important it is that all MYNE Co-Owners can use their property equally, and as they need it, according to their preferences. Here’s how we do this:

01 | Properties for year-round use 
All MYNE homes are located in regions with good infrastructure (including shops, restaurants, and bars with off-season opening hours). In addition, all homes are equipped for all seasons, e.g., with a pool, sauna, gym, and fireplace.

02 | Co-Owners with compatible usage needs
MYNE brings together owners whose needs are compatible. For example, families with school-age children from different regions (so they don’t have the same school holiday times) are paired with couples without children, or families with adult offspring.

03 | The MYNE reservation system - simple and fair
To ensure fair distribution of property usage between Co-Owners with compatible usage needs, the MYNE reservation system has transparent reservation rules.

Question 6

Who is responsible for managing and maintaining the property?

Accepted Answer

Become a Co-Owner of a MYNE holiday home and benefit from professional management and maintenance of your property. While you maintain the day-to-day control of the property, MYNE takes care of the administration so that you can have an unforgettable and relaxing holiday.
Whether with family, friends, alone, or remote working, MYNE holiday homes are perfect for any needs – full service included.

Use your owner app to book your stay and add any additional services you require. When you arrive, your personal belongings will be out of storage, and the fridge will be stocked on request. As a Co-Owner, you can sit back, relax, and enjoy.

Question 7

Do I have to coordinate with the other Co-Owners of my home?

Accepted Answer

No, you don’t have direct contact with the other Co-Owners. MYNE takes care of everything for you, including all administrative tasks and the coordination with other MYNE Co-Owners. You can just relax and enjoy your holiday home.

Question 8

What are the running costs?

Accepted Answer

The monthly costs for the operation and maintenance of your property are shared by all Co-Owners. To allocate these costs transparently and fairly, MYNE draws up a budget for each property, which forecasts the expected expenses, and is then approved by the Co-Owners.

The monthly maintenance and administration costs are divided into three categories:

01 | Consumption-based costs (paid according to usage), for example:
- Electricity, water, heating
- Cleaning
- Laundry

02 | Fixed costs (paid according to number of shares), for example: 
- Non-consumption operating costs, for example, insurance
- Maintenance and upkeep, such as pool and garden maintenance
- Maintenance reserve, for property and inventory
- Administrative costs for the property holding company, for example, bookkeeping

03 | MYNE Service free
- Professional and value-orientated management of the property
- Co-Owner coordination
- External service provider coordination
- MYNE owner service

Question 9

Can the property be let?

Accepted Answer

In principle, your share is your property. This means you can decide if you wish to use the property for the available period or let it out, as long as you do not put the other Co-Owners at a disadvantage, and the property has a rental licence. You can let friends or family stay there without having to be there in person. Whether you take a fee from them is up to you. However, we also provide a professional letting service to external third parties.

Question 10

How is the property furnished?

Accepted Answer

MYNE homes feature intelligent room concepts with premium materials, practical functionality, and stylish design. Each MYNE home benefits from an individual upgrade plan and final interior living concept, based on location and condition. The sustainable upgrades feature timeless design, highest quality standards, comfortable and functional elements. We pay particular attention to:

- Stylish and functional interior design in keeping with the property location and style
- Premium, durable materials
- Top-quality furnishings, ready for immediate use

Question 11

How do I become a Co-Owner?

Accepted Answer

Choose your dream holiday home. From a villa with a sea view to a chalet on the ski slopes, or a secluded country house – all in the most popular European holiday locations. All properties are newly renovated, with high-quality interior design, and are ideally equipped as holiday homes or second homes.

Personal consultation
We arrange an individual meeting to answer any questions about the concept of "Managed Co-Ownership". Your newly-created search profile enables us to show you holiday homes that match your wishes and requirements. You will also receive further information about the properties, such as location and an overview of the costs, and can view a video of the property.

Get to know your dream holiday home
We bring you a step closer to your holiday home, with an individual viewing – via video or on-site. Meet our team at the property and get a guided tour. We can answer all your questions about the property, the interior design and upgrade concept, and the MYNE 5 Star Service.

You become the property Co-Owner in a shared purchase deal
In a detailed pre-contract meeting, we will go over the contractual details, and then send you the documents for your careful review. You will share the property purchase costs, and ongoing maintenance costs with up to seven Co-Owners. As the true property owner, you benefit fully from the potential appreciation in property value, in proportion to your investment. You can use the property according to your share, or rent it out, with our assistance, if required.

Relax and enjoy your home away from home
MYNE handles all property administration tasks, including coordination with your Co-Owners, property maintenance and upkeep, and communication with authorities. Use the MYNE owner app to book your stays and add any additional services. When you arrive, your personal belongings will be out of storage, and your favourite wine will be chilling in the fridge. You can simply relax and enjoy your stay.

Access a world of dream holiday homes
With just one share in a MYNE home, you can access an entire portfolio of dream holiday homes in the most beautiful European locations. On request, you can swap holidays with other MYNE Co-Owners in other places, and explore other properties under MYNE management. If you discover your property isn’t right for you, or your preferences change, the MNYE Satisfaction Guarantee means you can simply exchange your property share within the first 12 months, or sell it after the first year.

Question 12

What about tax implications?

Accepted Answer

MYNE handles the general tax management of the property, including regional taxation of income from letting and leasing in the respective countries. We worked with renowned tax and law firms to develop a structure that is optimised for holding and managing holiday homes at home and abroad. This structure helps avoid typical pitfalls. At the end of each year, you will receive a detailed document that you can pass on to your tax advisor. We would be happy to explain the details to you in an individual meeting.

Question 13

Can I swap my holiday dates with Co-Owners of other MYNE properties?

Accepted Answer

As a Co-Owner, you can take part in the MYNE exchange programme to swap your holiday dates with other Co-Owners. Choose your preferred MYNE destination, select a holiday date and duration, and determine property features (e.g., number of bedrooms). The MYNE Owner Service will then search for Co-Owners in suitable MYNE properties who would be willing to swap stays with you.

Question 14

Can I sell my share?

Accepted Answer

After a holding period of 12 months, you can sell your share at any time. We can help you find a new buyer. Or perhaps one of the other Co-Owners will want to acquire your share directly.

Answers to your questions