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

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 3

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 4

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 5

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 6

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 7

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.

Nikolaus Thomale: Luxury Real Estate for Everyone?

Nikolaus Thomale: Luxury Real Estate for Everyone?

Register to explore dream holiday homes

The Idea Behind MYNE

Why MYNE Co-Ownership?

Our most popular dream holiday homes in Europe

MYNE Concept

Register to explore dream holiday homes

Nikolaus Thomale: Luxury Real Estate for Everyone?

Nikolaus Thomale: Luxury Real Estate for Everyone?

The Idea Behind MYNE

Why MYNE Co-Ownership?

Our most popular dream holiday homes in Europe

Register to explore dream holiday homes

MYNE Concept