FAQs

• 1. General questions
• 2. Co-ownership questions
• 3. Legal and technical questions
• 4. Properties
• 5. Operations and maintenance

1. General questions

• Where does the idea and concept orginate from?

  • August is the natural continuation of having helped and assisted families finding and renovating holiday homes abroad. We realised that having to settle for only one location and dealing with the many expenses and burdens that come with owning a second home didn’t make sense for most, especially when using it 35 days a year on average.

• Who is behind August?

  • August is founded by Melie and Nico, with a background in real estate, law, interior design, technology, finance and having facilitated many holiday home transactions abroad over the years.

• Who is August for?

  • August is for people who are considering purchasing a secondary home but are reluctant to pick a single location and deal with the many burdens associated with owning a second home abroad. It is for people who love travelling and discovering, yet appreciate the comfort of feeling at home without the hassle of always finding new accommodation. Shared ownership removes the hassle and unforeseen expenses of second-home ownership. All your properties are managed and serviced, leaving you to relax and concentrate on the bliss of doing nothing.

• What is August’ competencies to find the properties?

  • With prior experience in property development and renovation, we understand perfectly which properties are good investments and have the right potential. See our case studies for more examples. We understand the cost associated with renovating properties abroad and have a strong team of advisors and partners, ranging from estate agents, design and build companies and interior designers. Our partner Stibat complete over 5,000 units a year in France alone.
    

• What are the main criteria for selecting the properties?

  • To become an August holiday home, a property must meet certain key criteria: located in one of the key locations we have carefully selected, 1.5 hours away from an international airport, beautiful view and surroundings, functioning property with a lot of local charm, plenty bright, communal spaces, minimum of two to three bedrooms, beautiful interior mixing old and new, great outdoor areas (terrace, garden, pool etc.), new bathrooms and kitchen appliances etc. It is often challenging to find the perfect property that meets all our requirements and at the right price. We therefore much prefer to find an older yet charming house full of potential in the perfect location that we can renovate to our standards. Once we have assessed the property and are confident that we can transform it into a perfect charming villa, we purchase it. The renovation works will follow. We exclusively work with the most renowned local dealers in each area. Renovating properties in partnership with architects, renovators and in line with your preferences will allow us to create the perfect contemporary holiday home for you.

2. Co-ownership

• What is an August co-ownership?

  • As a co-owner of an August collection, you own a share equal to 1/21 of the five properties purchased by the collection. All shares of a collection are equal and all co-owners enjoy the same rights.

• How is it different from a timeshare?

  • August is not and fundamentally different to a timeshare. With August, you become a co-owner of five homes. In a timeshare, you typically purchase the right to use one dwelling for a specific period. You can only exchange your weeks if the person owning the weeks you are interested in is willing to exchange his/her weeks with you. Read more here.
  • It is extremely hard to sell a timeshare as you need to find someone interested in both the same location and the exact same weeks that you have purchased, by yourself. With August, you own a share of not one but five properties, and it is not tied to any particular weeks. Most importantly, in a typical timeshare, once all the shares have been sold the property developer has no incentive to find new potential buyers and you are left alone to find a potential buyer for your share. On the contrary, August is constantly looking for new potential buyers to enter new funds. Buying a share in an existing fund has a premium, as new buyers can see the properties in the collection before buying and start using them as soon as they buy their share.

• How do we become an owner of a collection?

  • You become an owner by signing all the documents associated with joining a collection. You do not have to visit local notaries in various countries, as August will take care of everything for you.

• How much does a share cost?

  • You can find more details in our open collections here: http://augustcollection.co.uk
    

• How many co-owners are there in a collection?

  • Each collection will have 21 co-owners.

• How much contact do we need to have with other co-owners?
  

  • It is entirely up to each co-owner to decide. You can be involved as much or as little as you want to. You are invited to the annual general assembly and if you do not want to participate or can’t join on the exact date you have the option to provide another co-owner with a power of attorney on your behalf.

• How do I get to know the other co-owners?
  

  • When all the shares are sold, August will invite you to the Inaugural meeting. Here you will meet all the families signing the co-owner agreement.

• How often is a general assembly conducted?

  • Once a year.

• Why should we buy a co-owner share now and not wait until the next collection?

  • You should consider buying a share with August in a similar way to buying a secondary home on your own. When it is right for you it is right for you! Buying now obviously has the advantage of benefitting from any potential value increase of the collection.

• How is August different to other co-owner schemes?

  • Unlike most co-owner schemes, with August you are the co-owner of five properties as opposed to just one.
  • Another very important difference that we attach great importance to the fact that you don't have to think about the daily operation of the 5 properties when you become an August co-owner. August’s Operation Company handles all the cumbersome tasks associated with the purchase and daily operation of the properties.

• How long should we wait from the collection’s establishment before we can use the properties?

  • You can expect it to take between 2-12 months after properties have been acquired before you can start using them. This depends on the type of renovation involved.

• How are the individual collections different?

  • There's an August Collection for every family. We understand there's different needs for different people however the quality of the properties does not differ. The main difference is the size of the properties and how many guests it can accommodate.

• If we do not like the sharing aspect, is August for me?

  • If you recognise the feeling of having been interested in a holiday home, but unable to decide on any single country or place to commit to, then August is your ideal choice. With August, you have the truly exclusive opportunity of having several holiday homes in multiple countries simultaneously, and are able to enjoy several countries and destinations before perhaps deciding to sell your August collection ownership in order to buy your own home, having made a uniquely educated decision. Perhaps you find the opportunity to visit numerous different places far more satisfying than be bound to the same place each time you travel. Another major advantage, as mentioned previously, is that by being part of an August collection, you will have access to a number of homes that greatly exceed the value of your investment. In other words, not only will you have more properties than had you simply bought a single holiday home – but those properties will have value that is on average around 4 times greater than the deposit you have made. If you choose to take ownership in one of our August collection, and decide later to sell - we know you'll have a worthwhile and pleasurable experience, and one that will make any future choice of holiday home even easier.

• We are considering purchasing our own property abroad, as in the long term we would like to live abroad full time.

  • Firstly, because this would create a significant additional cost. The cost associated with purchasing a property (and change of owners) is a percentage fee of the property price. Therefore, if August had to buy the properties before we have collected the owners, we would have to trade all properties twice, and this will be a disproportionately large cost, which the owners would have to pay.
  • We also want to make sure that the properties fit the co-owners of each collection. For this reason, we wait for the co-owners to fill in their preference schemes before we start buying the properties.
    

• Can I smoke in the properties?

  • No you are not allowed to smoke in the properties.

• How often do you replace the furniture?

  • On an ongoing basis as needed.
    

• How are the properties insured?

  • All properties are insured with the best possible plans available.

• What do we do if we have used all of our points? Can we buy more?

  • No it is not possible to buy more than your allocated points.

• Is one collection better than the other?

  • There's a collection for every family and it depends on your needs and preferences.

• How do we finance our co-owner share?

  • The purchase is an all-cash buy.

• What is the monthly management fee and what does it cover?

  • The management fee is a monthly cost contribution that covers all expenses associated with running the five properties, including local taxes, insurance, maintenance, administration, etc. The only thing you have to pay on top is the direct expenses related to a stay in the property. The mandatory end of stay cleaning and use of water, heating and electricity.
  • In Family the monthly fee is €450
  • In Signature the monthly fee is €590

• How do I book my stays?

  • Online via the internal August booking system.

• Do I have to do a final cleaning myself?

  • No, this is taken care of by the August team,

3. Legal and technical questions

• How does the booking system work?
  

  • Our booking system is designed in such a way as to benefit both long-term planners and those who prefer last-minute spontaneous holidays.
    
    Each year you will be issued points as a family, to book holiday weeks with. Each week in the holiday homes has a score according to local low and peak seasons, combined with school day holidays. A week during peak season costs more than a week in low season.
    
    If you and your family decided to only book during peak season you will have access to 7 weeks of holidays per year. If you only book during low season you and your family will have up to 17 weeks of holiday available.
    
    We expect that the average use will be 6-8 weeks per family per year.
    
    Your points cannot be transferred to the next year. Points will expire if you have outstanding points at the end of the year.
    

• The points are being released in phases.

  • To avoid all families impatiently waiting for the specific time that we release the points we have come up with a better solution. The points will be released in batches. By doing it this way, everyone is able to save for their favourite holiday week in a stress-free manner.
  • Because we release the points over a few weeks it completely removes the chaos and stress of booking your holiday weeks. It also allows flexibility for both long-term planning and spontaneous trips. If you cancel a holiday you will lose points as it prevents others from booking ‘uncertain’ weeks that you might want to reserve.

• Can I always get the week I want?

  • We have developed a smart and simple booking system. The system is arranged so that it ensures a fair distribution, and one can for example always be sure of at least one week in a home during school summer holidays. There is plenty of room for everyone in the calendar - a total of 12 weeks on average per year, but you cannot be sure to always get your first choice. The weeks are weighted in relation to season and housing, which gives a fine balance in the utilisation. The booking system has a smart waiting list facility, which ensures that the homes are not empty if the owners wish to use them.

• How far in advance can I book?

  • You can book up to one year in advance.

• How much does a stay for a week cost?

  • After each concluded stay you will receive an invoice based on actual direct cost (heating, water and electricity) and the mandatory end of stay cleaning. It will include linen service so you do not need to worry about bringing towels or bed linens. The cost varies from property to property and where in Europe its located. On average you can expect a final invoice in the range of €150 to €350 for a four person stay.

• Which advantages does August offer compared to individual second home ownership?

  • Lower capital investment than buying a comparable home on sole ownership.
  • Spread the risk by investing across different countries.

• Do we get taxed when selling our share?

  • Your ownership of an August share is equated with owning a holiday home yourself. If you sell a second home in the UK, you need to pay capital gains tax (CGT) on your profits.

• Do we need an advisor when buying an August share?

  • It is always a good idea to run the paperwork and general August proposition by a lawyer or accountant.

• How is the exit price determined?

  • The selling price is set by you and in dialogue with August. We expect to have a very liquid secondary market as we expect to always have buyers waiting to enter a new collection. Accessing an existing collection has the benefit of immediate use and therefore adds a premium to the price of your share.

• How do we sell?

  • You can find a buyer yourself or ask August to do it for you - or combine the two. If you find the buyer yourself, you will only pay the trading costs and August’s administration fee.

• Can we sell one of the 5 properties and keep 4?

  • No.

• Will all the money be spent on purchasing properties?

  • The money goes directly to the homes, the purchase of them, refurbishing, furnishings and August’s fee - nothing else.

• How do I consider local tax in the different countries?

  • Tax payments are made locally and vary from country to country. They are part of the ongoing direct cost contribution.

• Is it likely that we have to pay more than the suggested amount related to a collection?

  • No, unless decided by the co-owners’ association itself.

• Can we share weeks with our family and friends?

  • Yes, you can share weeks with your friends and family as much as your points allow.
    

• Can we cancel after we have signed?

  • No, you can decide to opt out until final signature signing. Once you have signed the documents you are legally bound by them. It is obviously not in August’s interest to have co-owners who are not interested in being part of a collection.
    

• How certain can we be that the management fee is not going to increase?

  • Irrespective of the form of property ownership, due to inflation, the ongoing expenses of a property will continue to increase over time. You should therefore expect an increase corresponding to the general price increases in society.
    

• Can we visit the properties under consideration for a fund before we decide?

  • As we only find the properties once the collection is founded, it is not possible to visit them beforehand. However, we will always show you examples of similar homes that we will be sourcing for your collection.
    

• Can we have any personal belongings in the properties?

  • No, as you are sharing the properties with 20 other families you unfortunately cannot have any personal belongings kept in the property.
    

• Can the collection buy additional items such as bikes or cars?

  • It is always possible to suggest joint investments and or projects related to each collection. At the general assembly everyone will vote for which projects to undertake or items to invest in.
    

4. Properties

• What’s the size of the properties?

  • In Family: there will always be minimum sleeping arrangement for 6 persons.
  • In Signature: there will always be minimum sleeping arrangement for 8 persons.

• Is there a TV in all the properties?

  • Yes, all properties will have a modern TV installed.

• Is there Wi-Fi in all the properties?

  • Yes, all properties are equipped with the best internet solution available.
    

• How are the properties located?

  • All properties are located an easy reach from an airport and will be close to a local village and key activities in the area. See more in the homes section.

• Who is responsible if something breaks during a stay?

  • You are responsible for replacing any items that might be broken or damaged during a stay.
    

• Do I have a key for each property?

  • Yes, each owner will be handed their own key for each property.

• Do any of the properties have loans?

  • No.

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