What the investment and maintenance costs of a co-owned home look like

Owning a second home is a big responsibility, and of course you need 100% clarity before making the decision. At Legria we are committed to being completely transparent, so you become a co-owner with all the information at hand and no unpleasant surprises later on.

It is worth mentioning that, while finding your ideal home, you will be guided by someone from our team who will give you a breakdown of the associated costs. Meanwhile, to give you a better financial understanding of our model, here are the 3 most important points:

• Price per share
• Monthly costs
• Legria management

Setting the price per share

When you browse Legria homes on our website, the price shown is the cost of owning ⅛ of the house. If you want a bigger stake, multiply that price by the number of shares you want to buy, up to 4 (to own ½ of the house).

The share price is determined by adding the following costs:

• Property price: The base cost, which is the amount Legria paid to acquire the property on the real estate market.
• Renovation and professional design: Legria homes are spaces designed for you to create your best memories. That is why, with the help of professional designers, we give them a touch of genuine comfort and beauty. This includes top-of-the-line appliances and technology, furniture with the finest finishes, artistic decor, and everything you need to enjoy a unique experience.
• Legria margin: This is a one-time payment that covers the work of turning a regular house into a Legria home. It includes searching for, selecting and acquiring the house, then setting up the company and the full legal structure that allows it to operate as a co-ownership, and finally all the decoration and furnishing work. It also covers finding other qualified owners and educating them on how the co-ownership model works. Lastly, it includes supporting the client throughout the purchase of the share and the signing of the legal documents.
• Documentation and closing: This covers the legal costs of acquiring the property and the title review, brokerage commissions and technical inspections.

On our website you can see the cost breakdown for each Legria home. For homes labeled “Coming soon” or “Prospect”, the same pricing criteria are used, but the price may vary slightly once they become available. This is because renovation and design costs are not known exactly until the project is 100% complete.

Your ideal home, always spotless

Like any home, being a Legria owner comes with bills and expenses. These costs make sure that arriving at your home always feels like the first time. Since Legria manages the house, you don't have to worry about anything: paying the bills, cleaning and maintenance, and even property taxes. Forget about the headaches.

The monthly costs incurred each month are divided by the number of shares and charged to each shareholder:

• Routine and preventive maintenance: Depending on each property, this may include gardening, pool and heating maintenance, pipe cleaning, etc.
• Property management: A professional management service, with smooth and direct communication, that takes care of the day-to-day needs of each house, for example issues with utilities or malfunctioning equipment.
• Cleaning: Each house is inspected and deep-cleaned after every stay. We also restock all supplies, such as kitchen and bathroom essentials.
• Utilities: This includes gas, electricity, water, garbage collection, internet/TV — everything a functional home needs.
• Taxes and insurance: Legria takes care of paying the property's taxes and insurance.
• Reserve fund: Naturally, things wear out or break with use. For this, Legria keeps a reserve and takes care of replacements, or even rebuilds if necessary.

Each month, co-owners are charged their share of the total expenses incurred in the previous month.

Leave all the management to us

While owning a second home brings a great deal of happiness, managing it takes a real toll and can sometimes end in headaches. The usual plan for traditional owners is to use their second home only a few weeks or months a year, and rent it out the rest of the time.

With Legria you forget about the problems and leave all the management in our hands. To make this possible, we include a monthly Legria Program fee equivalent to UF 2.5 (or less in some cases), which covers services such as:

• Access to an app for flexible and fair booking, where you will also find the breakdown of the property's total expenses and how they are split among shareholders.
• Management of the property's expenses and taxes.
• Management of the company that owns the property.
• Resolution of any issue between owners, the community or the authorities.
• Ongoing optimization and innovation of the Legria App and other technologies.
• Dedicated support.

This fee is fixed and does not increase every year. At Legria we aim to offer you the fairest and most efficient way to cover the costs of your second home, so your experience as an owner is full of joy.