 |
 |
|
| Hello
Welcome to yours2share's September 2008 newsletter. This edition considers how sharing can mitigate the effects of the credit crunch, and through a case study, improvements to the website and templates contracts shows how yours2share helps people to find like-minded compatible partners to create a wide range of sharing agreements.
Sharing and the credit crunch How is the credit crunch affecting yours2share? I’ve been asked many times. Overall, it hasn’t made any significant difference, but the number and type of ads in some categories have been affected. The biggest single difference is unsurprising: there are few new ads for fractional property developments in the USA. I understand that several major hotel chains are about to move into fractional ownership, but I’m not seeing them advertise yet. The other change is subtler: a reflection of people taking stock and acting prudently. If they can see a way of raising capital or creating income without affecting the way they live, then they are investigating ways of doing this. Sharing is one way and posting an ad with yours2share is the first step. There has been a rise in the number of ads where the outright owner of an asset, particularly boats or properties, is selling a half or third share: these types of ad were rare when I started yours2share and there are now a fair number. As with all sharing agreements, provided you find a like-minded compatible partner, this is a relatively painless way of extracting capital from an asset, whilst still enabling the owner to use it, probably as much as before. It also reduces running costs, always helpful. The range of properties being advertised for Monday to Friday rentals has also widened. Traditionally these were almost all in city centres, and a great many were the second bedroom in a two bed flat. Whilst city centres hold many large employers, the demand for Monday to Friday rentals occurs wherever people work including towns and suburbs across the country. yours2share now has a much wider range of locations and type of property available for Monday to Friday lettings: many of the properties are large family houses. Several members posting ads for weekday rent have rung me recently and most are considering taking lodgers for the first time: weekday lodgers are more attractive because they are not around at weekends and have less clutter. There are fewer weekday rooms available in city centre two bed flats: I suspect that these owners have found they need to rent permanently to maximise their income to pay for increased mortgage costs. If you are looking for ways of releasing equity or creating income by sharing, do contact me. Case study: sharing a Jeanneau Sun Odyssey in Spain This case study is a good example of an owner selling a share in his boat whilst retaining a large share. It is an example of like-minded compatible partners creating a great sharing arrangement. Thunderbolt is a Jeanneau Sun Odyssey 37 moored in San Pedro del Pinatar, in Murcia, Spain. 75 per cent of the yacht is owned by one person, who only wants to use the boat for two or three specific weeks of the year. To avoid Thunderbolt being moored up for the rest of the year, a 25% share was sold to four friends, who have now split their shares even further. Although it is more common for the shares to be equal, they don't have to be. The arrangement is based upon the eight owners of the 25% share using the boat together, rather than each owner having sole use of the boat when it is their turn. The details of this sharing arrangement are available in this case study. Improvements to yours2share We have been working on some improvements to yours2share over the last few months and they are now released. Most changes are a direct result of comments from users and will enable members to find like-minded compatible partners.
Guidance and template contracts yours2share has extensive guidance to help people to find like-minded compatible partners in order to create their perfect sharing arrangement. One of the most important sections of guidance is the four sections explaining what needs to be covered in a trust deed or sharing agreement. Together with Net Lawman, we’ve created nineteen template contracts for fractional ownership and fractional rent so far, with specific templates for property, boats, aircraft, horses, swimming pools, cars, motor homes and motor bikes. The contract is written proof that that the partners really are like-minded and compatible. And finally, here are a few of yours2share's recent ads that I really like:
We are always delighted to receive feedback. Kind regards Sophie Garrett yours2share share valuable assets with like-minded people |
