Why a Clear Agreement Matters
Co-owning a dream home in Mallorca works best when rules are clear and shared from day one. That’s why every Palmallorca Co-Ownership starts with a written Owners Agreement.
It defines how the group of co-owners will use, manage, and enjoy the property — fairly and with minimal friction.
What’s Covered in the Agreement
Here’s what all co-owners agree to when joining a Mallorca Homebase company:
- Property Usage:
- Each 5-week block equals 100 shares (9.62%)
- Usage rights tied to shares — not specific dates
- Book your weeks via the shared calendar
- Voting & Decisions:
- 1 vote per week (20 shares)
- Simple majority (over 50%) for most decisions
- 2/3 majority required to sell the property
- Maintenance & Upgrades:
- Local property manager handles day-to-day care
- Larger upgrades require group approval
- Budgets include a reserve for improvements
- Renting Out Weeks:
- Allowed within platform rules
- Income goes to company, booked to owner’s account
- Reduces that owner’s shared cost — no personal tax
- Fair Use Calendar:
- Prime, Premium Chill, and Peaceful Months
- Booking is rotated when needed
- You can reserve your weeks up to 24 months ahead
Example Voting Power by Ownership
Admin Support and Transparency
- The Company Administrator leads the company operations on behalf of the owners
- They are a trusted local resident
- All owners are visible in the online group for the property
- Quarterly and annual updates to the Spanish company register
- Everything is GDPR-compliant and transparent
Built for Respect and Independence
Most of our survey respondents don’t require knowing their co-owners personally.
They just want verified co-owners who fit the same dream profile — and a well-managed property.
Still, when someone joins, their name and profile is shared in the group. Owners can communicate, suggest upgrades, or just enjoy the property quietly. It’s your choice.
You’re Not Locked In
If your life changes, you can sell your shares — and exit the ownership.
You can list them in the Palmallorca Co-Owner Marketplace or we can assist.
Co-owners always get first right of refusal at the same price a third-party buyer is ready to pay. This secures a fair market and protects current owners.
