The "haha, this really is timeshare" comments on this and on https://news.ycombinator.com/item?id=28247379 https://news.ycombinator.com/item?id=28247379 are mis

The "haha, this really is timeshare" comments on this and on https://news.ycombinator.com/item?id=28247379 https://news.ycombinator.com/item?id=28247379 are missing the point. Let me tell you why, with an example from a niche I've been involved in for 25 years; the 250-year old inland waterways of the UK. Shared ownership is big business on the UK canals. A new narrowboat costs £100k+, and unless you're living afloat, most people only spend a few weeks on it every year. It makes a lot of sense, then, to share with other like-minded people: you get the same amount of holiday for a fraction of the cost. Traditional timeshare narrowboats exist too. But the model is very different, and much more like the "timeshare" you'd think of with villas/resorts/etc. You pay some sort of upfront cost and some sort of subscription to the timeshare company, in return for which they promise to give you some benefits. But with timeshare, it's all a contractual relationship with the timeshare company; you don't own any part of the boat, and if they go bankrupt, you're screwed. That's not what narrowboat shared ownership is. With shared ownership, you literally do own a 1/12th share of the boat. Once you and your fellow co-owners have bought it, the boat belongs entirely to you. You probably pay some sort of service charge to the company for co-ordinating bookings (arguments over school holidays are common), servicing, and so on. But the boat is yours. And this was proved c. 2008. The two biggest shared ownership companies, OwnerShips and Challenger Syndicateships, both went bust in short order. Both had over-expanded: forays into the French canal market, ambitious luxury boats which went over budget, and just plain avarice on the part of the founders. But in both cases, the boat sharers retained ownership of their boats. Some incidental service fees and associated funds held by the companies were lost, but the asset remained untouched. Those boats are still out there, still in shared ownership, and often with service/arrangement fees being paid to another company - because since you own the boat, you can just up sticks and deal with another company if you like, or none at all. Contrast with timeshare. If a timeshare company goes bust you have no recourse. You don't own the boat/apartment/whatever. You don't own anything. So please, less of the "this is just reinventing timeshare". It's a proven model, it works, and good luck to them. Edit: a couple of examples: https://www.bcbm.co.uk https://www.bcbm.co.uk, http://www.carefreecruising.com http://www.carefreecruising.com.