Most people expect the purchase of a second home to unleash vacation freedom. In reality, second home owners are often hit with an undue burden on their time, negative cash flow from maintenance and holding expenses, and the stress of knowing their home either isn’t being used often enough to justify the expense – or is being used by strangers who have no regard for their property.
The trend is to rent the property on the short-term market to recoup expenses. Short term rentals require constant marketing, correspondence, cleaning, and sometimes excessive maintenance. Fielding neighbor complaints, repairing damages to your property, and a sense that there’s always something that needs to be done can make renting out your second home feel like a second job. Hiring property management companies to handle those problems will cost 20% to 30% of the rental income. Vacancies, platform fees, and licensing fees can further decrease the return.
As for vacation freedom? Many second home owner’s express a sense of obligation to always choose their second home as their travel destination in order to realize the value of the investment. By doing so, they limit their options to explore and experience new locations.
There’s a better model. In this era of collaborative consumption, you can pay for only what you use and capitalize on the resources of others to expand your opportunities. When several people combine their investment capital, they have considerable buying power. For roughly the downpayment on a single luxury condo, a Laurian investor can co-own a portfolio of 18-20 professionally managed, luxury homes that offers ownership privileges, provides lifestyle dividends, and diversifies risk at a fraction of the ongoing expense of investment home ownership – with none of the work.
Laurian properties are operated by a tenured staff who have been managing the homes, lifestyles, and travel logistics of high profile, high net worth individuals at a 5-Star level for decades. All of the arrangements will be handled, the maintenance taken care of, pantries stocked, and bills paid. Our concierges can arrange private chefs and personal staff, book excursions, and suggest local events. You’ll receive a 5-star hotel experience in a home that you own.
Annual maintenance fees are set. Property management, utilities, maintenance, and repairs, are all covered. Our asset manager will handle all of the business of the properties; filing taxes, maintaining permits, tracking inventory and value, and reporting to investors. There’s nothing for a Laurian Club investor to except choose their dates and show up at any of our portfolio properties or one of over 13,000 partner homes. It truly is effortless second home ownership.