Your questions answered in one place
Frequently asked questions
We strive to be transparent and innovative. Therefore, it is in our interest that you understand the entire process offered by the Rezidente concept as best as possible.
Obsah
Buying
Ownership
- By purchasing a share in the Rezidente company, the customer buys property ownership in the range of ⅛ to ½.
- However, the entire property is owned by one company, which is created in Slovakia.
- The owner thus buys a share in the company that owns the given property.
Timeshare
● There is no timeshare for the resident.
● Our system is personalized for a specific owner and displays available dates of stays in real time.
● Timeshares typically operate based on fixed residency weeks or other scheduling restrictions.
● Priority order (prioritization of other co-owners) and other practices that disadvantage other owners also often apply.
Monthly costs
● Each property owner pays monthly fees.
● Fees vary depending on the specific property.
● The price of fees is also determined by the size of the share owned, the larger the share, the higher the fees.
● Monthly fees include:
○ property tax
○ cleaning fee
○ asset management
○ maintenance
○ fee for administration and services to the Resident
○ insurance
○ repair fund
○ service fee
Is this a normal real estate transaction?
● No, this is not an ordinary real estate transaction.
● Residents use a form of real estate transaction called “share deal”. This means that the real estate itself is not being sold, but a share in the company that owns it.
Can I buy more than one property share?
● Yes, you can buy more than one property share.
● The number of nights you can spend in the property then depends on the number of shares you own.
How is the equipment of the property?
● Rezidente cooperates with professional interior designers and quality suppliers. Each house is carefully equipped with everything needed for cooking, relaxing or other activities in the property for the maximum satisfaction of the owners.
If the value of the house increases, will the value of my share also increase?
● Yes, there is a correlation between house price and share price. If the price of the house increases, the value of your share will also increase.
Can I buy a share of real estate with relatives?
● Yes, you can buy a property share with relatives, partner or friends.
Is it possible to buy a share in real estate as a couple or with relatives?
● Yes, you can buy one (or more) jointly owned shares as a couple or with relatives.
Is there a step in your process when the co-owners meet?
●No formal meeting between co-owners is planned in the purchase process. However, it is completely possible.
Can I use the entire residence when buying a share?
● When booking a stay in the Rezidente residence, you can use the benefits of this property yourself. Your co-owners will benefit from the property during the stays they have booked. In other words, you will never stay in your property at the same time as the other co-owners. On the other hand, you can of course invite relatives when you stay in your second home.
Do I own furniture in addition to land and a house?
● Yes, when you buy a share through the company Rezidente, you also buy the equipment that makes up the house. When you buy one share, you own 1/8 of the value of the furniture and equipment of the house.
Do I have to wait until all the shares are sold to use my assets?
● No, if you buy one of the 8 available shares and the property is already owned by the company, you can start using the property.
What guarantees me that the property I am buying is in good condition?
● When Rezidente acquires a property, dozens of checkpoints are confirmed. All necessary work is systematically budgeted and carried out before handing over the goods to our customers. An external expertise, covered by insurance, is also carried out, which verifies the quality of the construction of the property and identifies any points that need to be watched over in the coming years.
Is the house fully equipped upon arrival?
● The house is completely furnished and laid out by our interior designers and equipped with everything you need on a daily basis: dishes, bed linen, towels, bathroom products…
Planning your stay
Is it possible to plan a reservation "from day to day"?
● Yes, with Rezidente’s reservation system, it is possible.
How many days a year am I entitled to be in the property?
● Each share (1/8) allows access to a total of 44 nights, which are divided between individual seasons:
● High season has 56 nights, which represents a minimum of 7 guaranteed nights per co-owner. The specific period of the season is specifically set for each property, according to its location. Some properties may even have two main seasons.
● The middle season has 64 nights and is divided into two parts (32 nights before and 32 nights after the main season). The specific period of the season is specifically set for each property.
● The off-season period is usually 232 nights, which is 29 nights per co-owner. The off-season period is individual for each property based on the setting of the main and mid-season.
– The more shares the co-owner buys, the more the total number of nights increases (2 shares = 88 nights, 3 shares = 132 nights, 4 shares = 176 nights). The total number of nights is 352. The remaining number of days per year is used for property maintenance and seasonal cleaning/modifications in the absence of co-owners.
What is a special stay and how many special stays can I book as a co-owner?
● Special stay includes holidays and individually selected special dates (anniversaries, birthdays, etc.). Co-owners can use one special stay date (two-day stay with one night, starting on the date of the special stay) for ⅛ share per year. The special stay is selected exclusively for the upcoming calendar year. The rotating reservation model ensures rotation of special stays so that everyone can regularly use the most popular dates (holidays) of the year.
Is it difficult to book a holiday period?
● No it’s not. The set conditions ensure a fair distribution of the time spent in the property among all co-owners as well as a fair rotation of the most popular dates of the year. Our own smart reservation system enables simple and transparent planning through reservations up to 24 months in advance. The set conditions guarantee all co-owners a stay in every main season and a regular, fair rotation of special stays, such as Christmas and the like.
What long stays can I use as an owner?
● Each co-owner can book a stay from a minimum of 2 nights to a maximum stay of 14 nights.
Isn't it difficult to plan a stay in a property that I co-own?
● Thanks to our reservation system, no, it is not. The system is extremely transparent and works in real time. This means that when searching for your appointment, you can see in real time whether your appointment is booked or not. So you will not be in the situation where you would receive a warning after booking the date: This date of stay is no longer available. If you see in the application that the date is free, then it really is free and you can easily make a reservation according to your preferences.
If I cancel my stay, can I keep my days and use them later in the year?
**The cancellation rule is simple:
● If you cancel your stay more than 30 days before your arrival date, no nights will be deducted.
● If you cancel your stay less than 30 days before your arrival date and no co-owner takes over your dates, your stay may be deducted from the remaining nights, even if you do not use the house.**
What are the arrival and departure times?
These times vary from property to property depending on the length of cleaning between stays. The standard arrival time is set at 15:00 and departure at 11:30.
Sale
What happens to the furniture when I sell my share?
● The furniture delivered with the house remains in the house.
Can I sell my share?
● Yes, you can sell your share at any time. You can freely set a selling price that suits you and you have the option to sell the share with your own funds or with our support.
What are the costs and expenses associated with selling my share?
● If you sell your share without our help, we will not charge you any fee.
How long does it take to sell a house through the company Offer your villa to Rezidente?
● The sale will be completed on average within a few months, just like a classic real estate transaction.
How is the selling price of my share determined?
● The company Rezidente will recommend the market price, but the seller always has the final say.
Can buyers negotiate the sale price?
● Yes, buyers have the right to negotiate prices according to market developments. As the seller, you determine the selling price and therefore have the option to accept or reject any offer. If you sell through our platform, we will advise you on a suitable price considering the current market situation.
Do the other co-owners have to approve the new co-owner?
● No, co-owners do not have the right to decide in this matter.
Ownership
Can I bring pets with me?
● Yes, you and your guests can bring pets (which are not dangerous). You are responsible for any damage they may cause.
Can I smoke in the property?
● No, smoking is not allowed inside the property.
What if one of the property owners is late paying or doesn't pay at all?
● You are safe. These costs are taken over by the Resident and you are therefore covered and can enjoy your dream second home without worries.
What is the role of the property manager?
● Each region has a dedicated property/house manager to assist owners with planning, housekeeping, special requests and other issues related to stays and properties.
What happens if one of the owners damages the property?
● The properties are inspected after each visit. Any damage beyond normal wear and tear is charged to the owner who was using the house at the time. Damages that are normally caused by wear and tear = damaged dishwasher, washing machine, broken light bulb, etc. Damage beyond the scope = broken window, pavement, etc. Owners are not directly responsible for malfunctions of objects and things that have a limited lifespan and that need to be repaired or even replaced over time. These replacements are paid from the reserve fund of the company that owns the property.
Can the owners terminate cooperation with Offer your villa to Rezidente?
● Yes, they can. A resident may be dismissed from the position of property manager. The owners themselves have to act and vote on it, with the knowledge of the house manager.
Who is responsible for the maintenance of the grounds?
● Maintenance is taken care of by the Resident, including tree trimming, gutter cleaning and pool maintenance, through local companies and their professionals.
I understand that Rezidente takes care of routine maintenance and repairs: what is included in these costs?
● Rezidente performs all necessary maintenance to keep the property and its equipment in the best possible condition. Costs are transparent and payment is made in advance.
Who is responsible for property security?
● The company Rezidente is responsible for the safety of your home. You can be sure: the house is equipped with an alarm and Rezidente has a contract with a security agency.
Will the property be insured?
● Yes, the property is insured.
Is it possible to leave personal belongings at the place?
● Yes, of course, each co-owner has a secure personal locker (its size varies depending on the property). Some houses also have a common storage area for large items (bicycle, sports equipment, stroller, etc.).
Can Rezidente make changes to the Owners Operating Agreement?
● In order for Rezidente to always better meet the expectations of co-owners, it is led to develop both the Agreement with shareholders and its administration services. These changes may be subject to approval by the general meeting of co-owners.
What happens when a co-owner's property is seized?
● Ak spolumajiteľovi nehnuteľnosti zabavia majetok, môže sa to dotknúť aj jeho spoluvlastníckeho podielu. Ak veriteľovi nepomôže zabavenie iného majetku dlžníka, môže prísť na rad zabavenie spoločenského podielu.
Vtedy má dlžník možnosť svoj podiel predať dobrovoľne. Ak tak neurobí, súdny exekútor ho predá na dražbe. Ostatní spoluvlastníci tým nie sú dotknutí.
Estimated costs
What are the monthly company management fees in the Resident program and how much are they?
● The monthly fee for Residents is €99/month. This fee covers the costs of managing the company that owns the property, organizing the annual general meeting, accounting, managing certain administrative procedures, remuneration of staff necessary for operational management and support, as well as technology developed to optimize the customer experience.
What are the other monthly fees?
● The monthly fees correspond to the operating costs of the property and are invoiced at purchase prices in proportion to the number of your shares. It means:
● Administrative fees: real estate tax, housing tax, household waste collection fee and household insurance.
● Operating fees: bills for water, gas, electricity, heating and internet and possibly for garden and pool maintenance.
● Maintenance package: minor maintenance work, replacement of furniture and accessories
● Work package: facade renovation, roof repair, etc
Can Rezidente increase the monthly management fees?
● Not! With Rezidente, you won’t have any unpleasant surprises, we don’t change the rules on the fly. The management fees we charge are a fair reflection of the work Rezidente teams need to manage each residence. Nothing more, nothing less.
How to cooperate with us
Does the real estate agency pay the Resident a commission?
● Yes. The resident cooperates with real estate agents and pays a standard commission.
How do commissions work?
● There are different commission schemes in each region.
When will I receive my commission?
● You will receive payment after the sale of your share is completed.
Do I have to wait until all shares in the real estate are sold for the commission to be paid?
● No, the commission will be paid to you immediately after the sale of the share.
What are the advantages of selling my property through the Offer your villa to Rezidente model?
There are several advantages:
● Possibilities to speed up the sale of the property and, in addition, to have the opportunity to continue to be the owner of part of the property, if you are still interested in it.
● You no longer have to worry about house management.
● You can reduce the monthly maintenance costs accordingly.
My property is showing as Pre-Sold. Will you make an offer to buy it?
● If we find that there is sufficient interest in your property on the market from our network of buyers, Rezidente will submit an offer to purchase your property.
I am not familiar with the Offer your villa to Rezidente process. How does this model work compared to a regular real estate sale?
● The documentation and process is similar to selling an entire home. However, you will receive a light commission because Rezidente handles everything, including inspections, searches and safekeeping – and we keep you informed the whole time.
Why cooperate with Rezidente?
● We bring our partners new business from the sale of luxury real estate, or their shares, which, thanks to the price or full service, many more existing or new clients will want. Partner real estate agencies receive up to a commission from the value of each share they sell immediately after the sale of each share (they can sell more than 1/8 shares in one property).
How is the cooperation going?
● We will provide you with maximum sales support in the form of materials for online and printed materials, product workshops, etc. Each property will soon have a perfect video presentation, including a presentation of the location, etc. The Rezidente team will provide the inspections, closing and settlement of the deal, comparable to a classic real estate transaction.
Sale of your property
What properties does the Resident buy?
● The property is located in a popular recreational area.
● Good location/orientation of the property.
● Excellent construction and technical condition of the property (subject to technical inspection).
● Real estate acquired legally, there are no disputes about its ownership. (subject to due diligence).
● Interior equipment is subject to individual assessment, we can also buy the property with furniture, if it is new or in good condition.
Why should I sell (part of my house) my vacation property to a resident?
● Do you have a relationship with the property, did it create your memories? Nothing will change about that, you will continue to be able to use it with your family and you will keep the keys, you will co-own it. The memories will continue to be made. In addition, we always offer a reasonable price and we implement the acquisition quickly.
How does sales work?
● A legal and technical inspection of the house is carried out. As soon as we agree on the price of the property, we will quickly buy the entire property from you. At the same time, you can become a new co-owner of ⅛ to ½ of the house through the company that newly owns the house, and you can continue to enjoy the property.
What happens to the equipment of the property?
● We can buy the equipment of the property if it is in good condition, otherwise we will furnish the property with new furniture and retrofit the missing equipment (electronics, sauna, etc.)
Your holiday home is waiting
Own a piece of paradise
Take the important life step to owning a vacation home. We are very happy that we can turn this dream into reality for you. We are here to support you, explain and provide all the relevant information you need to achieve your dream.
Your team Residents
