Your expression of interest is received and your block is secured. 

What's next?

Here's what to expect step-by-step as we assist you through the process of finance approval and the construction of your co-living custom-build with INVIDA.

There's exciting times ahead! You're about to embark on an investment journey that ends with real positive cash flow in your pocket, and highly sought-after affordable rental housing for your portfolio.

There are several steps along the way and important milestones we'll help you navigate. Welcome! We've got our back.

To find out more about the next steps read the information below and watch this special message from INVIDA founder, Ian Ugarte.

Step-by-step to success

Step 1. Finance Referred

TIMEFRAME: 3-7 days

To get the ball rolling, you will have paid a $1,000 fully-refundable application fee, and also signed an 'Expression of Interest' via Docusign. This application deposit and the signed EOI are held as you move through the finance approval process. Your INVIDA advisor will make an appointment for you to speak with an independent finance broker to get the process underway. Ahead of your appointment, make sure you are prepared with any tax summaries, superannuation fund balances, identification etc. 

If you are a cash buyer, or if you have pre-approval with your own broker, you will move straight to Step 2.


Step 2. Broker Approved

TIMEFRAME: 1-2 days

Once the finance team has assessed your application and confirmed that you are in a position to purchase, you are 'Broker Approved'. At this stage, INVIDA will be back in touch to confirm your lot #, property design, pricing, and if you're ready, move to contracts.


Step 3. Sales Information Sheet

TIMEFRAME: 5-7 days

INVIDA works hand in hand with three very important external teams; the land agent, the developer who will build your property, and the conveyancing solicitor who will act on your behalf.

At this stage, your house and land sales information sheet will be signed, confirming all of the details of your purchase, and sent to all three teams. A Land Contract will be issued and you will be required to pay a Land Holding Deposit and Solicitor Engagement Deposit. These initial payments will be deducted from your credit card by CJM Law and those funds will be held in the CJM's trust account.

Unless you are a cash buyer, the Land Contract will be subject to finance approval.

Once CJM Law has received their engagement deposit and the Land Contract, they will be in touch to begin engagement.
Alternatively, you can book a meeting with them. A Meeting Link will be emailed to you at this time.

Step 4. Sign Land Contract

TIMEFRAME: 5-7 days

With your Land Contract signed, your conveyancer will submit the Contract to the Office of State Revenue. It's vitally important that the purchasing name(s) or entity on the contract is 100% correct to avoid incurring double stamp duty.

You will also need to forward a copy to your Finance Broker (if applicable) who will add it to your finance application. This will not be submitted for finance until the Build Contract is ready, which normally takes 2-3 weeks.

Step 5. Sign Preliminary Contract

TIMEFRAME: 21-28 days

Next, you will receive the Preliminary Agreement from the Builder.
* Note: Some builders skip this step

The agreement will need to be signed and returned with the Preliminary Fee. The Preliminary Fee covers the cost of the Engineering Report and the Site Survey required for preparation of the Build Contract.

With your Preliminary Agreement signed and the Preliminary Fee paid, the process of having your Build Contract drawn up commences. The process of preparing your build contract can take up to 3 weeks, depending on the workload of the engineering and surveying company preparing your documentation. We will check in and update you through this period, but reach out should you have any questions.

Step 6. Sign Build Contract

TIMEFRAME: 60-90 days

At this stage, the Build Contract is issued for review and signing. Once the fully-executed copy has been emailed to you, the Build Contract can be forwarded to your broker to formally submit with your finance application.

Step 7. Unconditional

TIMEFRAME: 14-21 days

With your Build Contract signed and finance formally approved, you are ready to go 'Unconditional'. This means that no additional terms or clauses can be added to the contract. It is simply carried out in line with the relevant legal obligations. 


Step 8. Pay Build Deposit

TIMEFRAME: 7-10 days

Now your project kicks into high gear! Your Builder will require payment of a deposit to order materials, and assign the relevant resources to schedule your building works.


Step 9. Land Settlement

TIMEFRAME: 21-28 days

If your land is titled, your Contract for purchase of the land is typically ready for settlement within 2-3 weeks. If titles are still due, settlement will occur once land titles have been issued by the State Government.

If you are a cash buyer, the balance of the land purchase price is now payable. If you are financing your purchase, your Broker will assist you in arranging this payment.


Step 10. Slab Stage

TIMEFRAME: 40-60 days

Works on your project are now well under way and you are as they say in the building biz, 'out of the ground'. You have reached 'Slab Completion Stage' of your build.

With 'Slab Completion' stage reached, your next payment to the Builder/Developer is now due.

It's an exciting time because your project is getting closer to completion and it's time to start thinking about furnishing and managing your property.

INVIDA Property Management can handle everything to do with managing your property and its residents. As a boutique agency, run by people with years of experience in the co-living market, INVIDA Property Management can provide you with specialised co-living management services to ensure your property is looked after while attracting the best returns possible. We'll connect you with our property management team at this stage.


Step 11. Frame or Plate Height Stage

TIMEFRAME: 70-90 days

During the framing stage, your co-living project starts to take shape. With the walls framed, you can start to see the different rooms within your home. At this point, you'll have a good feel for what your private and communal areas will be like and can start planning furnishings and staging with your property manager.

With 'Frame Stage' being completed, you will receive an invoice from the Builder to make payment on your Frame Stage Payment.


Step 12. Enclosed or Roof Cover Stage

TIMEFRAME: 60-80 days

The 'Enclosed' stage of your build means the structure totally enclosed by walls that extend from the foundation to the roof, whether those walls include doors or windows of any size, so as to prevent the ingress of rainwater into the property. At this stage the builders commence internal fit out of the rooms, including kitchenettes, bathrooms, closets, and flooring.

With 'Enclosed Stage', you will receive an invoice from the Builder to make the next interim payment on your project.


Step 13. Lock Up Stage

TIMEFRAME: 80-100 days

'Lock Up' means the stage where the internal trades get busy and the site is humming with activity! The internal walls are fitted and the plasterers get to work. The tilers and floor layers lay the flooring and the painters paint the walls and ceiling. Electrical and plumbing is also completed at this stage.

This is one of the biggest stages with a large portion of the build coming together here. At the end of this stage, the building is almost complete! 


Step 14. Practical Completion

TIMEFRAME: 30-45 days

'Practical Completion' means the stage where building works have been certified by the Developer that the Building Works have been completed in accordance with this contract, except for minor omissions, and the Builder/Developer has done all that is required to be done to obtain a Certificate of Occupancy for the property.

At 'Practical Completion Stage', you will receive the final invoice from the Builder/Developer, which completes your project.


Step 15. Handover

TIMEFRAME: 30-45 days

The 'Handover Stage' of a construction project is when the site is handed back to you, the client, ready for you to have renters occupy the property. This takes place once the contract administrator has confirmed that the works defined in the contract are complete (typically once practical completion has been certified).

At this stage, INVIDA will ensure all the extras that are needed for you to legally rent the property as a co-living investment are completed and you will re-engage the Certifier to apply for 1B Certification.

Step 16. Property Management

It's now that your INVIDA Property Manager can take the reins and start preparing your property for rent.

With your Property Management Contract signed, our team will take care of the following:

  • Specialised co-living marketing program
  • Arrangement of Insurance through a specialised co-living broker
  • Arrangement of inspections and compliance
  • Professional staging, photography and videography
  • Initial Condition Report with Images
  • Detailed entry and exit reporting with Images
  • Inventory management
  • Digital keypad entry systems management
  • Inspection scheduling and co-ordination
  • Regular cleaning and maintenance
  • Arrangement of tax depreciation schedules
  • INVIDA Property Management's team will also handle your furnishing package.
  • Step 17. Furnishing and Photography

    TIMEFRAME: 14-21 days

    INVIDA Property Management's staging service is the fastest and most efficient way to ensure your property is presented in a way that will attract the best co-living renters at the highest possible rent.

    We source our furniture and products from a range of suppliers to bring you an up-to-date interior that's both durable and practical. Our staging package includes all furnishings, accessories, kitchenwares, and linens required to rent your co-living micro-apartments.

    Our services timeline is outlined below:

    WEEK 1

    • Finalising furniture layout plans.
    • Ordering furniture package.
    • Deliveries arrive at property.
    • Adress any maintenance issues

    WEEK 2

    • Assembly of furniture at the property.
    • Staging.
    • Final deep clean.
    • Gardening and weeding.
    • Rubbish removal.
    • Professional photos.
    • Address any maintenance issues at the property.

    WEEK 3

    • Handover to property management team


    Step 18. Leasing

    INVIDA Property Management is a full service agency specialising in co-living rental properties. We strive for an exceptional service experience to our valued clients in all aspects of the leasing and management process. Everything is taken care of from construction handover, until your property is furnished, photographed, advertised and fully rented.

    Our Property Management timeline is dependent on the property, the number of rooms, and its location. We require the Client Contract to be signed upfront, then it typically takes our property team 4 weeks from staging to fill a 4-5 bedroom house.

    INVIDA's guarantee that you will achieve at least double the rent of comparable single-family homes in your area is ONLY given if you engage INVIDA Property Management services. 

    Have questions? Contact us at

    We're in this together .... 

    We've gone to great lengths to partner with Builders, Brokers, Land Suppliers, and Solicitors that we have vetted and trust with your project and our reputation.

    The INVIDA team is here to guide you, and ensure that your project is a successful one. It may feel like you're climbing a mountain now, but you can think of us as the sherpa - setting up base camp, ensuring the trek is a safe one, and cheering you on when you reach the summit!

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