Frequently Asked Questions

Common questions about fractional ownership
  1. What are the annual maintenance arrangements and costs?
    To ensure that Appassionata properties are always luxuriously maintained an annual service charge is payable by each owner. This charge is calculated on the total running costs of the property and is divided between owners equally. This is one of the great benefits of fractional ownership and reduces the liability you have for the running costs of the estate. It also allows you to arrive at your holiday home, ready to start your holiday; without the normal anxiety you may feel if you owned the property outright and were wondering what your first job may be! These annual dues cover various costs, including:

    • Housekeeping (handover cleaning, linen and towel changes)
    • Essential provisions
    • Maintenance (depends on the property – specifically agreed)
    • Company legal/accounting
    • Building and contents insurance
    • Capital reserves (sinking fund for replacements and future decoration)
    • Utilities
    • Property taxes
    • Management charge

    All expenses are charged on an actual cost basis and are available for review by owners. Any differences with expenditure will be either charged or refunded after the accounts are finalised each year. The annual service charge per fractional share is estimated to be €3500 for 5 weeks ownership of Il Riposo.

    Professional management is provided by Appassionata whose Italian studio is a mere 15 minutes away.

  2. Is the property offered a deeded property?
    Yes, the property deeds are owned by the UK based company. The members own the company, the company owns the property.
  3. Are the weeks offered fixed or variable?
    The weeks are reserved each year on a rotating priority basis, to ensure each owner always receives 2 weeks in the peak season and 3 weeks in the off peak season.
  4. Is the building completed yet?
    Il Riposo was completed in the summer of 2016. Book a discovery trip and see for yourself. If we have any resale opportunities they will be listed on the property section of our website. If you would like to receive details of new opportunities via email, please express your interest by contacting India Hobbs-Mauger at: ifh@appassionata.com.
  5. How much does it cost?
    The price of the next share in Il Riposo is £95,000. Casa Tre Archi, Casa Leopardi and Casa Giacomo have now sold out. Please check the property section of our website for resale opportunities.
  6. Exactly what does ownership include?
    A 1/10th fractional share (5 weeks exclusive residency each year) of the Appassionata property purchased.
  7. What fees do you charge?
    There are no application fees. Appassionata charges an annual maintenance fee for the running of the property, which is equally split between all of the property owners.
  8. How long has the company been operational?
    Appassionata Ltd. has been operational since 2007.
  9. Can I visit the property before buying a share?
    Yes, we would strongly recommend a discovery trip as soon as possible. For those who are truly interested in knowing more we are offering a wonderful opportunity to visit Le Marche.
  10. If I decide to purchase a fractional share in a property, can I change my mind: if so, by when?
    Yes, of course. There is a 14-day ‘cooling off’ period after we have received your completed application form, just in case you should change your mind.
  11. What is the process if I wish to sell my fraction in the property at any time in the future?
    You are free to sell your fractions at any time, at a price that you agree with the purchasing party. Re-sale of a share in an Appassionata property must first be offered to existing owners, through Appassionata, before offering to a third party. Appassionata will assist owners in the sale of their membership if they desire. We have successfully sold a number of re-sale shares.
  12. How does one book for popular holiday periods e.g. school holidays, and what booking system is in place e.g. first come first served and is there any priority amongst owners?
    You will get an opportunity, on a rotating priority basis, to book these periods and you can always exchange weeks with other owners, which happens regularly. Furthermore, your weeks can be used by friends and family or rented to a third party.
  13. Are there any fees in addition to the fractional property purchase?
    No
  14. Does the company have plans to raise prices – if so, when and by what rate and what factors would influence such price increases in the future?
    Appassionata has positioned its initial fractional purchase costs at a very competitive price. It is intended that these prices will increase over time to reflect the true value of the development.
  15. Are there any ownership rules – e.g. are pets and is smoking allowed?
    House rules will be made available as part of the application process, two important rules are that pets cannot be accommodated and smoking is not allowed inside any of the properties.
  16. What other amenities can I expect at the property?
    A wonderful 110m2 private walled garden with a swimming pool. Easy walking to local shops and bar, with a short drive to both beaches and mountains. The website has further details in the property section.
  17. Who owns the properties at present and what happens if the property company fails?
    The property is owned by a non-trading, UK registered, limited liability company which has been established to operate the estate on behalf of all its members. There is no external funding for this project; the cost of the development and purchasing the land has been funded by Appassionata Ltd through an intercompany loan and can only be repaid as fractions are sold.
  18. What do you believe are the strengths and weaknesses of the company and properties available and why should I ultimately buy this one in comparison to the choices available?
    Appassionata is set in the wonderful region of Le Marche, which boasts a tremendous combination of history, culture and leisure activities. This is real Italy, where many Italians take their annual holidays. Il Riposo is beautifully positioned, with amazing views and situated in the heart of an historic hamlet. The quality of the construction, interior furnishings and facilities reflect a truly luxurious proposition. Appassionata companies have not only developed the property but also provide the property management.

    Appassionata is a small boutique business, providing on-going management; we are not a large faceless commercial
    organisation. Our pricing structure reflects tremendous value that is hard to find in an equivalent development.

    Please come and see for yourself