T&C Crowdfunding for Homeowners

Introduction

Our Heritage Homes is on a mission to build a global community of heritage property owners, lovers and supporters. We represent and promote already restored heritage properties to attract more visibility and bookings. And we guide and support homeowners in restoring and maintaining their properties.

As part of our support services for our heritage homeowner members, we offer the option to crowdsource financial assistance through the Our Heritage Homes platform. In discussion with the heritage homeowner, a campaign objective and target will be set and materials prepared and launched. 

Objective of Crowdfunding by Our Heritage Homes

The objective of any crowdfunding campaign is to enable concrete and tangible repairs, additions or transformations of a (or part of a) heritage property. 

Criteria for Eligibility

• • Regular membership / compliance with heritage property criteria as defined on the Our Heritage Homes website here
  • To make each campaign as concrete and motivating as possible for participants, a campaign and its set sum should enable the full and visible repair, addition, or transformation of a certain part of the property
  • The proposed repair, addition or transformation should be in line with principles of good conservation / restoration
  • Ideally the campaign would have a direct impact on the revenue potential of the property

Terms & Conditions

Campaign goal: at this stage contributions between USD 500 – 5,000 will be accepted

Fees: 15% to go towards social media marketing of the campaign and bank transfer charges. In addition the homeowner is expected to provide an incentive for contributors worth 15% of the total campaign value. 

Duration: typically to a maximum of 2 months

In case the campaign does not achieve its full goal the homeowner and Our Heritage Homes shall jointly discuss and agree on alternative use of the funds raised, and inform all contributors. 

Expectations and conditions for the participating Our Heritage Homes member

• To provide quality photos of the property, and the proposed repair, addition or transformation.
• To undertake a realistic costing of the proposed repair, guaranteeing through the signing of this T&C that if the campaign meets its goal the repair/addition/transformation will be fully executed.
• To commit to providing an incentive for campaign participants at the equivalent of another 15% of the campaign goal. This incentive is typically made available as a partially free night or nights at the property, which Our Heritage Homes converts into travel credit towards a stay at any of our properties.
  • Example: if a campaign goal is USD 1,000; the homeowner commits to providing USD 150 worth in free stays at their property. 
• To provide texts that cover (a template will be provided)
  • What happened / why the property got damaged
  • What the extent is of the damage or area in need
  • Why we are prioritising XYZ for repairs/additions/transformation
• To review the draft listing as prepared by Our Heritage Homes.
• To actively share and promote the Our Heritage Homes campaign and social media post on their own social media channels (can be their property and/or private pages).
• To undertake the proposed repaid/addition/transformation in accordance with principles of good restoration.
• In case the campaign goal is not fully met and there are insufficient funds for the proposed repairs, to help identify alternative good usage of the funds.
• To share evidence of payment for the executed works.
• To provide quality after works photos once the works have been done.

Expectations and conditions for Our Heritage Homes

• To upload the listing in accordance with the information provided and agreed by the heritage homeowner.
• To prepare at least 3 social media posts that will be boosted within the country and across all Our Heritage Homes markets.
• To transparently reflect the sum raised on the campaign page and share updates with the owner on a bi-weekly basis. 
• In case the campaign goal is not fully met and there are insufficient funds for the proposed repairs, to help the homeowner identify alternative good usage of the funds while updating the contributors.
• To transfer the sum – minus fees – to the heritage homeowner as soon as the campaign reaches its targets.
• To make the campaign incentive(s) available to the contributors in a timely and professional manner.
• To publish a 4th post to thank all contributors. 
• To publish a 5th post with photos of the completed works.