Common questions.
The questions people actually ask, answered plainly. If something here isn't clear, that's our problem, not yours.
What this is
Is this a timeshare?
No. A timeshare generally gives you a right to use. A Copay share gives you an ownership interest in the structure that owns a specific home. You hold units in a dedicated unit trust that owns one house, at one address, with a maximum of eight owners. Your rights are set out in a solicitor-drafted co-ownership agreement.
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.
Can I use my super to buy a share?
No. Australian super rules prohibit fund members using residential property owned by their fund for personal purposes, regardless of whether rent is paid, so a holiday home you actually use sits outside superannuation. Purchases are made with personal capital. Get your own advice on your circumstances.
Using the home
How many nights do I get?
Your annual nights are based on your ownership fraction and the 365-day year: a one-eighth share is 45 nights, one-sixth is 60, one-quarter is 91.
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 can book them on short notice without using your advance allocation.
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.
Cost
What does it cost to buy in?
Your share, paid once: your share of the home, plus applicable transfer duty, legal review and Copay fees. Figures vary by property and are confirmed in writing before you commit. You can estimate your region in the calculator.
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?
Copay steps in, manages the arrears and pursues the payment, so you're not the one chasing another owner. The trust agreement sets out what happens if it isn't 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
Can I sell my share?
Yes, through a defined process. Request a sale once your minimum holding period is met, an independent valuation helps determine the market value, existing co-owners get the first opportunity where applicable, then Copay markets your share to registered buyers, the buyer completes verification, and your units transfer.
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.
Will my share be worth more later?
We don't suggest, imply or promise that. Property values can fall as well as rise. Don't buy a share expecting it to be worth more later.
Still have a question?
Register your region and we'll answer it directly, or book a call if you'd rather talk it through.