The exciting world of co-ownership – Holiday homes and jet planes

We share yachts… but we’re not the only ones making waves in the sharing economy. NetJets, which has been around for decades, does the same for people wanting to co-own jet aircraft, and the relative newcomer Pacaso is all about co-owning luxury holiday homes.

NetJets – Fractional ownership of private business jets 

US-based NetJets Inc. sells fractional ownership shares in private business jets, offering co-owners guaranteed access for anything from fifty to four hundred hours a year, depending on the deal, at as little as four hours’ notice. If their own plane isn’t available at the time, they can choose from a stable of alternative jets. 

The craft’s owners pay a monthly maintenance fee for a minimum of fifty flight hours a year, signing up to a five-year agreement and also paying hourly operating fees. As an alternative, they can buy 25-hour chunks of flight time via a popular jet card programme. 

Originally founded as Executive Jet Airways in 1964, NetJets launched its fractional ownership business in 1986, making it the world’s first-ever private business jet charter and aircraft management company.  And the idea has proved very popular. In 2012 they broke records by placing the biggest ever aircraft order in private aviation history, a deal worth an eye-watering $17.6 billion US dollars, at the same time becoming the aircraft manufacturer Cessna’s biggest jet fleet owner. These days NetJets is the world’s largest fractional plane provider, flying an awe-inspiring 478,444 hours in 2021 alone.  

Like us, they’re thriving. September 2023 saw the firm announcing its intention to buy as many as 1500 Cessna Citation jets from Textron Aviation, with deliveries kicking off in 2025, proving that sharing jet planes is a popular idea.  

Pacaso luxury holiday home vacation home co-ownership

Founded in 2020 and one of the fastest growing US ‘unicorn’ businesses, Pacaso is all about finding a luxury holiday home, choosing the level of ownership you want, and leaving the rest to them. The home belongs to the people sharing it, so it’s nothing like a timeshare. 

Co-owners enjoy a fully managed Limited Liability Company model rather than a standard DIY co-ownership deal and like yacht share, it means people can own a bigger, better holiday home along with lower costs and no hassle. The company has hundreds of ‘available now’ properties for instant co-ownership as well as curated third-party listings to transform into fully furnished holiday homes to share. 

Pacaso fits out every home on offer with high-end decor, lush contemporary interior design and the best possible amenities, and people can finance as much as 70% of the purchase price with competitive mortgage rates. The deal can be completed within a few days. If co-owners want to sell up they can do so after 12 months on their own terms, usually netting around 10% profit. 

The idea is you buy an eighth or quarter of the property, share the costs with the other co-owners, and enjoy support from a dedicated Home Manager team that manages every aspect of it including maintenance and bill-paying. You book time via an app and most people use their holiday homes 6 or 7 times a year. 

The popularity of luxury yacht share, luxury holiday home share and luxury jet share proves the long-term value of our business model. Where will the sharing economy go next? It’s an interesting thought. In the meantime, if you’d like to share a stunning yacht with like-minded people on a no-hassle, affordable basis, let’s talk.