Help CenterThe PublicSquare onboarding process involves several important contracts and agreements, each crucial to the investment process. Here's a breakdown of these documents:
Standard Contracts for Property Purchase
- New and Off-the-Plan Properties: Investors enter contracts of sale directly with property developers or builders, usually as 2-part HIA agreements.
- Pre-Existing Properties: For pre-existing properties, investors sign a contract of sale directly with the current owner.
Appointment of Agent
- PublicSquare Agency Appointment: This agreement gives PublicSquare the authority to handle all letting tasks for the investor and eventually sell the property to the tenant.
- Property Manager Agency Engagement: A local agency will usually appointed to maintain the property, manage inspections, and handle weekly payment collections.
Agreement to Lease
- This contract between the investor and selected tenants outlines all terms as detailed on our website and knowledge base. It's a legally binding agreement committing the tenant to lease the property after completion or settlement of the property.
Call Option Deed
- This deed covers the terms of option fees paid by the tenant, both upfront and throughout the lease. It explains how these payments contribute to the final deposit and are deducted from the sale price when the tenant buys the property. It also sets out how the final sale price is calculated and adjustments if property price growth is below 5% per annum.
Legal Advice Letter (Tenants Only)
- This document confirms that tenants have sought legal advice and understand their agreements. Investors receive a copy for legal protection against future disputes.
Lease
- This is the standard rental tenancy agreement for the state where the property is located. Signed when the tenant moves in, it covers all standard landlord-tenant obligations but includes higher weekly payments.
Contract of Sale
- When the tenant decides to buy the property in the 5th, 6th, or 7th year of their lease, the standard contract of sale format for the respective state or territory is used.