FAQ
Your questions answered.
General Questions
No, it is completely different. Timeshare grants you ownership of a specific time period in a property, while Partment grants you ownership of the property itself, combined with booking flexibility.
Partment offers a seamless solution for acquiring your ideal second home, completely hassle-free for a fraction of the price. You have the opportunity to co-own with up to seven others, while we take care of all the property management and maintenance. We ensure its livability and quality over time, so the only thing left for you to do is to enjoy your new vacation home.
Yes! After 12 months, you can sell your share and exit your investment through our platform.
Our smart booking system (SBS) is at the core of our technology, and we are constantly working to improve it. Every co-owner has an unbiased, algorithm-powered quota based on the total number of nights.
You can own it for as long as you would like to. This is a lifetime ownership.
No, it's not. You pay the price of the share only once, for a lifetime of ownership
Yes, Partment allows you to rent your unused days independently. All you need to do is to book your days on our Smart Booking System (SBS) to ensure that the property is cleaned before & after the stay while avoiding any possible mix-ups with the other co-owners.
Co-ownership means you and other people jointly own the same property through an LLC operating agreement. You fractionally share the number of days throughout the year as well as the costs of the property and maintenance. You just inform one another of your intended visits through our smart booking system.
The property co-owners in Partment have secure legal protections for their rights, ownership and immune from any financial eventuality of Partment. They can freely decide whether to retain or sell their share, and in the event of company bankruptcy, they can opt for an independent property manager or choose to handle it themselves. Our legal and tax framework has been tailor-made in partnership with renowned legal firms and one of the top four tax consulting companies in the world.
Buyers Guide
Partment will personally vet the co-owner preferences and conduct background checks to select the appropriate cohort of co-owners for each property. This can help ensure that property access demand is fair and evenly spread throughout the year.
Yes, Partment arranges viewings for each property on sale. It is important to us that you feel connected and inspired when choosing your next vacation home that best suits your interest.
Partment will be accountable for meeting the industry-standard quality check for the construction quality of the property and any of the furnishing works. Any necessary warranty information will be shared with the co-owners as applicable.
Unfortunately, at the moment, we only have properties available with access on our platform. However, we kindly request you to contact us with your specific needs, and we will consider incorporating that capability in the near future if there is sufficient demand for such products on our platform.
Yes, Partment arranges viewings for each property on sale. It is important to us that you feel connected and inspired when choosing your next vacation home that best suits your interest.
We can check the legal aspects of joint share ownership for couples and facilitate it as and when possible for a given number of shares in a property.
A co-owner can purchase a maximum of half the total shares per unit.
Yes, we have partnered with Amenli, one of the leading global brands with a distinguished reputation, to provide insurance coverage for the property, movable furniture, and other valuable items in the property.
Partment is responsible for any on-demand, precautionary, and planned maintenance on a fixed window-based schedule. The necessary costs will be transparently explained and shared among the co-owners, proportionate to their ownership share in a given property.
Renovation costs will be proportionately shared among the co-owners.
No, once you've acquired your share, you are entitled to enjoy your property without any restrictions
Partment has developed a set of Terms of Use that are included in the contract when purchasing a share. It includes a guide and the main rules that apply when using a Partment home. Complaints, Pre-check-in Post-check-out property check-ups are monitored by our property manager.
Individual furniture selection is impractical due to potential inconvenience for other co-habitants. Partment collaborates with industry-leading professional interior designers to create a unified and appealing Partment brand theme. Feedback is valued to enhance co-owners experience and will find every possible way to add a factor to their experience with Partment.
Yes, we encourage you to bring your friends and relatives to co-own a property and build a dynamic and vibrant Partment community to share in your joy.
Re-sell & Ownership Transfer
No, you don't need the approval of the other co-owners. As an independent owner of a share, you have the right to make your own decisions.
Yes, we can facilitate the transfer of share co-ownership with the necessary stamp duty and other admin fees required to be borne by the respective co-owner will, in order to make the transfer.
Ownership & Property Management
No need to handle multiple payments and bills. Partment manages it all on your behalf.
No, you don't have to interact with them. If you want to be friendly, we won't stop you.
Property Access, Booking & Guidelines
The number of stay nights quota varies depending on the property and its location.
If your desired dates aren't available, you will need to consider exploring another option. We're dedicated to providing greater flexibility while expanding our portfolio of properties. Planning ahead is key, as you can now reserve up to 2 years in advance, ensuring you secure your ideal stay with ease and anticipation.
To ensure optimal utilization of the property, cancellations must be made at least 30 days prior to the first day of the booking.
As a co-owner, you are able to book stays up to 24 months in advance, and you will have visibility of the upcoming 2 full calendar years.
A 1-share co-owner is permitted to book only one star duration at a time to guarantee that all co-owners have the opportunity to spend prime time at the property. Once a co-owner has booked and stayed during a star duration, they will be allowed to book the next one.
Yes, non show ups count from your quota
If there are less than 30 days prior to the booked date, cancellation won't be applicable and the stay will be deducted from your qouta. However, you can request to swap with another co-owner and save your quota for other bookings.
Yes, subscription fees are charged on a monthly basis and are divided into 2 main components: platform fees and maintenance fees.
Partment wants you to enjoy your second home, so we maximize your allocated days by prioritizing the high season, followed by the mid-season, and allocating the fewest days to the off-peak season.
If there is a difference, it will be collected proportionately from the co-owners and added to the following month's billing cycle.
If there is an excess amount collected, Partment will return it to the co-owners within 90 days from the start of the process.
Every 5 years, starting from the issuance of the unit (i.e. unit going live), a remake assessment will take place by Partment’s technical team. Based on the report findings, a tentative portion of the property's value will be collected from the existing co-owners to keep the property up-to-standards and to renovate the depreciated aspects (i.e. swimming pool, appliances, furniture,...etc.) in order to maximize the asset appreciation value and ensure a consistent stay experience.
The maintenance fee is specific to each property and is included as part of the monthly subscription fees. This fee covers various costs including; Cost of utilities, Cost of maintenance, Cost of community maintenance (if applicable), Cost of property tax (if applicable in the location), Cost of insurance to protect co-owners against theft and other unfortunate events, and finally Cost of basic housekeeping services. All costs are divided equally among all shares. At the end of each calendar year, the maintenance fees are consolidated and compared with the total collected from each unit owner.
Every 1-share co-owner is assured at least star duration annually, coinciding with public holidays or local events in high or mid seasons. The maximum booking nights per period depend on the allocated season nights. Partment employs a fair Smart Booking System (SBS) to evenly distribute nights. Additionally, co-owners can book up to 2 years ahead for added flexibility in planning their stays.
Each co-owner will receive a prorated quota of nights and stays determined by their date of joining during the calendar year. This is to ensure fairness and transparency in the booking process until the end of the year. For subsequent full years, co-owners will receive their full agreed-upon quota.
The platform fee is specific to each property and is included as part of the monthly subscription fees. This fee covers Partment's provision of relevant technology to co-owners, enabling the best possible experience when purchasing, booking, accessing, and exiting the property/asset.
Each co-owner is responsible for transferring the monthly subscription fee in advance to Partment within 30 days after the 25th day of the previous month. For example, to pay for the monthly subscription fees of February 2025, the user has a window from January 25th, 2025, to February 25th, 2025.
Yes, some are. Just make sure to check the property details while on the property window on our website.