This New Method of Buying Vacation Rentals is Becoming Increasingly Popular

Staying at high-end luxury resorts is every traveler's dream. But when you have a budget, it can seem out of reach. There's a way to make that dream vacation more accessible, thanks to the co-ownership model. People who are priced out of buying complete houses are turning to buy partial ownership. In the vacation home co-ownership world, you can choose to buy a portion of a luxury vacation home, instead of the whole thing—and only pay a fraction of the cost.

The co-ownership model has been around for a while, but until recently, it wasn't very well known. Now that more people know about it and how it can benefit them, it's becoming extremely popular. Say you want to buy a vacation home—you want to be in a specific location, at a certain price point, with certain amenities and features. For one reason or another, though, none of the homes available match your personal wish list perfectly. The co-ownership model changes all of that.

In a co-ownership arrangement, you aren't buying the entire property outright—instead, you're purchasing a portion of it (usually between 25% and 50%). You still get to have everything you wanted (or close to it), but your stake in the property is much smaller than if you had bought the whole thing. Because everything is divided amongst multiple owners, your cost is much lower than if all of the ownership was placed on your shoulders.

The benefits of buying through this model make sense when you think about them. If everyone owns part of a property, you'll likely have more people invested in its upkeep and maintenance than if they only owned part of it. You'll also likely have more people invested in keeping it in good enough

As the most desirable vacation destinations have become more crowded, those traveling to them are taking the opportunity to try something new. Many are turning to private homes that can be rented on a per-stay basis rather than rented out by the week or month. These homes are appealing to vacationers who want the experience of staying in a home rather than in a hotel, but they also offer unique benefits for homeowners who might otherwise struggle to rent their properties out during peak times: they give homeowners the ability to share their space with guests while still maintaining exclusivity and privacy. In other words, people are finding a way to make both parties benefit.

Ember is revolutionizing the way homeowners rent out their properties by taking the hassle out of renting a property. The company streamlines the process of renting a home and provides a no-hassle vacation rental experience, including an end-to-end online booking platform, professional design services, and cleaning and maintenance staff on call. With Ember, homeowners get to focus on what they love while Ember handles what they don't—it's like having your own personal assistant who focuses exclusively on vacation rentals!

Image: Ember

In an effort to bring back that feeling of hanging out at a friend's house during your vacation, each home is professionally designed and comfortably furnished so you can simply show up and instantly enjoy your home. The company aims to eliminate every hassle typically associated with renting a property. You don't have to worry about cleaning fees, arrival or departure logistics, or any other miscellaneous fees that often pop up when renting a place sight unseen online. This eliminates one of the most stressful parts of travel—the planning leading up to it—and allows you to focus on enjoying your trip instead of stressing over what might go wrong.

The intersection of luxury and logic

Home-sharing services like Airbnb and VRBO have revolutionized the lodging industry by allowing people to make extra money by renting out space in their homes, providing a great alternative to hotels for travelers. But while these services are still growing in popularity, they face an inherent limitation when it comes to the potential of earning profits: People use them as much to make money as they do to save money. With a rental service like Airbnb, you're renting out space in your home, which is something that's expensive to replace if you chose not to use it—this means that even if you could rent your home for $200 per night, you may not be able to stand making $200 less each month and only using your house for one month of the year, and so you're much more likely to opt for the $50/night option instead.

Image: KSL

But Ember has a solution for this problem: They've created an opportunity for people who don't have extra space in their homes but still want the benefits of making extra money off their assets. By purchasing a share of someone else's home through Ember, you are essentially buying yourself a vacation home—complete with all its costs and benefits, including potential rental revenue and appreciation.