Kaverna

Take the first step toward owning your dream second home 

Kaverna's offering is not being extended to anyone in a jurisdiction that would require government approval. Homes listed on this website are meant for personal use only — this offering is not an investment vehicle and buyers should not expect profit or income.   

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Co-ownership Policies: Scheduling Options

As the only true and flexible co-ownership solutions provider and multi-member LLC manager, Kaverna has designed three scheduling solutions that interested buyers can choose between to get the perfect co-ownership experience for them.


Ongoing Access


What is the Ongoing Access scheduling system? With Ongoing Access, owners can book their stays in the home whenever they'd like, and Kaverna designed the scheduling system to allow owners to book time in the same relaxed way they would plan stays in their own home. Each owner gets a set number of days each year that they can access the home, and the most desirable dates each year (i.e. peak season, holidays, etc.) are divided proportionately among co-owners based on their ownership amount. Ongoing access scheduling systems provide the maximum scheduling flexibility, making it ideal for travelers who want the option of booking trips of various different lengths spontaneously and far in advance. That said, this maximal booking flexibility makes it incompatible with renting. This system is also common in co-ownerships where co-owners live relatively close to their second home, often driving distance. And, Kaverna's easy-to-use owner platform allows owners to instantly make and view their reservations and browse the home's future availability.


Example: Four co-owners each have 1/4 shares in a home in Colorado, allowing them to book 90+ nights each year. The holidays and the best times of year for skiing and hiking are divided equally among co-owners.


Fixed Time


What is the Fixed Time scheduling system? With Fixed Time, each co-owner gets access to the home for specific dates each year, and those dates remain the same for each co-owner each year. This scheduling system requires the least amount of effort and is the easiest to plan for. Because owners know the exact dates they have access to the home each year, they can plan their trips far in advance. This foresight also allows owners to know in advance what days they will not be using, allowing them to rent that time and benefit individually from any rental income they generate. Owner using a fixed time scheduling system can choose to allow or forbid renting, but this system makes renting an option. This scheduling system is particularly appealing to existing second homeowners who love their second home but aren't getting the most out of it, so they want to sell down part of their home under a co-ownership structure while retaining access to the home for specific times of the year.


Example: An existing second homeowner of a home in Malibu loves their home, but only gets to use it from August to November. To realize near term liquidity and share the annual home expenses, she decides to sell 2/3 of the home to two other owners, one who want it as a Winter home and another who wants it as a summer home. The three co-owners each have 1/3 shares, giving them access to the home for four months each year. None of them mind renters being in the home, so they decide to allow individual renting, allowing each co-owner to make their own rental income, making co-ownership an even smarter investment than it already was.


Annual Draft


What is the Annual Draft scheduling system? With Annual Draft, once a year, the co-owners participate in a draft where they select the dates they get access to the home for the upcoming year. Typically, drafts operate as rotating snake drafts of one week at a time, meaning that the person who drafts last in a round gets to draft first in the next round, each year the order of the draft rotates, and each draft is a selection of one week at a time. That said, it is not uncommon to draft two, three, or even four weeks at a time, depending on what the co-owners want. This system requires low scheduling effort, with only one day per year that owners need to book time. Like Fixed Time, this scheduling system is easy to plan for since owners know the exact dates they have access to the home each year, allowing them to plan their trips far in advance and choose whether or not to allow renting. Under this system, rental income is most often pooled together and shared among co-owners in order to avoid incentives for co-owners to draft desirable dates just to rent them out. Annual Draft scheduling systems are common in vacation destinations that take owners a bit more time to travel to, often a flight away. This system is also a nice middle ground, with annual booking flexibility, low scheduling effort, and the ability to generate pooled rental income.


Example: Five co-owners each have a 1/5 share of a home in Nosara, Costa Rica. Two of the co-owners are avid surfers, so they like drafting time around and during the summer, which is when the waves are best. Fortunately, this time coincides with the rainy season, which is the time when the other three co-owners would not have gone, so they draft their vacation weeks in their home for the rest of the year. This scheduling system is perfect for allowing these five co-owners to each get 10 weeks of access to the home annually during their ideal times. Any unused time is rented and rental income is pooled and shared among co-owners.