Common questions.
The questions people actually ask, answered plainly. If something here isn't clear, that's our problem, not yours.
Registering
Where can I see available Copay homes?
Copay doesn't maintain a public list of available homes. Tell us what you're looking for and we will be in touch when a suitable home is shortlisted and expressions of interest open.
Why do I need to register my interest?
What you tell us records the locations and types of home that suit you, so we know when to be in touch about one.
Does registering guarantee me a home?
No. Registering tells us what you're looking for so we can contact you about relevant homes. It does not reserve an ownership interest or guarantee that a suitable home will become available.
Can I change what I'm looking for?
Yes. You can update your preferences as your plans change.
What will I receive?
Emails about homes Copay shortlists in the destinations you chose, and an invitation to express interest when that opens. We do not promise a frequency, a timeframe, or that a home will be found in any particular destination.
Is joining a list the same as an expression of interest?
No. Joining a list says which destinations interest you. An expression of interest is a separate, later step about one specific home, made after you have seen its details and costs. Neither is a purchase commitment.
Does it cost anything to register?
No. No payment is required to enquire or register your interest.
What if a suitable home does not come up?
Then nothing happens and you owe nothing. Copay only puts a home to people when it has assessed one worth putting, and there is no guarantee that a home will be found in a given destination.
Can I change destinations or stop the updates?
Yes, at any time. Email himanshu@copay.au to add or remove a destination or to stop the updates altogether.
Do I need to organise the other owners?
No. You register on your own. Copay gathers interest from individual prospective owners and brings the ownership group together around a specific home.
You register individually. Copay brings the ownership group together around a suitable home.
Mohamed Ismail, Co-founder & General Manager · About 28 seconds
What this is
What exactly do I own?
Units in the trust that owns the home. Said plainly: the trustee company is registered on the property title. You own units in the trust, not the land directly. Your units are recorded on the trust's unit register and represent a defined share of that one home.
Do I need to find other buyers?
No. You buy your share individually. Copay assembles the co-owners and runs the home. There is no group to organise, no shared mortgage, and no money conversation with friends.
How many owners are there?
A maximum of eight per home.
Who is behind Copay?
Himanshu Arora, co-founder & ceo, and Mohamed Ismail, co-founder & general manager. They choose the homes and stay involved in how each one is run.
Using the home
How much can I use the home?
Usage is allocated according to your ownership share and set out in the co-ownership agreement. It is expressed in nights and varies by share size. Copay manages the booking calendar, including a rotation for peak periods and school holidays.
Who gets Christmas?
Peak dates rotate between owners every year. Have Christmas this year and you rank lower for it next year, so nobody keeps the best dates and nobody negotiates with anyone. The rotation is run by the Copay portal, not by owners talking to each other.
What if I want the house at short notice?
When dates are free you may be able to book them at short notice. The home's scheduling rules set out how that works.
Can I let my nights out on Airbnb?
No. Copay homes are for their owners. Owner nights can't be let out, subject to the terms of your ownership.
What does Copay manage?
Copay coordinates the day-to-day running of the home. The written cost breakdown explains the Property Operating Levy, what it covers and any separate charges. The home: cleaning and changeovers, maintenance and repair coordination. The running of the home: bill administration, scheduling, owner communication.
Cost
What does it cost to buy in?
Your share, paid once, as one inclusive purchase price. It covers the applicable acquisition costs, stamp duty and taxes, acquisition legal costs, and setup, staging and furnishing. Your own independent professional advice is separate. Figures vary by property and are confirmed in writing before you commit.
What are the ongoing costs?
One monthly levy. Ongoing property costs such as insurance, maintenance, rates and scheduling are managed through one monthly payment. You don't chase tradespeople or collect money from other owners.
Are there other fees I should know about?
The costs are the ones listed above. Everything is itemised in the home's cost pack, in writing, before you commit. If a home carries a cost the others don't, it appears on that home's pack.
When things go wrong
What if another owner stops paying?
You do not have to chase another owner. The trust agreement sets out what happens if it is not resolved.
What if someone damages the house?
Damage is charged to the owner responsible through the home's ledger, not shared across everyone.
Do I have to deal with the other owners?
No. Copay handles the money, the bookings and the admin. You never negotiate a date or a payment with another owner.
Selling later
How long does it take, and what will I get?
Copay manages the process. You decide when to sell and what price to accept. A sale isn't guaranteed, and timing depends on market conditions and buyer demand.
Still have a question?
Ask it and a real person will answer, or book a call if you'd rather talk it through.