What is Letterbox?
Put simply, Letterbox is a platform that helps connect people interested in exploring property co-ownership opportunities.
Is co-buying safe?
Absolutely a fair question.
The reality is that people (you included!) enter into shared financial arrangements all the time. We put our money in banks, super funds, invest in shares, and invest in businesses as silent equity partners — none of which are completely risk-free.
Property co-buying is no different. Unlike some investments, you get to set a lot of the rules upfront. Things like contributions, responsibilities, and exit strategies can all be agreed to before anyone parts with any serious money.
So, is it safe? It can be — when it’s approached properly, with good advice, clear agreements, and a healthy appreciation that, like most worthwhile things in life, there are no guarantees.
Am I crazy for considering this?
We don’t think so.
We already pool money and share risk everywhere — banks, investments, funds, businesses. It’s basically how most of the modern financial system works.
Property is one of the few areas still stuck on the idea that you have to do it all yourself and own 100%. For a lot of people, that’s starting to feel a bit outdated in today’s market.
We’re not saying co-ownership is for everyone. But it’s also not as “outside the box” as it sounds.
How can I trust the person I might co-buy with?
Reality is, successful co-buying is built on agreements, not trust.
Before anyone parts with any serious money, there are usually a number of professionals involved whose job is to make sure everyone understands what they’re getting into. If finance is involved, lenders assess whether each party can actually afford their commitments.
It’s also standard practice to have a co-ownership agreement prepared with independent legal advice. This sets out things like contributions, responsibilities, exit strategies, and what happens if things don’t go to plan.
So yes, trust matters. But good co-buying is really built on clear agreements, professional advice, and making sure everyone is on the same page from the start.
How can I co-own?
The world is your oyster. There are lots of ways people can structure co-ownership, and no two arrangements have to look the same.
To make Letterbox easier to navigate, we’ve grouped opportunities into a few broad categories:
Joint Residency
All co-owners own a share of the property and live in it together.
Silent equity partnership
The silent equity partner/s owns a share of the property but doesn’t live in it. The resident partner/s also owns a share and lives in the home. Depending on the arrangement, the resident partner/s may pay rent for use of the share owned by the silent equity partner/s.
Rent-to-Buy
An arrangement between a rent-to-buy owner and a rent-to-buy resident. The rent-to-buy owner owns the property, while the rent-to-buy resident lives in the home and works towards an ownership interest over time. This might involve an initial contribution, higher ongoing payments or another arrangement agreed between the parties.
Co-ownership (general)
For opportunities that don’t neatly fit into one of the above, or where you’re open to exploring different structures with the right people.
What is a co-ownership agreement?
A co-ownership agreement is a legal agreement that sets out how the co-ownership arrangement will work.
It can cover things like who contributes what, how decisions are made, what happens if someone wants to exit, and how disputes are handled. Every arrangement is different, which is why we recommend getting independent legal advice before moving forward with a co-buyer.
Do I buy the property through Letterbox?
No.
This isn’t where you go to buy a property — there are plenty of sites for that (you know the one).
Letterbox is a space to connect with potential co-buyers and explore co-ownership opportunities. Think of it like meeting the person (or people) you might buy with, not the property itself.
If you already own a property and want someone to buy into it, you can also list that opportunity here. But the actual purchase and process happens outside the platform with your chosen professionals.
We’re staying in our lane — and keeping it focused on the people, not the property listings.
Does Letterbox vet users?
No, we don’t.
At this stage, Letterbox doesn’t vet or verify users. It’s up to each person to do their own due diligence and take appropriate care when connecting with others.
We’ve made that decision for a few reasons — mainly because formal vetting would add a lot of complexity, cost, and friction to the platform, and would change how it operates.
Why does Letterbox cost money?
Honestly? Three reasons.
1. We wanted to create a clean, focused and helpful platform that isn’t polluted by random ads, spam, sponsored content or pop-ups.
2. We hope a small membership fee helps create a community of people who are genuinely interested in exploring co-ownership opportunities.
3. Building, running and marketing a platform costs money, and we’d like the founder to afford rent and eventually be able to buy a house too.
How can I co-own with confidence?
The way you buy might look a little different. The checks and balances don’t have to.
Lender assessments, independent legal advice and a clear co-ownership agreement can all happen before you commit, helping everyone understand what they’re agreeing to.
Finance - the bank does its checks too
If you’re applying for a home loan with a co-buyer, the lender will assess the borrowers before approving the loan. This can include looking at things like income and employment, expenses and existing debts, savings, credit history and repayment history.
In other words, you’re not simply taking someone’s word that they can afford their share — the lender has its own checks and lending obligations too.
Agreements — get the important stuff on paper.
A co-ownership agreement can set out who owns what, who pays for what, how the property will be used, how decisions are made and what happens if circumstances change. Co-owners can also seek their own independent legal advice, so everyone understands the agreement before signing.
Plan the exit before you enter.
It might sound backwards, but agreeing on the “what ifs” upfront can save a lot of uncertainty later. What if someone wants to sell? Can another co-owner buy their share? How will it be valued? What happens if someone’s circumstances change? How are we exiting the agreement? These are exactly the kinds of things that can be considered in your co-ownership agreement.
