Why we built Copay.
We watched families spend years renting the same coast while second homes sat empty most of the year. Neither made much sense. So we built a simpler way to own one, share it fairly, and leave the running to us.
Himanshu Arora & Mohamed Ismail
Co-founders
The maths never worked.
A holiday home on the coast costs what a house costs, and sits empty most of the year. Buying one alone means carrying the whole price and the whole job of running it. Splitting it with friends means a group to organise and a money conversation nobody enjoys. So most people keep renting, and keep ending up somewhere that never becomes theirs.
One home. A small group. Someone else running it.
Copay buys one home, holds it in its own unit trust, and sells shares in that trust to individual buyers. A maximum of eight owners per home. We assemble the owners, we run the house, and the rules for nights, costs and selling are written down before anyone signs.
The hard part of shared ownership isn't the structure. It's making it work year after year without anyone having to manage it. That's the part we took on.
How we work.
Say the hard parts out loud. We tell you what we don't promise before you ask.
Write it down first. Nights, costs, governance and exit are documented before you commit, and your solicitor is welcome to read all of it.
One home at a time. We buy for the people who registered, not ahead of demand.
Run it properly. The service is the product. The structure is just how it's held.
Copay.
Copay is operated by Elate Holdings Pty Ltd, ABN 58 655 961 176, based in Brisbane. Every home is held in its own Fixed Unit Trust with a corporate trustee, governed by a solicitor-drafted co-ownership agreement.