Shared ownership is the future of vacation rentals abroad

Feature from Mitøsterbro April 11, 2023

Five2one is a new, affordable and sustainable way to own your dream home abroad. You get 100% luxury at a fraction of the cost when five families share ownership and disposal of the home. For most Danes, 10 weeks a year in their foreign vacation home is more than enough and with Five2one you avoid all the hassle, maintenance and administration.

Many Danes love the south of Spain and the Costa del Sol is particularly popular in Denmark. The climate, culture, nature and proximity to the Mediterranean attract thousands of Danes to the beaches around Malaga and the Costa del Sol. A nice holiday home in the area is therefore high on many people’s wish list, but it can be a challenge to find the right property at the right price and then having to deal with subsequent administration etc.

That’s why Jakob Skram-Jensen, who lives in Østerbro, started the groundbreaking Five2one concept, which allows you to invest in a luxurious vacation home without having to worry about the hassle of owning a home abroad. It’s all about relaxing and enjoying life in an exclusive and private setting.

5 families share ownership

“The concept is simply that 5 families share the ownership of a Five2one home and thus also the purchase price, expenses and vacation weeks between them. This allows you to keep both the investment and running costs down to a level where you don’t feel obligated to use your home on all vacation days all year round,” says Jakob Skram-Jensen, who has created the concept based on his own experience with shared homes, real estate investments and 20 years in the legal industry. He continues: “It should be as easy and convenient as if you were a tourist at a luxury resort. But at the same time, you’re in your own home with your own things and decor. In this way, Five2one combines the best of both worlds; A beautiful home you own and thus an investment in real estate, and at the same time convenient and hassle-free when Five2one is the families’ extended arm with 24/7 hotline and responsibility for administration etc.”

How did the idea come about?

In 2018, Jakob bought a fantastic project apartment that he knew his family would only use a few weeks a year. So he asks several of his friends if they would like to own part of the apartment. The friends quickly said yes, and Jakob agreed to take care of everything with the distribution system of 10 weeks a year for each family, as well as all the legal and practicalities.

“I very thoroughly worked out everything about the legal setup, ownership agreements, etc. Things went so well with us and the four pairs of friends that when I had the opportunity to invest in another apartment in the apartment complex, I quickly found five families via Facebook who wanted a dream home in shared ownership. That’s how the idea for Five2one was born,” says Jakob Skram-Jensen, who today has turned a good idea into a new way of home ownership for Danish families.

Only use foreign vacation home for a few weeks

Many Danes want a luxurious vacation home abroad, but the vast majority only need it for a few weeks a year. For a fifth of the price, you can enjoy vacation luxury for 10 weeks a year and
have much lower operating and maintenance costs.

At the same time, you have Five2one to take care of all the practicalities, and when you share the home, you get a much more sustainable vacation home than if you own it yourself. It’s definitely better to have other co-owners to look after your home when you’re not using it and pay 80% of the costs than having to rent it out to strangers to cover the costs.

“Five2one has a very special system where we store each owner family’s personal belongings in a separate storage room and display them in the home each time the family arrives. It gives you the same pleasure as if you owned it 100% yourself. We make sure that all belongings are ready for the family staying in the home. You don’t have to take luggage back and forth, and you don’t even notice that other families have looked after your home while you haven’t used it,” smiles Jakob Skram-Jensen.

Which homes?

With Five2one, you buy a home in one category and a home with a focus on, for example, beach life or city life, or perhaps a golf apartment or a bicycle apartment furnished with a bicycle cellar etc. Common to them all is that Five2one finds the property that stands out in terms of location, location, architecture, interior design, facilities, etc. “We spend a long time finding the right properties and use our experience as lawyers and advisors when we help others acquire real estate,” Jakob Skram-Jensen points out

Not just Spain and for Danes

Although Five2one has started with shared housing in southern Spain for Danish families, there are already plans to expand to other countries and make the concept international. “The plan is that when you own a Five2one home, you can swap some of your weeks with other Five2one families who own a shared home elsewhere in the world. Right now we’re looking at a Five2one property in Dubai and have other locations in Europe on our radar.

There are no restrictions on where the families come from, and since Five2one handles all administration, it doesn’t matter if the families come from other parts of the world,” emphasizes Jakob Skram-Jensen.

Whole packs

When Five2one finds the dream home for the five families, it is refurbished and decorated in a minimalist, Scandinavian and homely style. After taking over the property, Five2one handles all administration; a 24/7 hotline, renovation, maintenance, booking vacation weeks and contact with living contractors. In addition, owners can get assistance with car rental, shopping, rentals, and whatever else they need.

See more at five2oneestate.com or write to info@five2oneestate.com

Five2one – Dampfærgevej 27-29 – 2100 Copenhagen Ø – Tel. 52 17 95 21 – five2oneestate.com

Spain: Calle Dragonera 2M – Reserva Del Higueron – 29630 Benalmadena

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