Our Founder recently had the opportunity to sit down with Ko Founder & CEO Ryan Fritsch, to learn about the launch of the digital co-ownership platform, managing the end-to-end home ownership experience in Australia.
Ko is an Australian company co-founded by Ryan Fritsch, John Hanna and Ash Kirvan, a team with a strong background in leadership, technology and venture experience.
Ko is a luxury holiday home ownership platform for buyers, investors and a creative new market for luxury real estate. Ryan has seen the growth of the co-ownership market in the US and Europe over the last two years, with companies such as Pacaso. Ko is the first online platform in the Asia-Pacific region, selling shares of luxury homes and thus dividing the price of each home into eight equal shares and offering true ownership.
Each luxury home is managed and maintained by the Ko property team, while its innovative booking platform ensures each owner gets fair access to the property. Buyers of the shares, can purchase up to four shares, with each share equalling up to 42 bookable days a year.
Properties are mainly located within driving distance of capital cities and offer up a range of holiday hotspots, from coastal to rural destinations. It currently has properties available in Australia, Indonesia, Japan and Malaysia with properties to come in New Zealand and Thailand. Each home is professional cleaned and maintained after each stay.
Each owner has the right to decide the property’s future, as well as the right to sell their share or shares any time at a price they choose. Plans for the home are agreed to by consensus with each share equaling one vote.
Ko has partnered with THIRDHOME homeowners network, allowing members to trade unused time for travel to different destinations worldwide.
HOW Ko WORKS – Ko IS THE MODERN WAY TO OWN A HOLIDAY HOME: Ko MANAGE IT, YOU OWN IT.
BUY
Buy your ideal number of shares and Ko-own a luxurious holiday home with up to eight (8) owners. Explore the collection to discover your perfect match.
BOOK
Booking your stays with Ko is fair, flexible, and easy with their seamlessly integrated booking engine – up to 42 days per year for an 1/8 share.
ENJOY
From property management to administration, to maintenance and furnishings, Ko provides a managed and hassle-free experience so you can make the most of your holiday.
UPKEEP & MAINTENANCE
When you become a Ko-owner, house expenses will be evenly shared between owners based on the ownership percentage each holds, with all costs made fully transparent. The ongoing cost maintenance and upkeep is billed monthly and it includes:
UTILITIES
This includes your normal bills such as gas, water, electricity, and sewer – all the basics to make your luxury home functional. For some homes, Wi-Fi is complimentary, otherwise, this is also included in the utility costs.
CLEANING
After each use, professional cleaners will ensure the property is clean and ready for the next owner. They will inspect the stock of consumables supplies and replenish as necessary.
PROPERTY MANAGEMENT
Ko partners with professional property managers that specialise in the areas where luxury holiday homes are located. The property management team takes care of the day-to-day of your home, so you don’t have to.
PROPERTY TAXES & INSURANCE
Ko provide full transparency over the taxes and insurance that are paid for as part of the ongoing fees of a Ko-home. These are property and destination dependent.
REPAIRS RESERVE FUND
Things can break or wear out, that’s when a repairs reserve fund comes in handy. If the repairs required are small and rountinely, the property management team will see to them without seeking approval from owners. For bigger home improvements, owners will be asked to approve any expenses.
To learn more about how to own your luxury holiday home visit Ko Homes or contact your Concierge Manager.
