How does sharing work in a typical vacation home?
The majority of shared vacation homes consist of a single unit shared through alternating usage, by assigned week, month or season, or by reservation. Sometimes, by mutual consent, owners trade allotted usage. Occasionally homes are sold with specific annual time slots. Homes with more than two owners are generally maintained and cleaned by professional property managers. These managers often manage usage schedules, renting the unit if the owners desire, and handle finances. Legal sharing agreements govern the collection and expenditure of funds for cleaning and scheduled maintenance which are generally handled through regular dues. Major maintenance and possible upgrades may be funded from a reserve or assessment system. Owners occasionally modify sharing agreements and maintenance standards when the sharing agreement comes up for renewal. Many properties offer individual APN numbers for each owner, which means that taxes are handled independently by each owner. Taxes may vary on each
