Coraldize is the modern way to own your dream vacation home. Leveraging our proprietary technology, we aim to create a transparent marketplace that allows people to purchase, own, and sell co-ownership interests in exquisite vacation homes in select locations in the Mediterranean.

Once someone becomes a co-owner of a Coraldize home, they can schedule time through our proprietary scheduling system and enjoy the home while our superb team takes care of all the details, including utilities, landscaping, pool maintenance, insurance, and repairs. It’s all the benefits of owning a home with none of the headache.

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Very, very simply, we enable multiple people to own one home and split all the costs amongst them without the fuss and hassle normally involved. We call this the smarter way to own a home abroad as buying a whole home for just a few weeks a year feels like more hassle than it’s worth while spending money on a rental is a waste.

We make this possible by managing all the legal and administrative processes that come with home ownership as well as all the property management. That’s how we remove the hassle of owning a home abroad and allow people to indulge in ultimate relaxation and unfettered quality time with their loved ones.

Not at all. A Coraldize home differs from a timeshare in the following, and rather important, ways:

• With a Coraldize home, you own a portion of the home (not only the right to use time there). You actually own a share of the home’s equity, and you can benefit from any appreciation in the value of the underlying real estate over time. By contrast, with a timeshare, you own only the right to use the property, typically for a fixed period of time each year.

• If you want to sell a timeshare, you must attempt to sell it back to the resort operator who sold it to you, which often results in a loss relative to your purchase price. With a Coraldize home, you simply need to list your share on our marketplace to find another buyer. All of which we expertly facilitate.

• Timeshare properties are typically hotel rooms or condo units in a resort property while Coraldize properties are standalone vacation homes in prime locations chosen for their physical beauty, their cultural heritage, and the access to multiple outdoor activities.

Co-ownership simply means that a property is owned by a group of multiple owners instead of one single entity. This is also known as fractional ownership, a concept and practice used to democratize access to otherwise unattainable assets. Fractional ownership has existed for a long time but it is difficult and costly to get right without a neutral third-party administrator to ensure transparency and fairness amongst co-owners. This is where Coraldize comes in: We are reinventing the co-ownership experience by taking care of all the details ourselves so that you can enjoy complete peace of mind.

There are a maximum of eight owners per home so that each family can enjoy at least six weeks a year in their Coraldize. That said, one person can decide to purchase up to 4 co-ownership stakes (owning 50% of the home).

Very simply, we charge two fees:

1. A one -time service fee of 6% of the share’s value when you purchase the home.
2. A monthly convenience fee of 99€ so that we may continue to facilitate the maintenance and administration of the home to ensure it is lovingly cared for. Everything else is 100% pass through.

There are two types of listings on our site. Live Listings and Preview Listings. Live Listings are homes Coraldize already owns. We have completed the purchase and are already running the home. A Preview Listing are homes that we’ve negotiated to list on our site, but still dont have exclusivity.

With each co-ownership stake, you can enjoy six weeks of time at the property. Our proprietary scheduling system ensures that all owners get same number of weeks in the high season, shoulder season, and low season. Weeks run from Saturday to Saturday.

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Contact us to learn more about how our proprietary scheduling system works.

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This is up to you! You have six weeks to stay in your new home. Stays are limited to one week at a time in order to ensure that all our co-owners are able to enjoy both the high and low seasons. Scheduling contiguous weeks is possible and will be determined by other co-owner's stays and your place in the draft order. However, you are able to trade weeks with your fellow co-owners enabling you to enjoy three to four weeks of continuous time at the property.
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Contact us to learn more about how our proprietary scheduling system works.

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Every house is divided into 8 co-ownership stakes and each of those gives you 6 weeks at the house. So, yes... that is 48 weeks and a year has 52. We allot 4 weeks for any maintenance work that needs to be done at the house. If little work needs to be done, we’ll plan to rent those weeks, and any rental income will be used to reduce each co-owner’s share of property operating expenses on a proportional basis.
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Contact us to learn more about how our proprietary scheduling system works.

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Coraldize stays are allocated in week-long periods, running from Saturday to Saturday. This is to ensure that all co-owners have access to the home during popular seasons. If you wish to stay longer, you can aim to book contiguous weeks.

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Contact us to learn more about how our proprietary scheduling system works.

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The only restriction (or special allowance) for holidays is that no one co-owner can schedule time for both Christmas and New Years. Other than that, co-owners can reserve any time they want at their home --holiday or not.

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That said, we ensure the allocation of time is equitable as each co-owner is limited to a certain number of weeks at what is considered “high season”. And, unlike traditional categorization of seasons (which is often based only on weather), we actually consider holidays and other factors such as school calendars and special activities at the location.

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Contact us to learn more about how our proprietary scheduling system works.

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The selection process described above takes place every year in November for a usage calendar which commences in February. However, when you purchase your Coraldize, you are able to make your selection immediately so that you do not have to wait until February.

Plans change, we get it. If you cannot use your scheduled time, you have a couple options:

1. Gift the time to a friend or family member (and get bonus points with them forever)
2. Rent the time -- you let us know you want to rent it and we’ll coordinate the rest. Your proceeds of the rental income will go directly towards covering your annual operating expenses.
3. Swap the time -- through our app, you can let other co-owners know you want to swap (in an anonymous manner) and we’ll determine if there’s a match
4. Add it to the platform of one of our partners, this will give you keys so you can use a similar property in a different location around the world at a time that works for you

Basic services like the maintenance of the house and basic staff (cleaning, gardening and cooking) are included within the annual recurring expenses every co-owner is responsible for.

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That said, as part of our Platform Fee, we have a 24/7 concierge service (available via the Coraldize App) that can help you book other services - such as airport pickup, chef, massage, restaurant reservations, grocery shopping and day excursions. We will book these at cost (aka Coraldize doesn't profit from these). That said, these are additional charges.

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Yes, every co-owner will have dedicated space at the house (with lock) to keep personal belongings.

Just like any home, there are operating expenses that fluctuate month by month. These could include insurance, property taxes, cleaning, property management services, preventive maintenance, and repairs. With Coraldize, we provide an estimate of the year’s costs upfront so you can budget accordingly. We then pass through any expenses transparently and at cost through to you and the other co-owners so they can be shared proportionately.
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We charge a monthly platform fee of 99€ in order to provide this superior level of service.

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Every Coraldize co-owner gets access to our owner’s app, which allows them to book their time, make payments, request additional services and contact our 24/7 concierge service. All these features require us to have staff coordinating all logistics for you (including managing your house staff and coordinating the maintenance) and engineers ensuring you have a seamless online experience.

Our promise to our co-owners is that the only recurring money we make is in our platform fee. Other recurring expenses are 100% passed through and we take care of your every penny like it were our own. In addition, all co-owners will have access to our books and be able to see every transaction.

The reserve fund is a pool of funds that builds up over time through monthly contributions contained in the monthly operating expense budget. The reserve fund is used to pay for unexpected expenditures that may arise from time to time in relation to the home, including repairs, replacements, and improvements.

Coraldize takes on the responsibility for fully managing each of the homes on the Coraldize platform. This includes the legal and financial aspects of homeownership, including coordinating and paying for utilities and property taxes, maintaining the LLC legal entity and its accounts, and representing the buyer group as necessary to outside parties, including municipal authorities.
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For physical upkeep of each property, we partner with vetted, high-quality property managers based in each of our active markets to ensure our homes are managed according to the highest standards of care and maintenance. Our partners take care of all aspects of property management, including landscaping, gardening, pool care, professional cleaning, preventive maintenance, and repairs.

As manager of the property LLC, Coraldize serves as a neutral party acting in the best interests of the co-owner group. In this capacity, Coraldize is empowered to make decisions with respect to routine matters such as weather-proofing outdoor spaces, performing minor repairs, and replacing worn-out appliances. Major decisions, such as the decision to purchase and install a jacuzzi, can be brought to a vote by any co-owner. Each fractional share holds a single vote.

If all parties agree, co-owners always have the right to “fire” Coraldize as a manager. That said, we will always go above and beyond to take care of your home and your stay, so hopefully we don't have to get to that point :)

No. Every co-owner will be individually responsible for any expenses that are a direct result of acts during their stay.

Under these circumstances, Coraldize would perform the necessary repairs itself, and seek to recover any monies spent for such repairs from the owner in question. If the owner were unable or unwilling to refund the expenditures after having been given the opportunity to do so, such owner would be in default, and could have his or her share repossessed and resold by Coraldize.

Coraldize guarantees payment of monthly operating expenses on behalf of the ownership group, such that if one owner fails to make a required payment, Coraldize will step in and cover that payment itself. The defaulting owner will have the opportunity to fulfill his or her obligations, but if the default remains outstanding after the cure period has expired, Coraldize can repossess and resell the defaulting owner’s share.

Ordinary maintenance and repairs refers to the cost of labor and materials necessary to maintain the property in a condition consistent with what you would expect of a luxury vacation home. On a practical level, this may include things like landscaping, gardening, pool maintenance, general cleaning, and HVAC service, among others.

Each Coraldize has a designated Coraldize representative charged with ensuring that the home is working properly, and that everything is going smoothly when owners are onsite. As part of your onboarding process when you purchase a share, you will be introduced to your Coraldize representative, and you can contact this person at any time to report an issue. If something comes up, we will work hard to get it taken care of as soon as possible!

Coraldize will open, maintain and operate one or more bank accounts, as necessary, and all the money collected, and funds related to the Owners will be kept in these accounts. There will be no commingling of funds. As Manager, Coraldize will be the sole signatory of these accounts.

Yes. Coraldize will prepare a Budget every year and will send the Budget to the Owners by our mobile app.

At Coraldize, we are dedicated to full transparency. For this reason, each year you’ll receive financial statements for the LLC in which you are an owner, including a balance sheet and statement of cash flows. Additionally cost statements with a breakdown of incurred expenses, including operating expenses, taxes, and insurance premiums, can be made available upon request.

Yes, all properties will be insured according to the Coraldize’s insurance standards

Of course. Just like with any other real estate asset you might own, you can sell your Coraldize share at any time. The only restriction we implace is that you have to own it for at least one year.

You can sell your share to anyone that passes our vetting process (which is just a check for criminal records and ability to pay). Other co-owners do not need to approve the new co-owner. In fact, they might not even know about this since we limit the interaction between owners to create a smooth experience for everyone.

If you opt to use a traditional broker, we can’t estimate the time it would take to sell. It would depend on the real estate market in your area at the time of sale.

Again, just like with any other real estate asset, you have the freedom to sell your share at any price you desire. That said, we are constantly collecting data on the markets we operate and can recommend a fair market price.

As with the sale of a normal home, and depending on how you choose to sell your share, you will likely incur a real estate sales commission and closing costs. Coraldize´s sales commissions will be 6% of the sales process.

If a will is in place at the time of the co-owner’s passing, the ownership share will be transferred according to the instructions laid out in the will. In the event a co-owner dies without a will, the share will be transferred to the co-owner’s heirs. The heirs would then represent an ownership group with joint ownership of the ownership share.

Kokomo acts as the guarantor of the loan and will step in to fulfill the defaulting buyer’s obligations on his or her loan. This is one of the services we provide as part of our end-to-end co-ownership solution for customers.