There are many benefits to co-ownership from both an Occupier and an Investors perspective.

OKIVEST solves your property affordability issues through joint ownership solutions. We are there to support you throughout the entirety of your property journey.

We operate Australia wide.

There are two parties, an Occupier and an Investor. However, like any home ownership, multiple people can make up one of the joint owners. E.g. Both a Husband & Wife can be the Occupier of the property.

Just like buying 100% of a property, there are additional costs when buying a home. You will need to cover your solicitor’s fees, stamp duty and mortgage arrangements. Some of these costs however are shared between both parties making the initial outlay less than if you were purchasing the property outright.

Stamp duty is calculated on portion of the ownership, not the entire property.

You can buy any property available on the market. OKIVEST will help you through the journey including finding and purchasing the right property for you.

The circumstances will differ case by case, we recommend you seek independent advice to determine if you are eligible for the First Home Buyers Grant.

No. OKIVEST will work with you to find the perfect partner to match with you in finding the right property. We work with both parties to ensure the ownership agreement sets out each parties’ legal rights, obligations and also addresses any foreseeable issues and the means of dealing with them.

Yes. This is a common arrangement. With the help of OKIVEST we provide the support and guidance as well as the legal agreements so both parties are completely aware upfront of each other’s expectations. Working with OKIVEST, family and friends do not need to worry about the management of the property or getting into uncomfortable situations when questions arise which they hadn’t thought about or agreed on upfront. We think of all scenarios and take care of it all for you.

The preferred position is a 50/50 split however any % split can be arranged on agreement by all parties. We do however recommend a minimum of 25% by any single party.

To gain the full benefits of the ownership agreement for both the Occupier and Investor we recommend a term of 7 years. This is however negotiable if both parties agree to a different term.

Both the Occupier(s) and the Investor(s) will be on the property title as Tenants-in-Common.

Yes. The ownership agreement provided by OKIVEST will be a custom Ownership Agreement that covers potential issues and protects both co-owning parties.

OKIVEST has a relationship with a number of mortgage brokers who specialise in co-ownership. We can arrange for you to partner with these brokers who will work with you to secure funding for your property.

If funding is required for the purchase of the property, banks would usually require that you obtain funding under the same finance provider. We will work with all parties and a finance broker to ensure the best provider is found to support all parties as seamlessly as possible.

In most cases the total cost is the same as if you were only renting. Because the mortgage and the rent you are paying is only a portion of what you would otherwise pay the total amount is roughly the same.

As part of your relationship with OKIVEST you will have access to an online portal that will allow you to view real time information relevant to you. You can download financial reports and raise and review property Maintenance Requests. OKIVEST will coordinate services such as maintenance requests, ensuring an easy and transparent process for all parties involved.

The OKIVEST Portal will allow you to raise maintenance requests easily online. The request will be visible to all parties and OKIVEST will work with contractors to provide quotes before proceeding with any maintenance work. Approvals will be required to proceed if the quote is above the pre-agreed amount and will need to be given within a reasonable time period.

The ownership agreement protects both parties by having specific provisions that deal with default by either party.

If the occupier fails to pay rent it is a default under the ownership agreement and the provisions of the ownership agreement apply.

If you would like to make changes to your ownership agreement, both current co-owners would need to agree on the change before it is made.

The ownership agreement has provisions that cover the death of either party.

The ownership agreement uses the Tenants-in-Common structure. This allows each owner to retain control over their share of the property and can transfer their share to a third party by selling or as part of an inheritance. This is covered as part of the ownership agreement.

Unlike a rental property the Occupier is just that, an owner with the same rights as any owner including the ability to have pets. However, the occupying co-owner will be liable for the full cost of any damages occurred.

The Occupier can make small changes at their own expense to improve the property. Any significant renovations would need to be agreed by both parties. Specifics are outlined on the ownership agreement.

If the situation of the Occupier changes and they need to move out of the property then they may sublease the property with agreement from the Investor. They are however liable for the rent and any damage caused by the person sub-leasing.

The ownership agreement uses the Tenants-in-Common structure. This allows each owner to retain control over their share of the property and can transfer their share to a third party by selling or as part of an inheritance. The Co-owner will however have first rights to purchase your portion of the property before it is listed on the open market.

Yes. If one of you wishes to sell and the other has the means to purchase the property outright then the interested party has the first option to purchase the property.

If both parties wish to continue on with the arrangement, then OKIVEST will able to support you in extending the ownership agreement with newly mutually agreed terms.

OKIVEST will help you find the right seller’s agent to sell the property at the best possible price.