Our Property Company asset management fee is a fixed amount that varies depending on the country, with no expected increases.

Owners receive operating expenses at cost with no markup, and with all expense statements available upon request. As manager of the Property Company, Secconda will only adapt fees to changes in household expenses. For example, if there is an increase to the insurance cost of the home, expense statements will increase accordingly.

Each Property Company will have the equivalent to an operating agreement. However, the terminology and documents will depend on where the Property Company is formed. Secconda will only have limited authorization for non-material changes on behalf of the owners, while any material changes must be subject to ownership vote. In any case, this will depend on each country.

The reserve funds are held in the Property Company’s bank account which is managed by Secconda for exclusive use towards home maintenance and repairs. Major repairs must undergo a transparent competitive bid process after which costs will be covered by the reserve funds.

Yes, Secconda serves as corporate guarantor, thereby protecting other owners should one of them default.