FAQ About Our Fractional Offerings

Q: What is Shared Ownership and How Does it Differ From a Time Share?
A: Shared or fractional ownership was initially launched several decades ago in ski areas in the United States and has expanded well beyond that, including luxury hotel offerings in many locations. Fractional ownership is very different from time share: Time share only qualifies you for a stay in a property, but you do not own any part of that property or development. In fractional or shared ownership, buyers physically purchase part of the property and are fully deeded owners. This deeded ownership in the apartment can be resold or passed on to your loved ones.

The only other costs are the annual running fees. Our offerings have extremely low running costs, thanks to our property management expertise and our philosophy to provide excellent value to guests and owners. We invite you to judge for yourselves by comparing the fees and costs at Italy Perfect Shared with any shared ownership offering in the US or Europe.

Q: Why did Italy Perfect decide to offer fractional ownership, and how it is different from Italy Perfect's vacation rentals?
A: It is a natural extension of our Italy Perfect vacation rental business and the success of Paris Perfect Shared. Our co-ownership program started in Paris because our guests asked for the chance to own an apartment in Paris that we manage in the same trusted, high-quality way. They wanted to visit up to a month each year, and instead of renting from us, they wanted a piece of a beautiful apartment, without the cost and hassles of 100% ownership. This was how Paris Perfect Shared began.

Our owners have been thrilled with the experience and immediately began asking if we were going to offer the same opportunities in other European cities, with Italy being at the top of the list. Thanks to more than 20 years of experience in the Italian vacation rental market with Italy Perfect, we were uniquely positioned to offer the same co-ownership experience in Italy.

Take a deeper dive into fractional co-ownership and our start in Paris on our Paris Perfect Shared blog answering some of our most frequently asked questions. You can also find out more by watching our short video about our fractional apartments.

Q: What Makes Italy Perfect the Right Company to Offer Fractional Properties in Italy and Europe?
A: Over the past two decades, Italy Perfect and parent company Vacation Perfect, have become one of the leading luxury vacation rental companies in Europe. The core building blocks which made our rental company successful were consistent from the day it was founded: trust, quality properties, and an excellent team who deliver the best service. We realized that our guests had not only fallen in love with Italy, but many wished to spend an extended period of time each year.

These core values fit this new idea from the start: knowing where and how to find the best properties to purchase, remodel, furnish, maintain and manage properties in all our Vacation Perfect locations – not simply accept what owners had purchased on their own. Those values are what established us as a leading vacation rental company, and they are the same skills that are required to locate a fabulous property, remodel it to the highest standards and manage it for owners – whether owned 100% or shared among several owners.

Q: How will I choose my weeks?
A: The choice of weeks is done on a rotation basis of two weeks each, similar to professional sports draft. If you are in position one for the first round then you have first choice of your first two weeks and last choice of the second two weeks. The first-round pick moves down by one each year, and the second-round pick moves up by one each year. That way everyone has an excellent choice of favorite weeks, either in round one or two.

There are no “bad” weeks or seasons in Italy! Every season is special, from balmy spring days, cozy winter stays, languid summer evenings or mild fall weather, each season has much to offer with a large variety of museum exhibits, seasonal foods, concerts, educational lectures on art and history, language or cooking classes.

Q: What is the annual budget set for the property? Are there any additional costs?
A: All of the costs to manage the property—including building charges, condominium fees, utilities, property taxes, turnover/cleaning, management, supplies, a five-to-ten-year depreciation cycle for appliances and normal wear and tear—are included in the annual fee paid by each owner. This is an incredibly reasonable, all-inclusive fee that makes ownership a natural decision for most. In addition, a substantial portion of the annual fee is set aside for a longer-term maintenance fund for the apartment and building.

Q: Will we need an Italian bank account or be liable for taxes in Italy?
A: No, you will not need an Italian bank account nor will you have to personally file Italian taxes. The fees can be paid in US dollars to the US companies set up to own the apartment through a Italian SRL (like an LLC). The US companies will pay the taxes to the Italian SRL, which will file an annual tax return. These ongoing expenses are already factored into the annual fee detailed above.

Q: If there is any conflict among the owners, how is it to be resolved? If an owner doesn't contribute their share or abide by the agreement, is there a system/process in place to resolve it?
A: A US company holds the apartment, and the contract will have an owner management board to answer questions, authorize payments and resolve conflicts and issues. As the fractional system has grown, this kind of system has become increasingly common and workable.

Q: If an owner wants to exit, will there be a chance among the other owners to purchase the share first? Is there a defined exit process for an owner who wants to sell their share?
A: Yes, there is a defined process, and we can act as agent to sell your share. Other shareholders will have the first priority to purchase shares.

Q: If we wanted to secure a share, do you need a deposit or the funds upfront?
A: Just let us know if you’d like to secure a share and we’ll provide you with the information package and contract – and also schedule a showing plus answer all your questions. Please email us for more information and with any questions you may have: [email protected].