The
co-ownership
What is co-ownership and how does it work?
Co-ownership of a property means the division of the property into shares purchased by different parties. In the Italysium case it is 8 shares, divided between you and up to 7 other owners.
What are the differences between co-ownership and timeshare?
Unlike timeshare, by purchasing an Italysium you become the owner (in share) of the property, and NOT just the right of use. Therefore, you also enjoy the appreciation of the property over time. Furthermore, reselling the share is easier, because you are selling a share in independent properties, and not in units within resorts, as is often the case with timeshare.
How many Italysium shares can I buy?
You can buy up to 4 shares in a single Italysium house. If you own more shares, you can benefit from your house for longer. Each share entitles you to 6 weeks use, a total of 336 days of use per year. The remaining 29 days are used by Italysium to carry out maintenance and improvements to the property. If there are no planned interventions, the 'extra' days are rented out to generate an income, which benefits the co-owners in the form of Extra Services.
Besides the house, what do I buy with joint ownership?
Through your share you own the property, the land on which it is built and all the goods in the house, e.g. furniture, appliances, fixtures, fittings and decorations.
Are extra services provided at Italysium properties?
First of all, remember that we are responsible for cleaning and maintenance. This means that you will always find a perfect, trouble-free home when you arrive. Maintenance costs are divided between all owners. In addition to this, there are PREMIUM SERVICES, which are included in the costs and are also supported by the income generated from the days reserved for housekeeping. The extra services vary depending on the property and location, and can be wonderful outdoor experiences, tastings, parties and gala dinners, home wellness services, private lessons and courses. This is just one example of the great conveniences of co-ownership, which allows you to distribute not only the purchase costs, but also those of other services, furnishings, tools, etc. In other words? Living the Italian dolcevita, at a fraction of the cost.
the properties
What kind of properties do I find in italysium?
On our platform you can find 2 types of properties for sale: new projects and enhancements. As you can also see in the following explanations, our presence as professionals who have directly built or renovated the property brings a long list of advantages and guarantees, such as the certainty that the purchase price for owners is always the best on the market.
What are 'New Projects'?
These are new buildings yet to be realised, designed by us, for which we will also take care of the execution phase. The new projects are innovative real estate products, which we realise according to the highest technological and construction standards, and with maximum energy efficiency, in exclusive and carefully selected locations following on-site inspections. Formally, when we propose a new project, we have already made preliminary agreements, for instance with the owners of the land on which your new holiday home will be built.
What are 'Enhancements'?
These are real estate bargains that Italysium identifies in the Italian market, acquires and deeply renovates to allow them to express their full value. Our company has entered into direct agreements with important banking servicers for the marketing of properties linked to executive procedures; in fact, many of the properties in the 'Valorizations' come from this specific sector. This leads to a very significant reduction in acquisition prices, and a consequent margin compared to the real value, which is restored once Italysium 'frees' the property from the judicial procedure, repositioning it on the open market. In other words, valuation properties - despite having less flexibility in the choice of location - represent a bargain guarantee for buyers, who with a fraction of the costs can secure very high value properties at below-market prices.
The stay
How many days will I be able to use my italysium house?
Each co-ownership share allows 42 days (6 weeks) of time at the facility. Our owner planning system ensures that all owners can enjoy the same time in high and low season.
Is there a maximum limit of continuous stay?
Our system is configured to schedule a minimum of 2 nights and a maximum of 2 weeks at a time, each week starting on Saturday. There is also a maximum limit of periods that can be booked at the same time, to minimise the likelihood of cancellations. If you wish to schedule a longer period you can try to do so, the request is submitted to the other owners, who will have the right of first refusal for a certain period of time. Our aim is always to allow everyone to enjoy the house equally, so we apply flexibility to meet the specific needs of each Italysium and its owners.
How do the festivities work?
Our system also takes into account holiday weeks (such as Christmas or New Year's Eve) as special periods, to be distributed equally among the co-owners. Therefore, no owner can, for example, book for himself all the holiday weeks during the year.
I have a problem with my reservation, how can I solve it?
We have a dedicated reservations department, which deals with specific problems, such as changing a booked period, or any other possible needs of Italysium owners. To handle your problem please write to reserve@italysium.com and you will be contacted by a manager as soon as possible.
maintenance and recurring expenses
Besides the purchase of the share, are there any other costs to be borne?
The price you pay for the purchase of the share includes everything you need to get into your Italysium, such as purchase taxes, technical and authorisation costs, and complete furnishing. The only expenses excluded are future expenses, which concern consumption and the maintenance of the property over time, as described below.
How are maintenance costs managed?
Come puoi immaginare, oltre all'acquisto della casa ci sono dei costi per il suo mantenimento.
Tutte le tasse e le spese operative della casa Italysium sono divise proporzionalmente tra i suoi proprietari.
La stima dei costi viene pianificata in anticipo ogni anno, così da permettere di fare una previsione e una ripartizione mensile dei pagamenti. Ogni mese ti verrà addebitata la quota mensile, ma non dovrai occuparti di nessuna attività di manutenzione.
Periodicamente forniamo un rapporto consuntivo sulla gestione economica della tua casa, per garantire a te e agli altri proprietari la massima trasparenza nella gestione monetaria della proprietà.
What is included in Italysium maintenance?
Basically, everything. We manage the house as if it were our own, maintaining a standard befitting an Italysium property. In addition to taxes, energy and raw material consumption, this means: landscaping, pool maintenance, interior and exterior cleaning, repairs, etc.
How Italysium operates
I want to learn more about the company
Our company is the professional partner of all Italysium co-owners. In fact, we are the legal entity that has designed and will build the property that is sold in shares. Or, in redevelopment projects, we are the ones who have selected the opportunity, designed its renovation, and managed the restructuring. Finally, we are the entity fully responsible for the active management of the property, which we administer throughout the year on behalf of the co-owners. For more in-depth information, you can visit the About Us page on the website.
What do you do specifically?
First of all, it's important for you to know that we are NOT a group of programmers in an office in California. We are the real estate company that launches and carries out the beautiful projects that then become Italysium homes.
Explaining every one of our interventions would be quite lengthy, but below is a list of our main activities. Please feel free to contact us if you would like to discuss any of these aspects in more detail:
We select properties or lands in exclusive locations.
We conduct surveys and feasibility studies.
We perform urban and cadastral investigations if necessary.
We negotiate commercial agreements with previous property owners.
We design new constructions or redevelopment projects.
We are responsible for the work on every construction site.
We handle the tax and bureaucratic aspects of selling in shares.
We manage the regular and extraordinary maintenance of the properties.
We are always present to deal with any unforeseen circumstances as a professional third party and impartial entity.
What are the steps and timelines for purchasing an Italysium?
This is our standard process:
When you see an Italysium property for sale on our platform, it means that the phase for selling shares is active. The sale phase has a specific start and end date. During this phase, you can request all the project information and documentation and decide to purchase a share by making a deposit.
After making the deposit, you can decide to visit the property, or the land in the case of new constructions. If for any reason you decide to withdraw from the purchase during this phase, we will refund the share. The same applies if the minimum number of shares required is not reached.
When the sales period ends, we will notify you if the project has reached the required number to proceed.
The construction phase now begins, during which renovation or actual construction work takes place. We will use this phase to organize the initial usage calendar for the property among the owners.
At the end of the construction phase, your Italysium property is ready for you.
Note: The time between purchasing a share and moving into the property is precisely indicated in each project. On average, it is about 6-8 months.