FAQ

Have any questions about &Hamlet or co-ownership?
We have answers.

DO YOU ACTUALLY OWN THE PROPERTY?

Yes. You and the other co-owners will collectively own 100% of the vacation home. The value of your share will increase in line with the property value.

IS CO-OWNING A HOLIDAY HOME A NEW CONCEPT?

Co-ownership of properties has a rich historical tradition and is currently on the rise. In Norway, it is quite common for individuals to own a vacation home together with family or friends, which allows for a more efficient and effective use of each property.

&Hamlet simplifies the entire process of purchasing, owning, and managing a co-owned property by identifying suitable properties, finding all co-owners, handling maintenance, coordination, and other services for all co-owners.

On average, a vacation home remains unused for over 300 days each year. However, when ownership is shared among multiple individuals through &Hamlet, the property sees much higher utilization. This not only benefits the environment by preserving nature but also adds value to the local community, while also sharing the costs associated with your dream home among several co-owners.

WHAT DIFFERENTIATE OWNING A &HAMLET VERSUS THE ENTIRE HOME?

As an owner of an &Hamlet, you share the purchase cost, common expenses, and property usage with the other co-owners, while &Hamlet takes care of all maintenance and cleaning. Each &Hamlet boasts a unique, modern, and exclusive design, fully furnished with all amenities.

Owning 1/8 share in a &Hamlet guarantees you a minimum of 45 days of property usage per year, which is approximately the same as the average vacation home.

WHO TAKES CARE OF THE PROPERTY?

&Hamlet manages the vacation home by handling payments, maintenance, coordination, and other services on behalf of the owners.

Each home will have a dedicated Home Manager with whom the owners can communicate for questions or requests. If all owners of a &Hamlet wish to manage the property themselves, they are free to do so through a collective vote.

HOW SOON WILL I BE ABLE TO ENJOY MY NEW HOLIDAY HOME?

The availability of the property after purchase will vary from property to property. In some cases, you can book your stays the day after signing the contract and payment. Other homes are in the planning or construction phase, and you can enjoy updates during  building process. The purchase will not be completed until all 8 shares are sold, which may extend the waiting time.

&Hamlet is not a real estate broker, hence we always collaborates with real estate brokers for the actual sales transaction.

&Hamlet has no ownership stake in the properties but provides stylish interior design, full furnishing, with all the equipment needed in a warm and luxurious holiday home.

IS THIS THE SAME AS TIMESHARE?

No, with timeshare, you never actually own the property; instead, you purchase a usage right for a specific period, typically a fixed week in a hotel complex. However, as a co-owner of a share in a &Hamlet, you have the opportunity to benefit from potential price appreciation due to a higher market value of the property. You enjoy continuous access throughout the year, have storage space for personal belongings, and the vacation home is exclusively available to co-owners and their guests.

WHY AM I PAYING MONTHLY COSTS FOR MY HOLIDAY HOME?

Owning any property incurs costs while you own it. Few people realize how much they actually spend on electricity, insurance, maintenance, TV, snow removal, municipal fees, and everything else. For a holiday home, all of these costs must also be paid when it is not in use.

By owning a &Hamlet, the costs are shared among several owners, making it cheaper to own a holiday home. In fact, you pay less in ownership expences through &Hamlet than if you own an entire vacation home at the same price as the share. This applies even when &Hamlet's additional services are added.

HOW MUCH WILL THE MONTHLY COSTS BE?

The monthly expenses will be specific to each &Hamlet and will vary based on the size and location of the property. These costs will be directly transferred to the co-owners without any additional markup by &Hamlet.

 

To offer you maximum predictability, the monthly invoice will be based on an annual budget and will remain constant each month. At the end of the year, the actual expenses will be reconciled, and any surplus will be refunded to you, while any shortfall will require an additional payment.

 

Upon purchase, a deposit equivalent to 6 months' worth of expenses will be paid.

WHAT WILL HAPPEN IF A CO-OWNER MISS THEIR MONTHLY PAYMENTS?

As an owner of an &Hamlet, you will not be impacted if other co-owners fail to meet their payment obligations. In such circumstances, &Hamlet will intervene, cover the payments, and address the matter with the individual owner. If the problem persists, the owner may lose access to their &Hamlet. Ultimately, if necessary, we will step in and sell the share to a new owner.

DO I NEED TO SPEND TIME ON MAINTAINING THE HOME?

&Hamlet takes care of all the management and maintenance of the home, and we thoroughly clean and inspect the home between each stay. Each &Hamlet have a dedicated Home Manager, and we use local contractors for the various tasks.

The advantage of owning a &Hamlet is that you do not have to spend time or energy on management and maintenance. You do not have to worry about mowing the lawn, shoveling snow, cleaning when you leave, or other time consuming tasks that are normally associated with owning a holiday home.

Simply sit back, relax and enjoy your &Hamlet.

CAN I STORE PERSONAL BELONGINGS?

Yes. Each owner has their own lockable cabinet or small storage room for personal belongings. Personal belongings can not be stored in the rest of the home.

The storage space for personal items is naturally limited. Do you have four mountain bikes that you would like to keep at the cabin? Then just contact &Hamlet, and we will arrange secure external storage, and make sure the tires are pumped and the chain is oiled when you arrive.

WHAT IS CONSIDERED REGULAR MAINTENANCE THAT FALL UNDER &HAMLET'S ONGOING OPERATIONS AND CAN BE RESOLVED WITHOUT REQUIRING A VOTE?

Regular maintenance involves normal wear and tear, repair or replacement of items with limited lifetimes such as appliances and electronics.

For other major maintenance and repair issues, a majority vote in the condominium association is required. This may, for example, include if the roof needs to be replaced in the future. Such upgrades can be covered by using the repair fund as well.

WHO IS REPONSIBLE IF SOMETHING IS BROKEN OR HAPPENS TO THE HOLIDAY HOME?

As part of the management of the holiday home, &Hamlet assures that the building and interiors are at all times insured in a well recognized insurance company. The insurance payments are already included as part of the monthly homes expences and distributed according to ownershare.

The holiday home is thoroughly cleaned and inspected between stays. Any direct damage related to the holiday home and interiors, or if items are damaged/broken or lost, the responsible co-owner who booked the holiday home in the period when the damage happened is invoiced accordingly. If the insurance covers the damage, the the co-owner is credited accordingly.

WILL I GET TO USE THE &HAMLET WHEN I WANT TO?

We are confident that the variation in desires and usage patterns among co-owners allows you to use the vacation home whenever you want. Winter and autumn holidays differ depending on whether you live on the east or west coast of Norway. Retirees often have great flexibility, and the possibility of remote work has become common. Nevertheless, &Hamlet's own booking system will ensure a fair distribution of holidays and popular festivities.

HOW MANY DAYS AM I ABLE TO USE MY &HAMLET?

If you own 1/8 in a &Hamlet, you are guaranteed a minimum of 45 days of exclusive use of your property per year. This is approximately the same number of days that an average vacation home is used per year. The more shares you own, the more days you can use your &Hamlet.

If you make a reservation for a stay between 2 and 30 days in advance, the stay will not count towards the allocated 45 days per year per ownership. This means that you may be able to use your &Hamlet for more than 45 days per year.

HOW DO I SCHEDULE MY STAYS?

Stays are scheduled through &Hamlet's own app, where you can view your reservations, make changes, or add new ones. Our customized system ensures a fair distribution of stays among the owners, guaranteeing that everyone can use the property during the peak season and at least one popular holiday period per year.

HOW DOES THE SCHEDULING SYSTEM WORK?

The reservation system allows you to book a stay up to two years in advance or as close as 48 hours before arrival. To ensure a fair distribution among the co-owners, it is possible to hold up to six reservations simultaneously at any given time. Each stay must last a minimum of two nights and can usually last a maximum of two weeks. There must be an equivalent number of days between two reservations and the first stay; for example, if you reserve a one-week stay, you must wait for one week before using your &Hamlet again. This is to ensure a fair distribution of access to &Hamlet for the owners throughout the year.

In the reservation system, we have defined a series of special dates based on Norwegian holidays, as well as a peak season determined by the property's location. To ensure a fair distribution of the most popular days, you can keep one reservation during a popular holiday or vacation period and three reservations during the peak season. There is also a limit on the number of stays allowed during holidays and peak seasons. The reservation system learns from the owners' usage patterns, adjusting the definition of the peak season for each unique &Hamlet, making the distribution even more equitable.

The maximum length of one stay depends on how many shares you own: 1 share = 2 weeks, 2 shares = 3 weeks, 3 shares = 4 weeks, 4 shares = 5 weeks.

HOW CAN I BE SURE OF USING AT MY &HAMLET IN THE MOUNTAINS DURING WINTERTIME?

In the reservation system, we have defined a series of special dates based on Norwegian holidays, as well as a peak season determined by the property's location. To ensure a fair distribution of the most popular days, you can keep one reservation during a popular holiday or vacation period and three reservations during the peak season. There is also a limit on the number of stays allowed during holidays and peak seasons. The reservation system learns from the owners' usage patterns, adjusting the definition of the peak season for each unique &Hamlet, making the distribution even more equitable.

HOW DO I CANCEL A RESERVATION?

You have the option to cancel a reservation without it affecting your allocation of 45 days per year per share, as long as you cancel at least 30 days before the first date of the stay. However, if you cancel the reservation after this period, it will count towards your available days, unless other co-owners book a stay on those original dates. In case of cancellation, the other owners will be notified, giving them the opportunity to make a reservation.

HOW DO I SELL MY &HAMLET?

Every co-owner can sell their owner share(s) whenever they want. You set the price yourself and can use your preferred real estate agent or &Hamlet's marketplace to attract potential buyers - just like selling an entire property.

HOW CAN I ENSURE THAT THE SHARE IS SOLD EFFICIENTLY?

Both you, the real estate agent and &Hamlet benefits from selling the shares as quickly as possible at the right price. The most important thing you can do, to ensure a sale, is to set a realistic asking price in the market.

Through &Hamlet's marketplace, you can attract potential buyers, and in some cases, there may already be a interest lists for a &Hamlet home in your area.

WHAT COSTS ARE ASSOCIATED TO THE SALE OF AN OWNERSHARE?

The costs associated with the sale will largely resemble those of a regular property sale. Regardless of whether you use your own real estate agent or sell through &Hamlet´s marketplace , there will be a commission fee.

If you sell through your own agent, there will also be a transfer fee for &Hamlet to update the ownership structure.

I ALREADY OWN A HOLIDAY HOME, CAN I SELL IT AS A &HAMLET?

Yes. If your holiday home meets &Hamlet's criteria, you can either sell the entire property through the &Hamlet marketplace, or keep some ownershare and sell the rest.

Depending on how much usage you want to retain, you can keep between 1/8 to 1/2 ownership, and sell the rest to share the costs with several owners.

The advantage of selling your holiday home through &Hamlet is that you reach a much larger customer base than by only selling the home as a "whole".

WHAT NEEDS TO BE PREPARED IN ORDER TO SELL PART OWNERSHIP OF MY HOLIDAY HOME?

The sale of all or part of a holiday home through &Hamlet is very similar to a regular home sale, and you do not need to prepare much. Contact us directly, or consult your real estate agent for more information about the process.

&Hamlet will first assess whether the property meets our criteria. Our interior and design team will conduct a thorough evaluation of the home, identify and carry out necessary minor upgrades. The cost of this will be added to the purchase price of the shares, and the price for your share(s) will be determined through discussion.


WHO CAN I EXPECT TO BECOME CO-OWNERS?

Co-owners can come from different places, be in various age groups, and have diverse interests. Regardless of who the co-owners may be, you can expect friendly people who are excited to create new memories with their loved ones in their &Hamlet. Buyers of an &Hamlet are all owners with genuine ownership of the property and the local community.

&Hamlet conducts an evaluation of all buyers, who must also sign a co-ownership agreement, articles of association, and house rules.

DOES &HAMLET OFFER FINANCING TO PURCHASE THE OWNERSHARES?

We have partnered with Nordea to offer financing for our customers.

Please contact us through the listing page for the specific &Hamlet you have in mind to apply.

IF ONE OF THE CO-OWNERS MISS THEIR DOWN-PAYMENTS, DO WE RISK A FORCED SALE?

No. It is not allowed to mortgage the entire property. Most owners will use their primary home as security.

It is only allowed to mortgage one's share in the property, but this must be discussed with your specific bank.

I AM A REAL ESTATE AGENT. HOW CAN I COLLABORATE WITH &HAMLET?

We would love to work with you! &Hamlet expands the potential customer base for high-end holiday homes, and selling a property through &Hamlet can therefore minimize the time the property is on the market.

 

We would love to hear from you and discuss further collaboration. Please feel free to contact us via the contact form, phone, or email.

HOW DOES &HAMLET COMPENSATE BROKERS AND REAL ESTATE AGENTS?

We offer an attractive commission structure for properties located in Norway and Spain. For properties located in Norway, you will receive a 3% commission of the purchase price, for each customer you refer to &Hamlet, who ends up buying one or more shares. For properties located in Spain, the commission rate is 5% of the purchase price.

 

Your role is simple – just refer the customers to us, and we will handle all communication, viewings, and contracts (though the seller agent). We’ll keep you informed throughout the entire process.

 

Moreover, when you sell properties through &Hamlet, you get to keep the entire sales commission for yourself.

I WANT TO PROMOTE &HAMLET TO MY BROKERAGE FIRM, HOW DO I PROCEED?

We would be delighted to provide you with more information and have a conversation with you. Please feel free to reach out to us via the contact form, phone, or email, and we will guide you through the next steps.

I AM SELLING A HOLIDAY HOME ON BEHALF OF A CLIENT, HOW DO I PROCEED TO SELL THROUGH &HAMLET?

Selling your holiday home through &Hamlet is straightforward and similar to a regular residential sale. All you need to do is familiarize yourself with what &Hamlet is and how it works. Once we collaborate, you will receive a package of informational and marketing materials to assist you throughout the process.

DOES THE HOLIDAY HOME HAVE TO BE SOLD EXCLUSIVELY THROUGH &HAMLET, OR CAN IT BE ADVERTISED ON MULTIPLE PLATFORMS?

As part of our sales process, the holiday home will be marketed through multiple channels to reach audiences both inside and outside of Norway.

We have an experienced and innovative marketing team and invest a lot in video, visuals, and content production. You can expect to see the property advertised on social media, digital advertising, YouTube, &Hamlet's platform, Finn.no, print advertising, and through our partners.

I HAVE A CLIENT WHO WOULD LIKE TO SELL THEIR PROPERTY THROUGH &HAMLET, HOW DO I PROCEED?

We would love to collaborate with you! Selling your property through &Hamlet is similar to a regular residential sale, and your client will not experience significant differences.

 

Feel free to contact us via the contact form, phone, or email, and we will get back to you with the next steps. You will receive informational materials that both you and your client can benefit from, guiding you through the process smoothly.

WHO IS &HAMLET?

&Hamlet empowers you to buy, own, and enjoy your dream holiday home at a fraction of the cost, while we take care of everything with maintenance and cleaning, and assure fair distribution of use for all owners. &Hamlet brings trust in shared ownership to the holiday home market.

&Hamlet is a Norwegian company that was started after we realized how unsustainable it is to have a huge number of cabins and holiday homes sitting empty for more than 300 days of the year, all while many people dream of owning a holiday home, and more and more nature is built out.

&Hamlet is partially owned and supported by Askeladden & Co, which is behind companies such as DrDropin, Cutters, and Squeeze.

HOW MANY DIFFERENT GUESTS WILL USE THE PROPERTY?

Each property has between 2-8 owners. They can of course invite guests and let family members use their days - just like with regular ownership.

HOW DOES &HAMLET AFFECT THE LOCAL COMMUNITIES?

A &Hamlet is in use much more than a typical holiday home. Cabins in Norway sit empty on average for over 300 days a year and are therefore only used 10-15% of the time, while a &Hamlet is typically used 80-90% of the time. This means that much more money is spent in the local community, thus benefiting the local economy.

&Hamlet organizes the operation and maintenance of all properties, and engages local companies in the work. &Hamlet contributes to more jobs and more income for the local business in the community.

When we use the holiday homes we already have more, emissions and reduction of wild nature is significantly reduced, while more people can fulfill their dream of owning a great holiday home.

CAN THE OWNERS OF A &HAMLET RENT OUT THE PROPERTY?

No. A &Hamlet is only available for use by the owners. They can of course let friends and family borrow their &Hamlet, but it is not allowed to rent it out.

A HOLIDAY HOME IN MY LOCAL AREA IS GOING TO BE SOLD THROUGH &HAMLET. WHAT CAN I EXPECT?

You can expect friendly people who wish to stay in the area where you live, and who are excited to create new memories with their loved ones.

In contrast to typical holiday homes, a &Hamlet will be used more, which will benefit the local community.

Owners of a &Hamlet are owners who return again and again, with a real sense of ownership to the community.

WHO CAN I CONTACT IF I HAVE ANY CONCERNS REGARDING A &HAMLET NEAR ME?

If you have any questions or anything you want to report, please reach out through the contact form.

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