18 Apr TA:06 The share economy comes to real estate ownership
The world is thirsty for ways to use our finite resources smarter, easier, and cheaper and this is giving rise to a burgeoning share economy. If you don’t want to use all of something, all of the time, you can share it. It may be a car trip, short stay accommodation, a book, or even a dress for Saturday night.
Now you can share the ownership of property thanks to Kohab. (Clever name eh…)
When I first heard about how I could literally share the ownership of property with someone I didn’t yet know, my traditional real estate mind exploded with “what ifs” and why it wouldn’t work. After this chat with Kohab Founder – David Dawson I was sold. And it wasn’t that hard a sell. The Kohab website covers all the obvious questions and we dig into more here in this interview.
Co ownership of property is centuries old and anyone who owns the family home with their partner is already doing it. Kohab just ads a layer of connectivity, a pinch of “tenants in common” and then wraps it up with a co ownership agreement to allow the joint owners to document the rules they agree upon. It sounds simple but it has taken them over a year to iron out all the wrinkles to present a elegant solution.
The scenarios of where Kohab works just keeps growing the more you think about it. It may be…
- 2 or 3 friends getting together to buy their first home
- Mum and Dad buying a home with their kids who will later buy them out.
- A few families buying a holiday house together that is rented out when they are not using it.
- A couple of mates buying an investment property or two.
- Buying part of a property with a like minded soul to occupy or invest.
While this is Talking Apartments, Kohab applies to any property and it could be an investment, your home, holiday home, or the home of your friends or family.
Its a fascinating chat and I hope you like it.