co-owning a holiday<\/a> home means the same benefit at a fraction of the cost? We weren\u2019t lying. When you become a K\u014d owner, house expenses will be evenly shared between owners based on the ownership percentage each holds, with all costs made fully transparent.<\/p>\n\n\n\nThe ongoing cost for maintenance and upkeep is billed monthly and it includes:<\/p>\n\n\n\n
1. Utilities<\/h3>\n\n\n\n
This includes your normal bills such as gas, water, electricity, and sewer \u2013 all the basics to make your luxury home functional. For some homes, Wi-Fi is complimentary, otherwise, this is also included in the utility costs.<\/p>\n\n\n\n
2. Cleaning<\/h3>\n\n\n\n
After each use, professional cleaners will ensure the property is clean and ready for the next owner. They will inspect the stock of consumables supplies and replenish as necessary.<\/p>\n\n\n\n
3. Property Management<\/h3>\n\n\n\n
K\u014d partners with professional property managers that specialise in the areas where luxury holiday homes are located. The property management team takes care of the day-to-day of your home, so you don\u2019t have to.<\/p>\n\n\n\n
4. Property Taxes and Insurance<\/h3>\n\n\n\n
We provide full transparency over the taxes and insurance that are paid for as part of the ongoing fees of a K\u014d home. These are property and destination dependant.<\/p>\n\n\n\n
5. Repairs Reserve Fund<\/h3>\n\n\n\n
Things can break or wear out, that\u2019s when a repairs reserve fund comes in handy. If the repairs required are small and routinely, the property management team will see to them without seeking approval from owners. For bigger home improvements, owners will be asked to approve any expenses.<\/p>\n\n\n\n
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Fully Managed Home<\/h2>\n\n\n\n
The K\u014d platform fee costs AUD$150\/month per co-owner.<\/p>\n\n\n\n
Our state-of-the-art application ensures that you have a hassle-free holiday home ownership experience. It is there for K\u014d to manage the entire ownership experience, from owner bookings to the maintenance and administration of the property.<\/p>\n\n\n\n
The management fee is fixed for all homes.<\/p>\n\n\n\n
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At K\u014d, we believe in the importance of transparency in pricing. Statements are shared with co-owners quarterly with a full reconciliation yearly. Owners will also receive a financial statement for their property, a balance sheet, and a cash-flow statement.\u202fCost statements can be made available upon request.\u202f<\/p>\n\n\n\n
Disclaimer: Any product information is provided on a general advice basis only. Any advice has been prepared without taking into account any investor’s objective, financial situation or needs. The investor should then consider the appropriateness of the advice in light of their own circumstances before following the advice and seek professional personal advice from a financial adviser.<\/em> <\/p>\n\n\n\r\n\r\n