Do the Owner circles operate according to varying levels of ownership?

No. Since everyone pays an equal amount at the very beginning, and everyone pays the same annual costs according to their agreed-upon annual usage, all Owners remain on an equal footing within their specific circle.

How many people are allowed to stay in a home at any given time?

In Tuscany, Mallorca, Megève, and Marbella, maximum occupancy is eight people. In New York City, the maximum number is six.

THE TAKE FIVE CONCEPT

Who are TAKE FIVE's clients?

TAKE FIVE Ownership is for anyone who’d love to own a holiday home without committing to a single destination or dealing with the maintenance and management involved in owning a holiday home abroad.

How do I join TAKE FIVE?

We’ve made the process of becoming a TAKE FIVE Owner as simple and secure as possible.

Typically, the process begins with a meeting with your local representative, who will explain the TAKE FIVE concept and answer your questions. This is an opportunity for you to get to know Take Five,  and for us to determine whether you’ll be a good fit for our circle of Owners. In addition, this meeting ensures that all prospective Owners have a good understanding of all benefits, responsibilities, and compromises. Perhaps most importantly, this initial meeting gives us a good idea of whether the prospective Owner will be trustworthy and responsible about taking good care of the vacation homes and meeting their obligations to the owner association.

Once you decide to join TAKE FIVE, we’ll provide agreements and general terms in your local language. Your next step is to read and sign the forms.

Next, we’ll ask you to transfer your initial capital outlay into a secured escrow account held by international law firm Bird & Bird. They’ll secure the funds on your behalf, only to be released for purchase and renovation of the properties if all criteria described in the agreements are met. The advantage is that since TAKE FIVE Owners provide Power of Attorney to a local legal representative, the need for extensive travel is eliminated.

TAKE FIVE will then submit a detailed purchase proposition – complete with refurbishment estimates and a summary of any other costs – to the Owners Committee. All agreed-upon property selection criteria must be met before our escrow agent can release funds to purchase and renovate the properties. For the sake of practicality, this part of the process is completed in two phases:

  1. Fourteen Owners complete the membership process, and the first 3 properties are to be acquired.
  2. The remaining eight Owners complete the membership process, and the fourth and fifth properties are to be acquired.

At that point, we begin to refurbish and decorate according to the agreement. After the work is completed, we’ll release the home to the owners, who are then free to enjoy their new properties.

What is TAKE FIVE'S reasoning behind not purchasing holiday homes outright and then reselling them to the owners?

Doing it that way would add significant fees and taxes to the TAKE FIVE Ownership model.

Is joining TAKE FIVE as a company an option?

Yes. Companies are welcome, but properties are limited to private or employee use. We do not accept anyone who is in search of home ownership that is commercial in nature.

Should we retain a personal professional advisor or lawyer as we enter into a TAKE FIVE Owner circle?

We do recommend that you bring in a professional who can assist you throughout the process and with the contractual language, although we’ve appointed two of the world´s most reputable legal and accountancy firms – Bird & Bird and Ernst & Young – to ensure that all transactions are performed with the utmost transparency and certainty.

Whose names appear on property titles and deeds?

As an Owner, your name appears on all titles and deeds. Your equal ownership will also appear on the land register of each property. In some jurisdictions, it may be beneficial to establish a separate legal entity in which case Owners retain the same equal part in ownership. The name of that entity would then appear on the title and deed.

What are the costs to join TAKE FIVE?

TAKE FIVE offers three different collections to suit individual travel lifestyles and budgets.

  • CLASSIC COLLECTION: For an initial capital outlay of €137,500 you’ll become an Owner of five beautiful holiday homes, each of with values about €500,000. You’ll have five amazing properties that are far superior to a comparably priced, traditionally purchased holiday home in terms of location, size, amenities and furnishings.
  • SELECT COLLECTION: For an initial capital outlay of €275,000, you’ll become an Owner of five beautiful holiday homes, each of with values about €1,000,000. You’ll have five amazing properties that are far superior to a comparably priced, traditionally purchased holiday home in terms of location, size, amenities and furnishings.
  • PRIME COLLECTION: For an initial capital outlay of €550,000, you’ll become an Owner of five beautiful holiday homes, each of with values about €2,000,000. You’ll have five amazing properties that are far superior to a comparably priced, traditionally purchased holiday home in terms of location, size, amenities and furnishings.
Is obtaining a mortgage a viable financing option?

You can’t use your 1/22nd share as a lender guarantee for a mortgage or any other type of financing. As an alternative, you can refinance an existing mortgage and release your equity in your current residence, as long as you meet your bank’s requirements. All TAKE FIVE transactions require a cash outlay, so there’s no financial liability or liens for the Owner circle.

What is TAKE FIVE HOMES SL's role once purchase, refurbishment, and occupancy have all taken place?

TAKE FIVE HOMES SL manages the holiday homes on behalf of the Owners. Management includes, but is not limited to, daily administration, financial tasks, ongoing maintenance, holiday bookings, concierge services, communication with and on behalf of the owner circle, organization of annual general meetings and acting as a liaison with Ernst & Young to annually verify accounts from the owner circle.


How can I get more details?

By registering your interest using the form on our CONTACT US page or calling our office.

THE HOLIDAY HOMES

How are properties and locations selected?

Once TAKE FIVE identifies a suitable property, we prepare a property description that includes budgets for purchase, renovation, decoration, and home operations. We then submit the description for the Owner Committee’s approval. At this point, we assume that unless they have a substantial reason for denial, the committee will approve the presented properties.

How does TAKE FIVE increase property values?

Because we are better equipped than individual buyers to identify and purchase unique properties that have great potential for increased value through refurbishment or through purchasing below market price, and therefore we aim to add more value to the five holiday homes for the Owners than the fees we charge to find and renovate them. This is because we are real estate professionals with decades of experience and expertise, access to internal resources and the latest market research, and a large network of international partners.

Who's in charge of design and renovation for TAKE FIVE homes?

Our in-house interior design team, who has so decorated hundreds of homes so far. For every home, their goal is to increase the value of the property and of the TAKE FIVE lifestyle. Immediately upon walking into a home, you’ll feel right at home in a bright, cozy, comfortable place full of authentic local character and amenities of the highest quality.

How often does redecorating and refurnishing take place?

Work is done on an ongoing, as needed basis. We do everything necessary to keep the properties up to our standards.

Can we bring our dog or cat?

Pets are not allowed in any home.

Are these smoking or non-smoking homes?

All TAKE FIVE homes are smoke-free zones.

Are all homes completely equipped?

All five holiday homes will be fully equipped to a very high standard. The TAKE FIVE administration department services all of our homes, so that the occupants are free to relax and concentrate on enjoying life.

Are the homes insured?

All buildings and contents are insured, with the cost included in the annual cost contribution.


How can I get more details?

By registering your interest using the form on our CONTACT US page or calling our office.

usage & annual costS

Is there a limit to how often I can visit the properties?

The TAKE FIVE concept is extremely flexible! Every year, our Owners have the option to select 42, 63, or 84 holiday nights per year, according to personal preference.

How does the reservation system work?

The flexible TAKE FIVE reservation system offers a variety of options that include brief visits of just a couple of days or long stays that last for several weeks. TAKE FIVE Ownership includes convenient access to our user-friendly reservation website, and our multi-lingual support staff is always ready to help Owners with the reservation process. Just call or send an email.

How far in advance can I book a reservation?

You can begin to book for the following calendar year beginning on August 1.

How do you calculate TAKE FIVE'S annual operating budget?

Based on our years of experience in the administration and management of holiday homes and resort developments, and our expertise in the hospitality sector, we’re able to create a comprehensive, detailed annual budget. Once we’ve completed the annual budget, the amount is divided among the 22 Owners. TAKE FIVE’s activities are completely transparent, and we ensure accuracy by appointing Ernst & Young to verify the owner circle’s annual accounts.

What if I decide to make a spontaneous last-minute visit?

You can book a stay 48 hours in advance, if you like.

Can TAKE FIVE guarantee that our desired dates will be available?

Like any other hotel and holiday home booking system, we can’t absolutely guarantee that certain dates will be available. We do use a highly sophisticated booking system that includes a transparent priority methodology that ensures that all Owners have a fair chance to reserve their desired time frames. In addition, with TAKE FIVE’S international structure, families from the various European countries have different annual school holiday schedules. Finally, our Owners fall into varying life stages, ranging from families with babies or toddlers, to families with children who are limited by school holidays, to couples with adult children, to empty-nesters. This also has an impact on scheduling.

Which specific costs are covered by the annual cost contribution?

The annual cost contribution fee covers any ongoing costs for the holiday homes and their administration. This includes property taxes, insurance, scheduled annual repairs and inventory replacement, any additional fees such as third party administration, etc. Mandatory cleaning at checkout is the only added expense for Owners. Cost of any needed repairs (window replacement, repairs to broken pipes, and the like) that aren’t covered by applicable insurances or warranties are absorbed by the owner circle contingency fund. If those funds aren’t sufficient, any cost is equally shared among the owners.


How can I get more details?

By registering your interest using the form on our CONTACT US page or calling our office.

MISCELLANEOUS

Does the TAKE FIVE model compare with the timeshare concept?

No, it´s very different. With Take Five Ownership, you own 1/22nd of each of the five properties. As such, all Owners are listed on the title deed and registered in the land registry. TAKE FIVE Owners directly benefit from any market value appreciation. In contrast, timeshares offer a right to use a property (either in points or week-long intervals at a specific time of year) with no rights of ownership and no benefit from increased property value. Furthermore, TAKE FIVE properties are luxurious private homes – often detached houses – while the typical timeshare unit offers mid-range accommodations within a large holiday resort.

Is TAKE FIVE HOMES SL an Owner?

Yes. TAKE FIVE HOMES SL participates as an Owner in each circle. Our capital outlay and annual cost contribution is equal to that of any Owner. We’re making a long-term commitment, so our staff members will use the properties for quality assurance purposes. This prevents any loss of property use for Owners.

In the event that we decide to sell our Owner share, how is a price calculated?

Independent real-estate valuators from each locality will evaluate every property on a yearly basis to determine the market value. As you would if you were selling your home, you would then arrive at your own asking price. Of course, you’d have to decide on a more reasonable asking price if you’re in a rush to sell. TAKE FIVE will be available to assist Owners with selling ownership shares.

How does the selling process work?

It’s a simple process, similar to that of a traditional real estate transaction. It’s entirely up to you to find your own buyer or have us assist in the process. Related costs include transaction and administration fees.


How can I get more details?

By registering your interest using the form on our CONTACT US page or calling our office.