Estimated read time: 3-4 minutes
Love vacationing but tired of high nightly rental costs? Ever wished to own a vacation home without the burden of full ownership?
Enter: Ember, a Lehi-based startup offering vacation home co-ownership. Tailor your ownership to match your availability and budget, and with Ember, you can even rent it out when not in use.
It's no wonder why Ember hosted more than 1,000 owner stays in their properties in 2023 alone.
As co-ownership continues to gain popularity, you're probably wondering: How does it work? How is it different from a timeshare? Or, even, what's the catch?
Here are three areas that differentiate this new concept, along with why it's getting so much buzz today — and why it may be a fit for you.
1. 1/8th ownership, 100% of the experience
Historically, very few could afford a vacation home — especially in top destinations like 30A Florida, St. George, or Newport Beach. And even for families that could commit to a vacation property, research shows that they are only using the home for two to six weeks out of the year.
With Ember's co-ownership model, owners pay a fraction of the cost that corresponds to their ownership and they get at least six weeks a year for each 1/8th share they purchase. Ember sets it up so you co-own the property in an LLC with up to seven other owners. Once all eight shares are sold, you can sell your portion at any time and capture any appreciation in the property value.
Ember takes care of everything from handling the legal documents and vetting co-owners to preparing the home and maintaining it. It's a 100% turnkey experience.
2. The service of a 5-star hotel in your home
Each home is professionally designed and exquisitely furnished so you can simply show up and instantly enjoy the space.
A 24-hour property concierge is available for any issues that may arise. Is the wifi giving you problems? Did you lock yourself out? The on-call concierge will be there in minutes.
Ember has made scheduling and managing an owner's home an effortless process too. Through its custom app on your mobile phone, scheduling is a breeze, and it eliminates the need for any interactions with other owners.
With Ember, their commitment to you and the care of the home continues after you leave. They maintain the vacation home so you don't have to worry. The home is cleaned, linens are washed, the lawn is mowed, the pool is maintained. It is always ready for your next stay.
All you have to focus on is relaxing and creating memories at your vacation home.
3. Not a timeshare
Co-owning a luxury vacation home with Ember brings significant benefits, particularly in rapidly growing markets where equity-building is paramount.
Unlike timeshares, you own the real estate through an LLC, with your co-owners, which is a time tested and common way to own real property. When selling your share, you set the price, capturing any appreciation, and Ember manages the reselling process seamlessly.
With Ember, vacationing means paying yourself, a unique advantage compared to staying in someone else's Airbnb or VRBO. Owning 1/8th of the house offsets 7/8th's of the costs, thanks to other co-owners. Potential rental revenue and future appreciation further contribute to cost savings.
Ultimately, Ember's co-ownership model was designed for one thing: to help more families enjoy hassle-free vacations in beautiful homes — that they truly own.
Explore available properties, consult with an Ember advisor, and start making cherished memories in your Ember home within as little as 24 hours of purchase.
Ember Advisors are available for call or chat from 7 a.m.-11 p.m. Mountain Time. Call 1-800-366-6891
