Get to know Mojo Sharing
a shared house concept with many benefits
Below are some of the frequently asked questions about Mojo Sharing. If you do not find the answer to your question, then please contact our sharing specialist, Lise Krantz Dalgård – you can do so at the bottom of the page.
Questions and answers about Mojo Sharing
Why choose Mojo Sharing?
Naturally, there will be more money available to buy when 5 families each contribute an amount. This means that you can buy a holiday home in a more beautiful condition, with more square meters or in a better location.
For €80,500 per family, we can find a home with a total value of about €375,500.
Mojo Sharing gives you access to some of the most attractive houses on the Costa del Sol, while providing everything practical.
How does Mojo Sharing work?
We set up a Danish limited liability company – with or without rental as earnings. The company is the sole owner of the Spanish residence. This is how you save on transaction costs if the families who own the property are replaced.
The articles of association of the limited company state the terms of purchase and sale of shares, and the use of the dwelling. There is thus complete clarity about the formalities.
Of course, when you buy your share, we know the property you are investing in. It is ready for use, and you can of course come and inspect it before the transaction.
Who will find the other families?
Mojo Sharing makes it easy for you to buy a share of a home on the Costa del Sol. Here, families subscribe to the sharing concept and state their preferences. Then we match the wishes and needs of the different families according to location, style, etc., for specific homes.
If you and a friend are looking for a shared home, you can buy a share each and together have 20+ weeks of use.
How is the right of use divided?
With Mojo Sharing, each of the 5 families has the home for 10 weeks and 3 days a year. Through articles of association and conditions, we ensure that certain holiday weeks, holidays and seasons are evenly distributed among families over the years.
This is done on the basis of a booking system, and each family knows what weeks they have at their disposal far into the future.
Do you have to be 5 families?
In our opinion, 5 families are the best foundation for sharing a holiday home within our sharing concept. With over 10 weeks of use a year, there are good opportunities to make the most of your holiday home.
At the same time, you and the four other families avoid having to pay Danish property tax.
Is rental allowed?
If all families agree that the home can be rented out, the articles of association and conditions take this into account so that each family can choose to rent the home out in the weeks they do not use it themselves. Of course, it is voluntary. But an opportunity for extra earnings where the house would otherwise be empty.
The rental is done through Mojo Rentals , who provide everything in connection with the rental – including marketing, key management and cleaning etc.
Rental does not only covers operating costs, but can also provide extra earnings. The rental income is distributed as follows:
- 60% of the rental price goes to the family who “owns” the rental week
- 20% of the rental price goes to the families’ company and covers wear and tear, etc.
- 20% of the rental price (including VAT) goes to Mojo Rentals
What does the total deposit cover?
The total contribution of, for example, €80,500 per family covers:
- The house incl. local taxes
- Attorney and Notary Fees
- Company establishment
- Articles of association
- Marketing etc.
Are all owners jointly liable?
No, there is no joint liability in the Danish limited liability company that owns the property and which you are part of together with four other owners.
The property cannot be mortgaged, so you do not run any risk when buying a house on Costa del Sol with Mojo Sharing.
What types of financing are possible?
There are several ways to fund your 20% of the total deposit. And we can advise you on which option is optimal for you. It can be one or a combination of several of the financing options below.
Can the share be resold?
Yes – you can sell your share at any time. The change of ownership takes place in the Danish private limited company, so you do not have to pay transaction costs or anything else if you find a buyer yourself.
To help you find a new buyer for your share, we take 5% of the sale price (excluding VAT), which we determine after assessing the total value of the house.
The demand is high and there is a high probability that you will be able to sell your share even after a short time.
Is Mojo Sharing some kind of timeshare?
No, Mojo Sharing is not a timeshare concept.
You do not just own a right of use for a house with Mojo Sharing. You actually own a part of the property (20%).