Frequently asked questions

You purchase a share in a property with an annual usage entitlement. In a three-home community, you own 8% of each of three properties and receive 84 days in total: 28 per property, split into 14 high-season and 14 low-season days. In a single property, including Heimkoma Reykjavík, you own 12% and receive 42 days: 21 in high season and 21 in low season. Heimkoma manages administration and operations. Bookings depend on availability, your remaining days and the booking rules.

This is not timeshare. You own a share in a property and can sell it at any time under the terms of your agreement.

Changes to booking, house and rental rules follow the applicable agreement and are communicated to owners. The annual usage entitlement is 28 days per property in a three-home community, or 42 days in a single property or Reykjavík. Changes to booking procedures do not automatically change these rights.

Heimkoma handles bookings, maintenance, insurance and all operations. Owners do not need to manage operations or maintenance. They must take good care of the property and leave it in a comparable condition to how they found it. Owners may pay for cleaning after their stay or do it themselves.

Bookings depend on availability and your unused, unallocated days for the relevant property and entitlement year. High-season days may be used in low season, but low-season days cannot be used in high season. A three-night minimum applies on weekends and public holidays across all products, including Reykjavík. The maximum continuous high-season stay is two weeks per property in a three-home community, or one week in a single property or Reykjavík. Contact Heimkoma for a demonstration and to confirm access and bookings for your property.

Heimkoma deals with breaches under the house rules and applicable agreement. Draft agreements provide for written warnings and possible buyout for repeated breaches. Penalties and the conditions for applying them depend on the owner's signed agreement.

Contact Heimkoma to explore moving to another community. Availability, price differences, costs and conditions must be agreed; there is no guaranteed automatic right to exchange.

Yes. Heimkoma retains 4% of each property. Two weeks a year are allocated for Heimkoma's own use or rental, one in high season and one in low season. Two further weeks, both in low season, are reserved for maintenance.

Heimkoma cannot provide financing. You could consider reallocating other investments, since this is an investment, borrowing against another property you own, or waiting until you are ready.

Heimkoma does not provide its own loan financing. The payment schedule and purchase price are set out in the offer and agreement. Draft payment agreements envisage payment for properties ready for handover, so it is important to distinguish between delivered and planned properties in a three-home community.

Draft co-ownership agreements prohibit mortgaging the ownership share. Check the applicable agreement before arranging finance; do not assume the share can be used as collateral.

Contact Heimkoma if you experience payment difficulties. Draft agreements provide that arrears equal to three monthly payments may lead to suspension of use, and six payments to a buyout. Rights, notices and procedures depend on the applicable signed agreement.

Yes. You can offer your share on the open market or ask Heimkoma for assistance. A sale is subject to pre-emption rights and other conditions in the applicable agreement. Neither the sale price nor the time to sell is guaranteed.

It depends on whether the property is ready for handover, the buyer's financing and the completion of agreements and payments. We will discuss the expected timeline for the property before you decide to buy. Your first stay also requires a confirmed booking.

You can explore financing with your bank. The bank assesses the loan and security; Heimkoma does not guarantee approval. Draft co-ownership agreements prohibit mortgaging the co-ownership share itself.

Before buying, you receive an overview of the purchase price, fees and operating budget for the property or community. The buyer pays a 0.8% joining fee on initial purchase and resale. Monthly administration for one share consists of a base fee of ISK 5,000 plus ISK 4,000 per property: ISK 9,000 for a single property or Reykjavík, and ISK 17,000 for a three-home share. Running costs, the property reserve fund and other approved contributions are additional. The administration fee is therefore not the full monthly cost.

Heimkoma plans and carries out maintenance. Owners pay their share of running costs and fund contributions under the budget and agreement. The administration fee alone does not include every repair or improvement.

Additions and major works require approval under the co-ownership agreement and a clear cost estimate. Draft agreements require 80% approval for certain works and 100% approval to use the operating fund. Where a property has both 8% and 12% shares, voting weights and cost allocation must be confirmed before decisions are made.

Damage must be reported to Heimkoma and assessed under the applicable insurance and agreement. Cover, excess and the cause of damage determine settlement. Costs not covered by insurance depend on liability and the property's rules; full compensation cannot be promised for every incident.

Running costs cover maintenance, insurance and operations. A portion goes into a shared property reserve fund, which accumulates and belongs to the owners. It covers major repairs, upgrades and damage.

The arrangements for holding the fund are set out in the property's agreement and financial information. Heimkoma provides details of the account and its terms; no general guarantee of inflation protection or returns is given here.

Heimkoma assesses the damage with the insurer and owners. If costs exceed insurance proceeds and available funds, payment obligations depend on the cause and applicable agreement. Cost allocation in a property with mixed 8% and 12% shares must be clear before payments are determined.

Yes, additional cleaning is available for a fee. Contact Heimkoma to confirm availability, pricing and booking for your property.

In a three-home community, an 8% share of each property provides 28 days per house per year: 14 in high season and 14 in low season. Across three houses, that is 84 days or 12 weeks. In a single property, including Reykjavík, a 12% share provides 42 days or six weeks: 21 in high season and 21 in low season. Heimkoma retains 4% of each property. The same house may contain both 8% community shares and 12% single-property shares.

Under the draft booking rules, the general booking window is up to 12 months. One long-range booking is also allowed per 24-month period, up to 24 months in advance; the previous such stay must have been used before another is booked. A special rule opens June–August of the following year on 1 March of the preceding year. Until 1 March in the year of the stay, summer bookings must be whole seven-night weeks. Confirm the applicable rules and availability for each booking.

Day swaps within a community must follow the booking rules and receive Heimkoma's prior approval. There is no general right to unrestricted exchanges between unrelated communities. Swaps must align with the owners' remaining days and entitlements.

The usage entitlement is annual. Do not assume unused days transfer automatically to another year; their treatment must be confirmed under the applicable agreement and booking rules.

Bookings depend on availability, remaining days and the booking rules. An owner may not book the same holiday or premium period in consecutive years; in a three-home community this applies across all houses. If dates remain available three months before the stay, any owner with enough days of the correct type may book. More than three months ahead, a three-home owner may book up to two consecutive summer weeks in each of two houses: 2 + 2 weeks. The rules do not guarantee any particular week.

Yes. Guests are welcome if you are present and they follow the house rules.

You may buy additional shares, if available, to increase your annual entitlement. Vacant dates do not automatically entitle you to book beyond your remaining days. Any additional stay must be separately agreed; no fixed-price purchase of extra days is promised here.

You can check the remaining dates and book within your remaining days and the applicable rules. The draft rules provide a general 12-month booking window and a special opening on 1 March for the following summer. Booking up to 24 months ahead is a separate, conditional entitlement, not a general opening of all dates.

Submit a request to swap days. The other owner's consent and Heimkoma's prior approval are required for the swap to take effect under the booking rules. Contact us for help recording and confirming the swap.

This may be possible if the dates are free, you have enough unused, unallocated days of the correct type for the property, and the extension complies with the booking rules. The maximum continuous high-season stay is two weeks in a three-home community and one week in a single property or Reykjavík. The three-month exception does not guarantee a longer continuous stay than these limits.

Contact Heimkoma about cancelling or swapping days. Under the draft booking rules, cancellation requires at least two weeks' notice and Heimkoma's approval. After that, days count as used unless they are used through an approved swap or rental under the rules. The applicable agreement determines the final outcome.

Bookings cannot be freely transferred. Approved day swaps follow the booking rules. Rental Days is a separate option in which you allocate a number of days from your annual entitlement to rental without choosing specific dates. Income may reduce your costs but is not guaranteed.

Draft agreements provide that a third written warning may lead to a buyout under specified conditions. This is not an automatic consequence of every breach. The authority, valuation, deadlines and procedure depend on the applicable signed agreement.

Heimkoma administers usage rules and informs owners of changes under the applicable agreement. Annual entitlements depend on the product: 28 days per property in a three-home community, or 42 days in a single property or Reykjavík. Booking procedures must respect these rights.

This depends on the property's house rules. Pets are permitted in Húsafell under the guest handbook, provided house rules are followed and they cause no damage or disturbance. Confirm the rules for other properties before bringing a pet.

Yes. Rental Days is an optional service managed by Heimkoma. In a single property, including Reykjavík, you choose 10, 20 or 30 days per year. In a three-home community, you choose 25%, 50% or 75% of your booking days. You may also choose no rental.

Your contribution is a number of days to the annual rental inventory, not specific dates. Contributed days do not automatically return to personal use if they remain unlet. Rentals must meet the property's requirements and agreement.

The first 14 rented days in each house use Heimkoma's own allocation, and their income is outside the owners' pool. Income from subsequent rentals using owners' contributions goes into a shared pool; in a three-home community, this covers all three houses.

All rental costs are deducted first, including rental-related taxes and statutory charges, cleaning and booking platform fees. Then 2% of the remainder goes to the operating fund. Each owner's income base is calculated according to their days contributed as a proportion of the total owner contribution to that pool.

Owners receive 50% of their income base for contributing 10 days in a single property or 25% in a three-home community; 60% for 20 days or 50%; and 65% for 30 days or 75%. The remainder goes to Heimkoma. These are shares of the net income base, not returns on the purchase price. Income depends on actual rentals and costs.

Draft rental agreements provide that the owner's net income is first applied to their fees for the current year. Any balance is paid by 31 January of the following year. Settlement and payment deadlines follow the applicable agreement for your property.

Heimkoma receives the damage report and seeks resolution under the booking platform's terms and applicable insurance. Treatment of unrecovered costs depends on the rental agreement. There is no unconditional guarantee here that Heimkoma will pay for all damage.

Rentals generally go through Heimkoma. You may not independently rent the property to a third party without Heimkoma's prior approval. The necessary permissions and operating conditions must also be in place for the property.

Heimkoma considers market conditions, seasonality and demand. The aim is good occupancy at appropriate prices. The guideline of generally renting no more than 70% of contributed days is an operating target, not guaranteed occupancy or an automatic cap. Neither prices nor income are guaranteed.

Yes. You receive a settlement statement showing income, deductions, fees and your share. Contact Heimkoma about delivery of and access to statements for your property.

The rental choice is annual: 10, 20 or 30 days in a single property or Reykjavík, or 25%, 50% or 75% in a three-home community; no rental is also an option. Draft rental terms require selection before 31 December for the following twelve months. An annual change requires Heimkoma's prior approval. Contributed days that remain unlet do not automatically return to personal use.

Rental-related taxes and statutory charges are deducted before net income is divided. Owners receive a settlement statement but remain responsible for their own tax returns. The precise tax treatment depends on the owner's and rental's circumstances; there is no general promise here of tax exemption or that Heimkoma handles all personal tax filings.

You can list your share on the market or ask Heimkoma for help. Pre-emption rights and other conditions in the applicable agreement apply. The sale price may be above or below the purchase price, and selling costs are set out in the agreement.

Draft agreements provide that Heimkoma will offer to buy if 18 months pass without a sale after the owner requested Heimkoma's assistance. Valuation is subject to contractual provisions, including a limit linked to the lowest offer. The drafts allow payment by a five-year debt instrument. This is therefore not a guarantee of a cash sale after 18 months; the applicable signed agreement determines rights and payment terms.

Yes. You can offer your share on the open market or ask Heimkoma for assistance. A sale is subject to pre-emption rights and other conditions in the applicable agreement. Neither the sale price nor the time to sell is guaranteed.

In an ordinary sale, the market determines price and demand. Draft agreements provide a valuation process involving valuers in certain circumstances when there are no offers. The precise method, limitations and valuation costs depend on the applicable agreement.

The buyer pays a 0.8% joining fee on resale, as on the initial purchase. This is the same as the ownership-transfer administration fee, not two charges for the same action. Any separate sales service and seller costs must be agreed before the service begins.

Days follow the share purchased: 8% in each of three properties provides 28 days per property, while a 12% single-property share provides 42 days. A new owner cannot unilaterally change this allocation. Rental Days is a separate choice under the rental rules.

Heimkoma administers ownership transfers under the agreement and coordinates the necessary paperwork. The buyer pays a 0.8% joining fee; another equivalent transfer fee is not automatically added. The scope and cost of further legal work must be agreed.

Property and share values can rise or fall. You may sell for less than you paid. Market conditions, offers and any applicable contractual valuation determine the price; appreciation and recovery of the purchase price are not guaranteed.

It is a service for holiday property owners who want to sell shares in their house through Heimkoma, reducing commitments and costs while continuing to enjoy it without handling maintenance or administration.

No. You do not have to sell the entire house to Heimkoma. With Hold & Release, an agreement moves the property into co-ownership and sells part of it. A purely single-property arrangement has eight customer shares of 12%, totalling 96%, with Heimkoma retaining 4%. You may retain shares as agreed. This is not an equal eight-way division of the entire property.

In a single property, each 12% share provides six weeks or 42 days per year: 21 in high season and 21 in low season. Under Hold & Release, a seller can agree to keep up to four of the eight 12% shares. Heimkoma retains 4% and two weeks for its own use, one in high season and one in low season; both maintenance weeks are in low season. Bookings depend on availability and rules, including the one-week limit on continuous high-season stays in a single property.

The sales period and conditions for withdrawing the property must be agreed. Earlier material described a 12-month sales period and a review if fewer than four shares sold; this is not presented here as a general, unconditional exit guarantee. Heimkoma does not automatically buy unsold shares. The agreement must also clarify refurbishment and running costs.

The seller pays all running costs, including maintenance, insurance and property taxes, until shares are sold. New owners contribute from the handover date.

Heimkoma takes a 4% ownership share as its service fee. Refurbishment and running costs during the sales period remain your responsibility unless otherwise agreed.

Heimkoma manages and carries out the necessary upgrades to meet the H-Class standard. If the sale is unsuccessful, the seller pays for the upgrades while benefiting from Heimkoma's favourable purchasing terms.

Yes, if shares become available and the agreement permits the purchase. Under Hold & Release, the number of shares you retain or buy must be agreed. Heimkoma's pre-emption right does not automatically operate on your behalf, and later availability is not guaranteed.

Selling shares can release funds tied up in the house and allow you to share running costs with new owners while retaining the agreed shares and usage rights. The outcome depends on the sale price, upgrades, fees and ongoing costs. Savings, sale price and returns are not guaranteed.

You can agree to sell all customer shares you hold in the arrangement. The agreement must specify the purchase price, costs and Heimkoma's 4% share. Buying a share later depends on availability and applicable conditions; it is not guaranteed.

Heimkoma handles regular maintenance, cleaning and quality inspections. The property meets the H-Class standard and is professionally managed all year.

Heimkoma may suit you if you want to retain a smaller ownership share and delegate day-to-day administration. We manage the sales process, upgrades, maintenance and bookings under the agreement. You continue paying the fees and running costs associated with your retained shares, and remain responsible for taking good care of the property. The benefit is less daily administration and the possibility of releasing equity.