Reve offers ownership in an RV through a RV-specific LLC with a maximum of four co-owners. You may own anywhere from ¼ to ¾ equity i.e, 1 to 3 shares in an LLC corresponds to an equal amount of ownership of the Reve RV.
As a Reve co-owner, the extent of your RV usage rights aligns directly with the proportion of your ownership stake. The scheduling system provides an equitable and flexible booking mechanism for all the Co-Owners to enjoy the RV.
You have the right to sell your interest in your Reve at any time (after at least one year of ownership) Other Co-Owners also have the right to sell their interest in the RV, but no single Co-Owner has the right to sell the entirety of the RV.
To simplify your co-ownership experience, Reve consolidates all associated costs like insurance, registration fees, and maintenance into your monthly operating expenses. This streamlined approach proportionally aligns your financial responsibilities with your actual RV usage, making RV co-ownership a breeze.
A limited liability company (LLC) is a type of legal classification for U.S. businesses. LLCs are private, limited companies made up of individuals who own the LLC. The owners of the LLC benefit from personal asset liability protections, tax benefits and flexible management options.
The main benefit of an LLC is that owners take on less risk. Owners carry limited personal liability for any business debts the LLC might incur. This means that the owner's personal assets such as cars, homes, bank accounts, etc. are protected should the business owe debts or get into a lawsuit.
If an LLC is owned by multiple people, it’s called a multi-member LLC. Owners of a multi-member LLC can manage themselves as a group or establish a single manager to govern the LLC.
Reve offers RV Co-Ownership via manager-managed multi-member LLCs. Each property has its own unique LLC that powers all repairs and maintenance costs associated with ownership. Reve RV owners purchase interest shares in a professionally managed LLC specific to one RV. LLC Co-Owners have 100% ownership at closing of the RV sale.
Managing an LLC can be hard, Reve put in the work to ensure successful operation of your LLC. Based on the best practices of fractionalized ownership firms and the top legal advice, Reve has created an owner operating agreement that defines in great detail how the LLC is to be managed.
The LLC operating agreement is a document that outlines the financial terms, individual responsibilities and day-to-day rules of engagement between the owners of a limited liability company.
The operating agreement of your Reve LLC includes specific procedures on management, operations and voting. This agreement governs how the Co-Owners interact with each other and is designed to minimize conflict, set expectations, and clarify obligations.
The operating agreement contains details on rights for scheduling the RV, rules around who can use the RV such as guests, owner fees, and limitations on the use of the RV (such as for commercial purposes).
LLC governance is also expressly defined in the operating agreement and defines how voting works and what role the manager plays in the operation of the LLC. This is one of the most important elements of the operating agreement. Each Reve share gets a vote. Voting plays a role if, for instance, one member wants to make a material change to the RV.
The operating agreement also defines restrictions upon resale or transfer of member interest in the LLC such as the restriction of selling one’s share within the 1st year of ownership.
Once you reserve your share and pay the deposit for your Reve, you are introduced to the operating agreement and setup for automatic monthly operating expenses. You also receive the RV-use policy, program manager agreement, and the RV inspection report.
The RV-use policy sets forth in greater detail how the program will be run and establishes expectations regarding a member’s use and enjoyment of the Reve RV. The program manager agreement defines the services and fees provided by Reve in regards to the management of the LLC and its RV.
LLCs don’t pay business taxes. Instead, they have a pass-through structure. This means that taxes are sent to the members to report profits on their individual tax returns. Owners are responsible for normal income tax and self-employment taxes.
Reve provides the safety and ease of Co-Ownership through a professionally managed LLC, so you get the benefits an LLC provides while skipping the paperwork and risk of managing an RV independently. This is just one of the many benefits of owning with Reve. Learn more.
Our mission is to make RV ownership more accessible and enjoyable for all. We strive to simplify the co-ownership process and provide support every step of the way. Take the first step towards hassle-free RV ownership by exploring our listings and envisioning the possibilities. With Reve, the journey is just beginning.
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