Glossary

Everything you need to know about shared second home

Terms, definitions and explanations for anyone who shares a cabin, holiday home, or vacation property.

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A shared digital calendar where everyone sharing the property can see availability and book stays.

An ownership arrangement where two or more people own a second home together and share use, costs, and responsibilities.

A written agreement between co-owners that governs usage, finances, maintenance, and potential sale of the shared property.

A system for distributing usage time among co-owners, typically through lottery or priority-based systems.

Dividing shared expenses among co-owners — equally, by usage, or with custom shares.

A secure page where guests can view practical property information — WiFi, house rules, local guide — without logging in.

Shared rules for using the property — from noise and cleaning to guests and pets.

A second home inherited by siblings or family members, used and managed collectively.

An overview of all equipment, furniture, and items at the property.

A random draw to fairly distribute popular weeks among co-owners of a shared property.

An overview of restaurants, activities, shops, and attractions near the property.

A record of all maintenance performed on the property — with dates, descriptions, and photos.

Technical documentation for a property — manuals, warranties, drawings, and maintenance instructions.

A shared list of tasks to be done at the property — with assigned person, deadline, and status.

The system for how usage of a shared second home is distributed among co-owners — through lottery, rotation, or free booking.