In this section, you’ll find the answers to the questions we usually get, the frequently asked questions.




21-5 general questions

This section answers the more general questions.

Where does the idea come from?

The idea came to life based on many years of professional experience with selling vacation properties and all the concerns associated with it; How do we buy? Will we make a bad deal? Can we get what we want? Will it be more costly than anticipated? Do we have to rent it out, and if so, what about the risk and hassle? What if a water pipe bursts and we are not there? Can we sell it if we have to? Do we really want to come back to the same place every time? The 21-5 concept alleviates all these concerns. Over the last 12 years 21-5 has built a concept and a team that has brought this idea to life for more for more than 600 happy families. From our headoffice in Copenhagen, Denmark, the focus was initially European vacation destinations, but since then we have expanded our reach to offer North American vacation homes to Canadian and American families from our offices in Vancouver, Canada and Boston, US.

Who started 21-5?

Laila and Anders Koej got the idea back in 2008 and started to built the concept and organization. The first owner association was established in 2012. Today more than 600 owners/families have joined 21-5. From our head office in Copenhagen, Denmark, the focus was initially European vacation destinations, but now we are expanding our reach to offer North American vacation homes to Canadian and American families from our offices in Vancouver, Canada, and Boston, US.

Who is 21-5 aimed at?

An ownership share in a 21-5 owner association is for you, if you want to own, not one, but five beautiful vacation homes in the best possible locations in the US and Canada and don't want the hassle of maintaining and managing the properties.

Is the 21-5 team experienced in purchasing vacation homes?

Of our more than 50 employees, we have a handful of extremely experienced team members who have bought, renovated and sold properties for many years. Further more, several of us have previously been realtors with leading positions in both Europe and North America.


The homes are pre-defined in terms of location and number of bedrooms. We only pick the best locations that are the perfect setting for both relaxing under the sun and activities such as tennis, golf or skiing. The homes are furnished and decorated to be full of warmth and character. You will immediately feel at home when you arrive and enjoy high-quality furniture and materials, modern living standards, authentic local character and open/bright spaces. Contemporary homes with warmth.

As an owner, do I have any influence in terms of what vacation properties are purchased?


Does 21-5 own any shares in the vacation homes?

No, all the vacation homes are solely owned by the 21 owners in the owner association.

What part does 21-5 play when the owner association has been established and the vacation properties have been purchased?

21-5 will manage the vacation properties on behalf of the owner association. This includes the daily administration, finance, maintenance, booking and owner association communications and annual general meeting. The owner association has an administration agreement with 21-5 during the first three years, after which the association can decide to terminate the agreement with a six month notice. 21-5 does its utmost to ensure that the owner associations wish to extend the agreement beyond the three years. So far, no owner association has decided to terminate the administration agreement.

21-5 ownership share

This section answers questions about the ownership share in a 21-5 owner association.

What is a 21-5 ownership share?

A 21-5 ownership share is a 1/21 share of five vacation homes which you can use for up to 17 weeks per year. You own a 1/21 share in the five vacation homes, i.e. you will be on the title/deed together with the other 20 owners.


You will own 1/21 of each of the five vacation homes in the specific owner association. In other words, you will be on the title/deed for each of the five homes, i.e. you own a 1/21 share of the partnership owning the properties. You will benefit from any market value appreciation if/when you sell your share. In a timeshare you typically don't own any real estate, but has the right of use at a specific property at at specific time. Further more the 21-5 vacation homes are individual homes, often detached homes, with top-notch location, exposure, furniture, etc. Timeshare properties are often part of a resort/hotel marketing and sales concept.

How do we obtain of a 21-5 ownership share?

All the contractual paperwork is handled by our Vancouver, Canada, office. You don't have to visit lawyers or notary public offices in the various vacation home locations. 21-5 takes care of everything re. the search, purchase, renovation, furnishing, maintenance and administration of the homes.


Every owner association is designed and priced individually. For more information, please go to the section Owner Association Currently Available on this website.


Every 21-5 owner association has 21 ownership shares, and therefore can have up to 21 families/owners. One family can potentially own more ownership shares, but no so many that they obtain a majority vote.

How much contact do we have with the other owners/families?

All owners meet once a year at the annual general meeting (AGM). If you can't make it, you can hand over a power of attorney. The AGM is the only reoccurring event. Besides this, you decide how much contact you wish to have with your co-owners.

Do we have a vote at a general meeting?


How often is the general meeting held?

Once every year. Besides this, there might be held special general meetings if recommended by 21-5 and the owner association council representing the 21 owners/families.


For the same reasons should you buy a single vacation home - you should buy when you are ready. Some of our owners/families have joined a 21-5 owner association even though they won't use the vacation homes for a few years - because it made sense to invest now as opposed to later when market prices could be higher.


With a 21-5 ownership share you have ownership and use of five vacation homes, not just one property as in many sharing concepts, e.g. fractional ownership, and maybe even more importantly, with a 21-5 ownership share you don't have to worry about the daily management of the five vacation homes. 21-5 takes care of all the work associated with the purchase, renovation, maintenance and administration of the homes.

How long does it take until the vacation homes are handed over and ready to use?

It usually takes 12-18 months from the owner association is fully assembled with its 21 families, until all 5 vacation homes are ready to be enjoyed by their owners. We want to make sure every home lives up to our high standards re. location, exposure, views, layout, quality, etc. We look at a lot of potential homes before the right ones are found and bought. The vacation homes are handed over as soon as renovation, furnishing and interior design is completed. They are handed over to their 21 owners as they become ready.

What is the difference between the owner associations?

The quality of the homes, i.e. location, exposure, renovations , furniture, etc. is identical no matter what type of owner association. The main difference is the size of the homes, specifically the number of bedrooms.

What if we don't like the thought of sharing, is 21-5 something for us?

Do you recognize the feeling of being interested in a vacation home - but having difficulties deciding which county and/or area you prefer? With 21-5 you have a unique opportunity to acquire a vacation home in many locations at once, and thereby trying out these destinations, before you might decide to sell your 21-5 ownership share and buy your own vacation home. Or maybe you realize that it's far more gratifying having many different vacation destinations available, as opposed to going to the same vacation spot every time. A notable advantage with a 21-5 ownership share is that you have co-ownership, and access to vacation homes, which monetary value is significantly higher than your ownership investment. Roughly a factor four. Also, you won't have to deal with the hassle of property maintenance and management that usually comes with vacation home ownership. Should you decide to sell your 21-5 ownership share, we rest assured that you'll have had a very positive experience and gained valuable knowledge that will make buying your own vacation home a lot easier.



How did you calculate the monthly operational costs?

As a combination of our experience administrating the existing 21-5 owner associations, and local market knowledge from the locations included in the owner associations being offered.

Why have the vacations homes not already been purchased?

Primarily because this would add significant transactions costs to the 21-5 ownership shares, as we would have to first purchase the properties and then sell them to the 21-5 owner association. Costs that would be handed over to our 21-5 families/owners. We purchase the vacation homes when the 21-5 families/owners for the specific owner association have been assembled. Not only does this save significant transaction costs, it also gives the families/owners the opportunity to share their preferences for each of their 5 vacation homes to be purchased.

Can we bring our dog or cat?

No, pets are not allowed in any of the homes.

Is smoking allowed in the homes?

No, all the homes are smoke free zones.

How often is the furniture replaced?

On an on-going basis, as needed.

How are the homes insured?

All the vacation homes are insured as needed, both building and content insurance. The cost is included in the monthly operational costs.


No, additional booking points are not available for purchase. If you have used all of your points, you are welcome to contact some of your co-owners and see if you can acquire some of their unused points.



What is covered by the monthly operational costs?

The operational costs cover all the ongoing costs for the vacation homes and their administration, for instance property taxes, insurance, repairs and inventory replacement, any strata/HOA fees and administration incl. owner association communications, support and meetings . Your only expense, besides the monthly operation cost, will be cleaning and utilities (electricity, water and heat) for those weeks you stay at one of your vacation homes. 5% GST may apply to stays in the BC properties - estimated to be around $100 per week. Down the road, should there be any major repairs (e.g. new roof) that are not covered by the owner association's contingency fund, the costs will be shared equally between the owners/families, however we do assist with the financial planning, including long term expenses with the objective to minimize any unforeseen major maintenance costs.


The vacation homes themselves are purchased in cash, with no financial liability/liens for the owner association. For more information, please go to the Financial Requirements section on this website.

21-5 the technical, practical and legal details

This section covers questions re. the technical, practical and legal details in relation to a 21-5 ownership share.

How does the booking system work?

Your 21-5 ownership share gives you up to 17 weeks of vacation in your five homes. You will receive a password for your owner association's member site, where you will find the booking system. Here you'll see how many point you have (you receive 770 point every year), which weeks in which vacation homes are available, how any point any given week will cost, and you can book the weeks you want. You will be guided through the system, which is user-friendly and easy to navigate. The booking system is very flexible and gives you the option to book several continuous weeks in one, or more, of your five vacation homes. The booking schedule is always open two years ahead. There are certain booking rules to make the system fair for all owners/families. For instance, you can't book the same weeks in one vacation home every year, unless other owners/families have had the opportunity to book those specific weeks first.

Will there be tax on the sale of af 21-5 ownership share?

Just as if/when you sell any asset you've owned, federal and local taxes will apply when you realize a capital gain. Should you face a capital loss, it can be included as a deductible on your income tax statement. We advise all our 21-5 owners to seek their own professional advise re. these matters, as they pertain to their personal financial situation.


We always recommend to have a professional expert help you go through the financial and contractual framework with your specific best interest in mind. You should find comfort in knowing that more than 600 families have already gone through the material and given it thumbs up, after consulting with their lawyers and accountants.


When you have decided to buy a 21-5 ownership share, you sign up for a 21-5 owner association. You will receive a confirmation that a spot has been reserved for you in your requested owner association. We will meet in person, as we at 21-5, on behalf of the given owner association, have to ensure the right fit for our owner associations. Assuming all is good, you will receive the contractual framework to read and sign. This is the entry ticket to the inaugural meeting of the given owner association where the owners/families get to meet each other for the first time. Here you will also sign the owner association charter which is how you legally commit to your 21-5 ownership share and your owner association. After the inaugural meeting you will be asked to transfer the funds to your specific owner association's bank account and the 21-5 team will begin the search for your vacation homes. Note that you don't commit and transfer any funds until you've met your co-owner families.

How is our ownership share priced, should we decide to sell it one day?

You decide the price - just as you would decide on the listing price if you were to sell your own home. End of the day, it is the supply and demand that sets the final sales price. 21-5 will be more than happy to give a price assessment and also to help sell your ownership share. So far, the demand has been far bigger than the supply of 21-5 ownership share re-sales.

How do we sell?

You can either find a buyer yourself or have us help you - or both. If you find a buyer on your own, your sales cost will be the transaction costs plus a administration fee to 21-5. If 21-5 takes care of the sale, you will pay an additional sales commission to 21-5.

Will we be on the title/deed of the properties?

Yes. All the owners/families will be included on the title/deed of each of the five properties with equal ownership shares. In some cases it makes sense to establish a separate legal entity, owned by the families, to be on the title/deed.


No. You can only sell your 21-5 ownership share as one. In other words, you can sell your 1/21 share in all of the five vacation homes and the right to use these homes accordingly.


The funds deposited will go solely to the purchase, renovation, furnishing/interior design and fee to 21-5 - nothing else.

Can we risk to pay more in deposit that expected?



Yes, your 21-5 ownership share gives you the ability to book up to 17 weeks per year in your vacation homes. You are more than welcome to have your close family and friends use some of those weeks. You are not allowed to rent out your vacation homes and thereby obtain rental income. The homes are only for the 21 owners/families and their close family and friends.



Can the owner association sell one of their properties?

The owner association can decide to divest one of their properties. In case one of the five properties is not used very much, it makes sense to replace it with a property at a different location. The owner association can also decide to transfer the sales proceeds to its 21 owners and then only have four vacation homes in their owner association. It requires a majority vote at a general meeting to make any significant decisions, including to terminate the association and sell all its properties.

What about the ongoing maintenance?

A budget is done every year, including planned maintenance. Any unexpected maintenance will be done when needed. The condition of the vacation homes are monitored by 21-5 and the owner association council representing the 21 owners/families.

What happens if one of the 21 owners doesn't pay the monthly operational costs?

In case one of the owners/families does not pay their monthly fees, the other owners in the association can exclude the non-paying owner. This triggers a forced sale of that owner's ownership share. The other 20 owners/families will never be negatively impacted by such a situation, since the ownership association holds a 12 months maintenance fee buffer from all owners in the association's bank account. It is only the non-paying owner/family who can suffer any financial loss in this situation. The system is built to protect the owner association.

What if we change our mind after having signed the contracts?

You can change your mind all the way up until the inaugural meeting, where you get to meet the other owners/families in your owner association. At the inaugural meeting you confirm your participation, sign the founding charter, and become a member of the owner association. If you don't sign the founding charter, you walk away without any legal or financial commitments. We do not want families in our owner associations who are not 100% committed.


The investment in an ownership share has no further costs than the investment itself and a cash deposit of 12 months operational costs for the five vacation homes.

How certain can we be that the operational costs won't increase?



No, because the homes will be found and purchased when an owner association has been inaugurated. The sales material and contracts will give a detailed description of the vacation homes to be purchased, e.g. location, type, exposure, size, look and feel, etc.

Can we keep any personal items in the vacation homes?

Within reason. For instance, you can keep your skis and boots at the Whistler home. But having said that, it is obviously limited how much personal stuff you can leave behind.



21-5 the homes

Is there TV in all the vacation homes?

Yes, there is TV in all the homes. Both cable and streaming services are available.

Is there wifi in the vacation homes?

Yes of course. All the homes have wifi.

Were are the locations of the vacation homes?

The sales material, including this website, describes the locations for the five vacation homes.

Are the homes renovated and furnished for special needs users?

When selecting and renovating the homes we take a lot of considerations, but the homes are not specifically tailored towards special needs users.

Who is responsible if something is broken during our stay?

The owner who occupies the vacation home - or the owner who has lent out the home to close family or friends - is responsible if something is broken. Items and incidents included in the home insurance plan, are obviously covered though this, and if something breaks down or deteriorates because of natural wear and tear, it will be covered by the owner association.

What about keys for the homes?

Every 21-5 family receives their own key to all five vacation homes. There are extra keys in the homes.

Are their any liens, loans or mortgages in the homes?

No, all the 21-5 vacation homes are purchased in cash and therefor carry no loans of any kind.

21-5 daily use and management

What are our obligations as member of an owner association?

A key feature of having a 21-5 ownership share is that it's easy and uncomplicated. All you have to do is plan your vacation and that's about it. You are encouraged to participate at the annual general meeting - or give a power of attorney to a co-owner to vote on your behalf. You are obviously obligated to pay your monthly operational costs, but besides that, your obligations are few, except to treat the homes like your own. Because they are :-)

How often are the homes cleaned?

The homes are professionally cleaned after every stay. You can book additional cleaning, should such a need occour.

How do we contact our co-owners in the owner association?

Every owner association has its own member site where you can find photos and contact details for all 21 families.

What about bed linen and towels?

When you arrive to your vacation home, there will be clean bed linen and towels on the beds.

Are the beds of good quality?

Yes, we only furnish with high quality mattresses, duvets and pillows.




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