Frequently Asked Questions

What exactly am I buying?

You’re purchasing ownership rights into an Oregon LLC, which will control the Barnam home that is located on the property. This will give you ownership and access to the home along with 7 other owners for a total of 8. For more details on the property and the Barnam home, please check out the Barnam Lakehouse page.

What is the listing price?

$119,460 a share.

What is shared ownership?

Shared ownership means that you and other co-owners take part in sharing the legal ownership of the home. You will also be able to make scheduled reservations and have exclusive access to the home and property during those times. This is NOT a time share as each owner will hold legal interest in the property.

How will Everywhere® be involved?

Everywhere, Inc. will be involved on several levels. First, Everywhere will be the one that makes the purchase of the property. Everywhere will also perform all of the survey, site planning, architecture, engineering and other pre-construction services. Everywhere will also manage the permitting and construction process. Once the home is complete, Everywhere will be providing the scheduling software and also concierge service that takes care of things like cleaning, landscaping and assistance with finding buyers when you’re ready to sell your shares.

Will I own the property?

Yes! You and your co-owners 100% own the property together through an LLC. The ownership interests can then be resold, willed, placed in a buyer’s personal name, trust or corporation.

How do I schedule my use of the home?

We’re working on a web app, which will eventually become a mobile app. It will be a great design most importantly equitable for owners based on the amount of shares you own in the home.

How many weeks do I get each year?

The owners may purchase 1/8 of the residence. 1/8 owners receive 44 nights per year in the home. Additional time may also be available and will be on a first-come, first-serve basis as reservations are used.

Are the homes fully furnished?

Yes. The home will come fully furnished using modern with a hint of rugged furniture and decor. We’re currently working on partnerships with brands to fully outfit the home with incredible products that can be used during your stay.

Will the home appreciate in value?

Your home will appreciate in value just like any other home on the market. After 12 months of ownership, you have the ability to sell your share for any price you’d like. Since we have a network of interested buyers, we can assist the transaction for you.

What if I want to sell?

If you want to sell your share, you may do so after 12 months. When that time comes, we will reach out to our network of buyers to assist with the transaction. If no buyers are available you’re able to use your own real estate agent.

How are my co-owners selected?

We have a vetting process to ensure that your co-owners are the best possible fit for the home. All owners will sign an owner code of conduct agreement to ensure all parties are on the same page.

Can I finance my purchase?

Yes. As a buyer, you have the option to use any source of capital you choose for the purchase of the home.

Does this work like a normal real estate transaction?

Yes. Similar to typical real estate transactions, the closing process and transaction documents are the same.

Who is responsible for maintenance and repairs on the home?

Everywhere manages every aspect of the home including landscaping, cleaning and maintenance. If any repairs need to be made, Everywhere will manage the process through local professionals.

Can owners rent out the residence?

No. First and foremost our focus is on sustaining quality within the home so that each experience for the owner is top notch. The homes are reserved exclusively for owners and their guests.

What if a co-owner damages the home?

After each use, the home will be thoroughly inspected. If damages beyond normal wear and tear occurs, the repair costs will be billed to the owner that was using the home.

Can I own a share in more than one Everywhere® Home?

Of course you can! Imagine having multiple shares in multiple homes all over the US and eventually the world, as you focus more on remote work and travel

Can owners use an LLC or trust to buy their share?

Yes. You’re able to purchase your share under your personal name, LLC or the name of a trust.

How does scheduling work?

The Everywhere App will manage all of your stays. All you have to do is log in and schedule your stay. You’ll receive an immediate confirmation and our concierge will ensure that the lights are on and you’re all ready for your stay.

How much time will I have in my home each year?

Owners may purchase 1/8 to 1/2 of the residence. Each 1/8 owner receives 44 nights per year in the home. 1/2 owners will receive 176 nights per year. Additional unused time may also be available and will be on a first-come, first-serve basis as reservations are used.

What if I want more time at the home?

Additional time will be available and will come on a first-come, first-serve basis as reservations are used. Whenever there are additional nights requested, a small nightly operating fee is assessed to cover operating and ownership costs. The fee will then be added to the repair and maintenance fund which belongs to the ownership group.

Are there assigned weeks each year?

No. We realize that everyone’s schedules are frequently changing. That’s why we’re building an open scheduling system that is based on a first-come, first-serve model.

Are owners given priority in scheduling?

No. We’re designing this system to give complete flexibility and equal access to all owners.

How will the Everywhere App work?

The Everywhere App will give you the ability to manage and schedule your stays at the home. You’ll be provided with a username and password where you can log in, look at a calendar, select your dates, and receive an instant confirmation for your stay.

What does the Home Concierge do?

Each home has a dedicated Home Concierge. Your Home Concierge will assist in everything related to your ownership in the home, along with all of your stays. From organizing annual meetings to making sure the pool is warm when you arrive, your Home Concierge will keep everything running smoothly for you.

What is the arrival/checkout times for owners?

In general, the arrival and departure times for owners would be at noon. If an owner wants to arrive sooner or leave later, please contact your Home Concierge to coordinate. Your Home Concierge will be scheduling other owners as well as cleaning appointments, but they will be more than happy to accommodate you.

How will I know if my stay is confirmed?

When you book your stay, the app will confirm it instantaneously.

Can I schedule back-to-back stays?

No. Every time an owner books for a certain amount of days, their next booking will be delayed for that same amount of days from the current booking. So for example, if you book 7 days, the scheduling system would block out the next 7 days from your checkout date so that those dates are open to other owners. This keeps everything fair and gives owners the ability to enjoy certain times of the year as well.

What is a “Scheduled Stay”?

Scheduled stays are booked 8 to 24 months in advance. Stays that are between 2 to 7 days count as one Scheduled Stay, and stays of up to 8 to 14 days count as two Scheduled Stays. Each share is allowed up to 6 Scheduled Stays at a given time.

How much of the calendar can be booked by owners?

Due to each share having only six Scheduled Stays, over a 24-month period (or 104 weeks), there will never be more than 50 weeks scheduled by owners, in the aggregate, at any given time. This means that at any given time more than 54 weeks of a 24-month calendar will always be unscheduled, which provides ultimate flexibility and “open space” on the calendar to schedule a stay.

What is a last minute stay?

Last-minute stays exist for owners looking to make a last-minute trip to their vacation home and can be scheduled any time from 2 to 7 days before arrival. Last-minute stays don’t count against your Scheduled Stays, but last-minute stays do count against your 44+ nights.

What is a holiday?

Each share gets one holiday per year. There are 9 U.S. federal holidays considered “Holidays”: New Year’s Day, MLK Day, President’s Day, Memorial Day, 4th of July, Labor Day, Veterans Day, Thanksgiving Day, and Christmas Day. Any stay over a Holiday must be a minimum of three nights. Holidays may also include special dates, such as local events.

How long can an owner stay?

Owners can stay from 2 to 14 nights each visit. If you have ownership in more than one share, you have more Scheduled Stays and can stay a longer duration.

Can Everywhere® increase operating costs?

All operating costs are passed directly to the owner group, and a reporting of monthly operating costs are available to owners upon request. Operating costs are subject to some variability, just like any home ownership expense, which could increase (or decrease) your monthly operating expenses. For example, if property taxes increase, monthly operating costs would also increase. Importantly, Everywhere® does not mark up the costs when they are passed along to the owner group. In other words, owners pay the actual operating cost, no markup.

What kind of LLC is created for the home?

Each home is owned in a property-specific, manager-managed limited liability company (LLC). The LLC is organized under the laws of the state in which the home is located. The LLC has its own bank account and tax identification number. The LLC holds title to the residence, and the owners hold all the ownership interests in the LLC.

Is LLC ownership the same as tenants in common (TIC)?

No. Tenancy in common is an arrangement where two or more people share ownership rights in a property. This means each owner is recorded on the deed, creating unnecessary complexity and cost when one owner tries to sell their share under a TIC arrangement.

Owners in the home purchase membership interests in a property-specific LLC, and the property is deeded to the LLC. The LLC structure makes buying and selling ownership interests in the property fast, simple, and relatively inexpensive (much less expensive than, for example, selling a full ownership vacation home).

The LLC structure is widely used for commercial and residential real estate.

How is the deed recorded?

The deed for each property is recorded in the name of a property-specific LLC. Each owner holds their ownership interest through the LLC, which provides for both privacy and liability protection.

Can I sell at any time?

Yes, after 12 months of ownership, owners can sell their ownership interest at any time. We will give you 60 days to sell through us and our network of buyers at a 2.9% commission, or after the 60 day period is up and we haven’t found you a buyer you can work with any real estate agent of your choosing.

Can owners borrow against their ownership interest?

No, this is prohibited under the terms of the LLC Operating Agreement.

What if something breaks in the home?

If a life-limited item, such as an appliance, breaks, the reserve funds cover the expense of repair or replacement. If an owner or a guest damages something in the home, the owner will be billed for replacing or repairing the damaged item. Homes are inspected after each use, ensuring a quality experience for all owners.

What is the “reserve fund”?

The reserve fund is part of the owner operating expenses. Reserve funds are set aside for the repair or replacement of life-limited appliances, equipment, and fixtures of the home. Owners can also vote to use the reserve funds to add or upgrade items around the home (e.g., adding a pool table or upgrading a theater room).

How am I protected as an owner?

Owners enjoy the privacy and liability protection offered by the LLC. Additionally, the LLC indemnifies owners acting on behalf of the LLC in good faith and in accordance with the LLC Operating Agreement. Each home will also have a homeowners liability insurance policy up to $2 million.

How does voting work?

Every share in the LLC holds one vote. Owners can bring any major decision to the other owners for a vote. For example, if an owner wants to add a sauna to the pool area, the owner can call for a vote. The Home Concierge will coordinate the communication and logistics of the voting.

Will I meet the other owners?

Not necessarily, but many owners do wish to meet their co-owners. We find that friendships and shared interests are common among owner groups. However, we make the process so simple that owners can also show up for their reserved time, enjoy their new home in privacy, and leave the cleanup to us — without ever needing to know the other owners. At a minimum, each year owners are invited to an annual meeting that is held by phone or zoom and organized by the Home Concierge.

What is the “annual meeting”?

Each year we will hold an annual meeting for the owners of each home to attend by phone or zoom. At the annual meeting, your Home Concierge will provide a report on the home, including financials, a description of any proposed resolutions to be voted on by the owners, and a description of any proposals to change the policies and procedures of the home. We find that one meeting per year is generally enough to take care of important matters related to the home.

What about taxes?

We coordinate the payment of property taxes and provide a Schedule K-1 to each owner for U.S. federal income tax purposes. Funds for property taxes are included in the owner operating expenses. We do not provide tax advice and suggest you consult with a professional for more information.

Can changes be made to the LLC Operating Agreement?

Material changes require the vote of the owner group. Non-material changes, like change of address for reporting purposes, can be updated by the Home Concierge on behalf of the owner group.

Where are property-specific funds held?

All funds related to the residence are held in a property-specific bank account, in the name of the LLC.