There are many differences between Wecasa and the traditional timeshare model, but some of the key differences are:You own the home: You share ownership of the home, and can sell your ownership interest and receive the benefit of any appreciation in value. With timeshares, you typically own the right to use the property for a specific period of time. Since you don’t share in ownership of the property and the market is often saturated, timeshares can be difficult to sell and consequently may depreciate.Unique homes: Timeshares are known for pushing low quality spaces (read: hotel rooms), depending on the development you may not even stay in the same unit each visit. Each Wecasa is a distinct home with unique property features that will lead to special vacation experiences and traditions.Modern experience: Wecasa is uncompromisingly committed to an effortless, luxurious experience for you when it comes to purchasing, enjoying, and selling your ownership interest. Wecasa owners use our simple app for booking, customer service, and accessing the home, which enables a flexible and convenient co-ownership experience that’s unmatched by timeshares.
You are purchasing a share in a Limited Partnership (LP) that directly owns the property. Each home has eight shares and the fraction of the home you own depends on the number of shares you purchase.
Yes. WeCasa buyers can finance up to 70% of the price of their purchase. Some buyers also choose to pay in cash or use other sources of capital like a home equity line of credit.
The process is similar to a typical real estate purchase.1. Once you’ve found a home you’re interested in, you can schedule a call with a WeCasa team member who will be available to help you through every step of the process.2. If you choose to apply for financing, we will help you through our straightforward pre-qualification process.3. Once approved, you will provide a 10% fully-refundable deposit and sign a Purchase Agreement to secure your share(s) in the home.4. You’ll then be asked to review and sign 2 additional documents: (i) the LP Operating Agreement that outlines both owner and WeCasa responsibilities, financial terms, and all other the rules of the LP; (ii) the WeCasa Code of Conduct, which outlines everything you need to know about using your WeCasa home.5. Once you’ve reviewed and signed all documents, we move forward with all closing documentation and delivering ownership certificates.6. You’re done! Book your first visit using the WeCasa app and start enjoying your home. Our local Home Manager will be there to give you an orientation.
Wecasa requires that all prospective purchasers first complete a short questionnaire and online background check to verify suitability as a co-owner in a Wecasa property. If a co-owner defaults or does not observe the agreed upon usage terms of us, Wecasa will step in and take necessary action on behalf of the co-owner group
Homes are sold/purchased as is unless mutually agreed upon at the time of co-ownership setup. At any point, should you and your other owner(s) decide updates or upgrades are necessary, Wecasa will help to oversee the process and can provide introductions to trusted professionals.
An Available listing is a home with shares immediately available for purchase through WeCasa.A Pending listing is a home we believe meets the standards of a WeCasa property that we are considering purchasing and turning into a WeCasa, pending a high level of interest from our buyers.
Stays at your Wecasa are booked using Wecasa's easy-to-use app. Property access is proportional to your ownership interest and there are a number of scheduling rules which ensure equitable use of the property by each owner; these rules govern the maximum length of any stay, holiday dates, and peak season usage where applicable.
Wecasa facilitates re-financing for you and your co-owner through our partner banks. Please contact us for more details on financing options.
Your monthly operating expenses will be automatically processed securely by Wecasa and our partner banks. Receipts and billing information will be easily accessible via the Wecasa app.
Wecasa oversees the day-to-day detail of managing the property on behalf of the co-owners, this means that you don’t need to worry about paying utility bills, scheduling cleaners, or winterizing your irrigation. This allows us to maintain a consistent level of service and quality assurance and is part of our commitment to removing all of the hassle from vacation home co-ownership.
Wecasa ownership is a full service ownership experience.Our services include:• Access to the Wecasa App to provide a seamless digital experience to Wecasa owners• Managing all monthly expenses and taxes, processing payments and providing statements through the App• Conducting legal admin and resolving any disputes between the wecasa owners• Contracting and overseeing Property Managers• Providing tax forms and handling property tax payments• All maintenance, cleaning, landscaping, pool maintenance and any necessary services
Routine decisions can be made without the consent of the wecasa owners (E.g. minor repairs or replacing furnishings due to regular wear and tear). Material changes (like upgrading a hot tub) require a co-owner vote for the expenditure and co-owner expense contribution.
This will be a decision made between you and the other co-owner(s) at the time of legal setup so long as there are no local regulations prohibiting short term rentals.
The Use Protocol also outlines prohibited activities such as disruptive parties or the unauthorized use of your available days to third parties.
The allowance of dogs is one example of a term to be determined jointly by the co-owning parties at the time of legal setup.
Yes, each Wecasa owner gets a dedicated storage space to keep some personal belongings at the property - this is your home, after all.
Payment of property taxes and annual tax forms are included in the full service wecasa ownership experience. Property tax payments are included in your monthly operating expenses.
Your home is only accessible to approved wecasa owners that have a shared interest in protecting the home. You are not personally responsible for damage caused by other Wecasa owners or their guests. Homes are inspected before and after each visit to ensure any damages are charged directly to the Wecasa owner responsible.
Operating costs are shared proportionately between wecasa owners and are automatically processed monthly. Expenses can be transparently viewed in detail through the app.
An annual estimate of operating expenses is completed every year and you pay the same amount each month. Since actual costs of operating the home fluctuate month over month, a reconciliation is completed at the end of each year and the difference is either credited or collected from the Wecasa owners.
Ready to move on? Wecasa and its agent partners can help you sell your 50% ownership. Simply list with your agent or one of your partner agents and we will facilitate the vetting and onboarding of the new owner.
There are real estate commissions, associated transaction fees, and a wecasa fee deducted from the final sale price.
Yes, as a Wecasa owner there is potential for you to realize gains from appreciation.
440-355 Burrard Street, Vancouver, BC, V6C 2G8
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