FAQs | Renosafe

General

What is Renosafe?

A platform for residential renovation projects. It records quotes, milestones, evidence, variations and payments, and passes the homeowner’s payment approvals to our payments provider.

Does Renosafe hold my money?

No. Funds are held and paid by our payments provider. Renosafe keeps the record and passes on the homeowner’s approval.

Is Renosafe available in my state?

Contractors in all states and territories can register their interest.

Does Renosafe give building, legal or financial advice?

No. For advice on your contract or rights, speak to a lawyer or your state building regulator. Links are on our Resources page.

Payments

How does a homeowner pay?

By bank transfer or PayID, one milestone at a time. Cards aren’t accepted.

When is a contractor paid?

When the homeowner approves the milestone. Our payments provider then makes the payment to the contractor’s nominated bank account.

What is retention?

5% of each milestone payment is held back until the defects liability period ends. It’s then paid to the contractor unless a defect has been logged.

What happens if a project is cancelled?

Funds not yet released are returned to the homeowner. Payments already made aren’t reversed by Renosafe.

Can Renosafe stop or change a payment?

Renosafe can’t change who is paid or how much. Payments follow the homeowner’s approval and the project terms.

Disputes and changes

What if we disagree about a milestone?

Either party can raise a dispute in the app. The milestone’s funds stay put until both parties agree, the person who raised it withdraws it, or an external body makes a binding decision.

Does Renosafe decide disputes?

No. We record the dispute and the outcome.

How are variations handled?

Scope changes are recorded as variations and must be signed off by both parties before they change a milestone amount.

Accounts, fees and data

What does it cost?

Free for homeowners. Contractors pay $50 per month per contractor business (extra team members $10 per month each), a 3% facilitation fee on each milestone payment, and a defects liability period administration fee.