A Guardian is an investor or two investors just like any other investor on the Housies platform except they live in a house they have invested in. A Guardian can also invest in any other house on the Housies platform as well as the house they live in.

A Guardian must complete an application form and meet assessment criteria to be approved and an important consideration is their financial assessment so that they can meet their Occupation License payments to other investors.

Occupational License Agreement

A Guardian must sign an Occupation License (OL) for the house they are going to live in. The OL sets out the Guardian and Property Co responsibilities, what happens if either party does not meet those responsibilities, the process to remedy not meeting the OL conditions and what happens when problems cannot be resolved. The OL includes mediation provisions by a third party if any complaints (by either party) or license problems are not able to be resolved.

Up to two people can sign an Occupation License agreement and together or individually must purchase 2 percent of the issued shares in the property they have applied to live in.

Guardian Responsibilities & Share Ownership

To be able to continue to live in the property Guardians must always own no less then 2 percent of the shares issued by the Property Co. If the share ownership falls below 2 percent, the Occupation License will automatically be terminated, and the Guardian must vacate the property.

• Guardians are encouraged to increase their shareholding in the property over time as they can afford to do so as this builds their equity value.
• Flatmates are permitted and a flatmate agreement must be signed and recorded with the Property Co.
• Pets are allowed so long as the Guardian meets local body regulations, and they are registered where required.
• A Guardian will have some home care responsibilities, they will mow the lawns, look after the garden and grounds and be responsible for any damage they cause that needs repair. Normal wear and tear is not included.
• A Guardian can leave the property and terminate the OL. They must sell at least the minimum number (2%) of shares to an incoming Guardian at an acceptable market price. Where there are two Guardians and one wants to vacate the property, their shares must be purchased by the other Guardian if that is required to maintain the minimum 2% share ownership. If this is not necessary, the guardian leaving can sell their shares on the Housies marketplace or retain them.
• A Guardian can also transfer between properties by completing an updated application form. This does rely on an appropriate property being available.