Prello is a real estate brokerage that facilitates managed co-ownership of second homes, allowing individuals to purchase shares in fully renovated properties and share associated costs. The platform streamlines the acquisition, renovation, and rental management processes, enabling users to enjoy their investment while minimizing the burden of property maintenance.
Funding
$25.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals are priced out of the second home market or are deterred by the complexities of sole ownership, including high costs, maintenance burdens, and limited usage. Traditional second home ownership models lack flexibility and can be financially impractical for many potential buyers.
Solution
Prello offers a managed co-ownership solution for second homes, enabling multiple individuals to purchase shares in desirable properties and share the associated expenses. The platform streamlines the entire process, from property acquisition and renovation to ongoing rental management, allowing owners to enjoy the benefits of a second home without the typical hassles. Prello handles property maintenance, rental logistics, and administrative tasks, while co-owners can schedule their usage and benefit from potential rental income. This model makes second home ownership more accessible, affordable, and convenient.
Target Audience
Prello targets individuals and families seeking to own a second home but are looking for a more affordable, flexible, and hassle-free ownership model.
Features
- Co-ownership structure allowing up to eight individuals to own shares in a single property
- Property sourcing, evaluation, and negotiation services to identify suitable second homes
- Complete renovation and furnishing services to prepare the property for co-ownership
- Rental management services, including listing optimization, tenant screening, and concierge services
- User-friendly mobile app for scheduling stays, communicating with property managers, and tracking expenses
- Legal and financial structuring to ensure a smooth and transparent co-ownership arrangement