Summer vacations often follow a pattern. First sun, relaxation and sea. Then, at the latest when you leave, the desire to preserve this feeling arises – or at least to feel it more often. A market has been emerging for some time now that turns the desire into a business: buying a holiday property, even if you can’t afford it at first glance.
Holidaymakers encountered this offer this summer, among other things, at a receptive moment: on the return flight. In the in-flight magazines of several airlines there were advertisements from companies that have made co-ownership their business. On Eurowings flights, for example, travelers could read about the Danish “21-5” – but also about the German start-up “MYNE Homes”.
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The company has set itself the task of “fulfilling” more and more people their dream of owning their own holiday property. The founders rely on a model that is already widespread in the USA: the so-called “managed co-ownership”. This means: Several buyers acquire shares in a property, can use them proportionately and hand over all organizational processes such as maintenance, leasing and billing to a professional administration.
“MYNE Homes” advertises with keywords such as “all-round worry-free service”, “dream holiday properties” and “flexible use all year round”. On the start-up’s website, 24 customers can hardly stop raving about it. The service in particular is repeatedly highlighted in the reviews, which are published without a real name or photo. For example, Julian S., who wants to have acquired a share in a property on Mallorca, writes about a “worry-free vacation thanks to MYNE service”.
What’s behind “MYNE’s” business model
However, WELT research has shown that not every customer is as satisfied with the start-up’s service. Discussions with owners raise questions about promises and cost transparency. So how does the “MYNE” business model really work?
To get closer to the question, it’s worth taking a closer look at the company. “MYNE” was founded in 2021 by Nikolaus Thomale and Fabian Löhmer. Thomale is a lawyer, Löhmer is a business economist. Even before “MYNE” was founded, the men each gained start-up experience.