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What is Fractional Ownership at Appassionata? Boutique and luxurious, family owned Appassionata offers a simple way to own an overseas property for a fraction of the cost. Fractional Ownership allows a number of buyers to collectively own a luxury property, which is professionally managed and maintained. As a lifestyle investment, Fractional Ownership makes sense. On average, a holiday homeowner only uses their property for 40 separate nights but pays for the entire year. Fractional owners don’t have the financial burden of maintaining the property all year round; they simply split the maintenance fees with fellow owners. Appassionata’s owners buy a 1/10th interest in their residence of choice, which allows five weeks residency each year. Appassionata’s owners are investing in ‘bricks and mortar’ – an asset which can be passed on to family. “When you buy into Appassionata you buy a lifestyle. A real Italian lifestyle. A region full of wonderful people who are passionate about their land and take pride in their life.” Owner Testimonial
Appassionata’s properties are owned by their members, through a UK based non-trading company. When members wish to sell, gift or transfer their membership it is a straightforward process which can also be executed easily from overseas. It does not involve the complexity or cost of transferring property under the Italian legal and tax system. In simple terms:
‘The Members own the Company - the Company owns the property.’ The Lifestyle Investment: Il Riposo - ‘The Retreat’ has 70% sold through and is available at the special price of £105,000, for a 1/10th fractional share with 5 weeks residency every year. Casa Tre Archi, Casa Giacomo and Casa Leopardi have sold out! Please check the property section of our website for resale opportunities.
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Residency
The Residency Calendar ensures owners have annual access to the peak months; it is simple to operate and provides flexibility for all. Using the annual reservation system members will reserve 2 consecutive weeks over the peak period (May to the end of September) and then reserve their remaining 3 weeks during October to April, in any combination, on a rotating priority basis. There are 10 members in the priority system for each residence. Priority is established upon initial purchase. Each year members move up the priority list, e.g. if you are fifth one year you are fourth the next, etc. To ensure a fair system, the member who has first choice for the selection of peak weeks will have the tenth choice for non-peak weeks.The management company hold two weeks for maintenance purposes that can also be exchanged if necessary. Weeks can be exchanged with co-owners, used by friends and family or rented to a third party. The reservation process takes place each year in September/October where members choose their weeks for the following year
Property Management & Annual Service Charge
To ensure that Appassionata’s properties are always luxuriously maintained, an annual service charge is payable by each member. This charge is calculated on the total running costs of the estate and is divided between members equally. This is one of the great benefits of fractional ownership and reduces the liability you have for the running costs of the property. It also allows you to arrive at your holiday home, ready to start your holiday; without the normal anxiety you may feel if you owned the property outright and were wondering what your first job may be!
These annual dues cover various costs, including: • • • • • • • • • •
Housekeeping (handover cleaning, linen and towel changes) Essential foodstuffs Maintenance Gardening & swimming pool costs (if installed) Company legal/accounting Building and contents insurance Capital reserves (sinking fund for replacements and future decoration) Utilities Property taxes Management charge
All expenses are charged on an actual cost basis and are available for review by members. Any differences with expenditure will be either charged or refunded after the accounts are finalized each year. The annual service charge per fractional share is budgeted each year and equally divided between the 10 owners. Professional management is provided by an Appassionata company, who’s Italian studio is a short distance away.
Discovery Trip Driving along the coast road and inland to the rolling hills, the landscape changes to vineyards, olive groves and hilltop towns. Wind down the windows and inhale the wonderful blend of sea and mountain air, feel your body relax as you take in the spectacular views. We will meet you in one of the beautiful medieval villages of Patrignone or Petritoli, to show you
around our very special and unique properties. We are here to answer any questions you may have, we usually do this over lunch or dinner in a relaxed and informal way. Where possible we love prospective clients to stay in their chosen property during their discovery trip so they get the chance to see and feel what a special home it is. Alternatively Appassionata are also delighted to
offer accommodation, for two people, in their guest apartment located in the Palazzo Scarsini, a wonderful 15th century vaulted apartment. Appassionata happily pay for the first nights accommodation for 2 people and lunch or dinner during your stay. We really look forward to welcoming you to Le Marche and show you why we fell in love with this very special place.
Benefits – A Lifestyle Investment A key reason people invest in fractional ownership is to access a luxurious property of considerably higher value than the capital outlay required for 1/10th fractional ownership.
With a fractional property there is no need for owners to carry out maintenance, they benefit from less expenditure and professional management on hand.
When taking a holiday in their home from home they do not want to worry about management and upkeep, they merely want to relax .
The lifestyle Appassionata brings to owners allows them to connect more deeply with the lifestyle and culture of real Italy.
Let Appassionata deliver you the perfect Italian Idyll, an Arcadia by the sea and the mountains all for you to own a piece of…
Key Benefits of Appassionata Fractional Ownership: n Increase your buying power. n Membership gives you full access to the property and grounds for each residency week.
n A low one off purchase cost – through a UK based company that is simple and straight forward. n All annual running costs shared between members which are fully transparent and cost based. A well established membership group that control the UK company. Appassionata Copyright 2017
n Professional on-going local management n Easy transfer or sale of membership in the UK Company at any time n A long term relationship with this wonderful untouched part of Italy
Fractional Ownership Frequently Asked Questions SHARE OUR PROPERTIES
1. Is the property offered a deeded property?
6. What fees do you charge?
Yes, the property deeds are owned by a UK based company. Members own the company, the company owns the property.
2. Are the weeks offered fixed or variable?
The weeks are reserved each year on a rotating priority basis, to ensure each owner always receives 2 weeks in the peak season and 3 weeks in the off peak season.
3. Is the building completed yet?
There are no application fees when purchasing the share. Appassionata charges an annual maintenance fee which is costed and equally split between all of the owners to cover property running costs.
Appassionata has been operational since 2007.
8. Can I visit the property before buying a share?
Il Riposo was completed in the summer of 2016. Book a discovery trip and see for yourself!
Any resale opportunities are listed on the property section of our website. if you would like to receive details of new opportunities via email, please express your interest by contacting India Hobbs at:
9. If I decide to purchase a fractional share in a property, can I change my mind: if so, by when?
ifh@appassionata.com.
4. How much does it cost?
The price for a share in Il Riposo is £105,000. Selling prices will increase over time.
Casa Tre Archi, Casa Leopardi and Casa Giacomo have now sold out! Please check the property section of our website for resale opportunities.
5. Exactly what does ownership include? A 1/10th fractional share (5 weeks ownership) of Appassionata’s properties includes a right over the use of the specific property.
7. How long has the company been operational?
11. How does one book for popular holiday periods e.g. school holidays, and what booking system is in place e.g. first come first served and is there any priority amongst owners?
Yes, we would strongly recommend a discovery trip as soon as possible. For those who are truly interested in knowing more we are offering a wonderful opportunity to visit Le Marche.
Yes, of course. There is a 14 day ‘cooling off’ period after we have received your completed application form, just in case you should change your mind.
10. What is the process if I wish to sell my fraction in the property at any time in the future?
You are free to sell your fractions at any time, at a price that you agree with the purchasing party. Re-sale of a share in an Appassionata property must first be offered to existing members before offering to a third party. Appassionata will assist owners in the sale of their membership if they desire. Appassionata Copyright 2017
You will get an opportunity, on a rotating priority basis, to book these periods and you can always exchange weeks with other owners as well as, when possible, the service weeks held by Appassionata. Furthermore, your weeks can be used by friends and family or rented to a third party.
12. Are there any fees in addition to the fractional property purchase? No 13. Does the company have plans to raise prices – if so, when and by what rate and what factors would influence such price increases in the future?
Appassionata has positioned its initial fractional share purchase costs at a very competitive price. It is intended that these prices will increase over time to reflect the true value of their developments.
Fractional Ownership Frequently Asked Questions
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17. What do you believe are the strengths and weaknesses of the company and properties available and why should I ultimately buy this one in comparison to the choices available?
Appassionata is set in the wonderful region of Le Marche which boasts a tremendous combination of history, culture and leisure activities.
This is real Italy, where many Italians take their annual holidays. Il Riposo is beautifully positioned in a medieval village, with amazing views over rolling hills and mountains. The quality of the construction, interior furnishings and facilities reflect a truly luxurious proposition.
Appassionata is not only the developer but a sister company provides the property management.
Appassionata is a small boutique family business; we are not a large faceless commercial organisation. Our pricing structure reflects tremendous value that is hard to find in an equivalent development.
14. Are there any ownership rules – e.g. Is smoking allowed?
House rules will be made available as part of the application process, an important rule is smoking is not allowed inside any of the properties.
15. What other amenities can I expect at the property?
Depending on the property you purchase you will be blessed with a wonderful array of amenities and unique features. There will be unique outside space and where created, indivdually designed swimming pools. The website has further details in the property section.
16. Who owns the properties at present and what happens if the property company fails?
The property is owned by a non trading, UK registered, limited liability company which has been established to operate the estate on behalf of all its members. There is no external funding for this project; the cost of the development and purchasing the land has been funded by Appassionata Ltd through an inter-company loan which is repaid as fractions are sold.
Please come and see for yourself!
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