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Frequently asked questions

Most commonly asked questions by investment property owners and contractors

Renozee™ was built to enable both real estate investors and independent contractors to achieve the common goal of having a successful investment property renovation. In support of this common goal, we’ve created Renozee™, a mobile app that allows investors to post renovation projects and contractors to bid directly on those projects in real time.

Winning work is crucial to building a thriving independent contracting business for home renovation projects. Today’s independent contractors must find every opportunity to maximize their time and resources.
One of the best ways to do this is to utilize Renozee™. Some of the benefits of Renozee include:

  • A more streamlined bidding process
  • Helps to provide more competitive bids that are more likely to win. All competitors' bids and profiles are visible to you (no sealed or hidden bids) so you can adjust your bid.
  • Helps to foster new relationships with real estate investors that lead to repeat business
  • Track bidding communication and information all in one place
  • Helps you to follow up on bid communication quickly
  • Increases customer transparency
  • No lead or monthly subscription fees of any kind

Renozee™ is free to sign up, create a profile, select projects you are interested in, upload a portfolio, receive project notifications, discuss project details with customers, and bid on projects. If you are awarded the project and you accept, we deduct a small 10% commission from the total bid amount paid out to you.
We only make money if you win the job and complete the work. If the customer subsequently pays more than the original bid amount, we will also charge the project fee on any overage payments.

Payments made out to contractors are based on milestone payments. After a customer accepts your bid, you will be required to setup at least 1 milestone task. The customer will then be prompted to make the milestone payment which will be transferred to escrow. For example, a bathroom renovation project, demolition is typically the first milestone.
For every milestone that is completed, the customer confirms and then releases those funds into your account. If there are other milestone tasks setup for the project, the customer will then be prompted to make the next milestone payment which will be transferred to escrow.

The first transaction takes approximately 7 business days and approximately 2-3 business days after that. Our goal is to continue to work on shortening the payout times.

We use your bank account information to submit customer payments to you.

When a customer accepts a bid, they will be prompted to make a payment. The funds are transferred to escrow. When the contractor successfully completes a milestone, and the customer confirms, the funds are released and disbursed into the contractors account.

In some cases, a site visit may be necessary, just be sure that the customer payments are received through the milestone payment system setup on the platform. The milestone payment system was established to protect the contractor as well as the customer. Completing the financial transaction off the platform will result in your account automatically being flagged and terminated.

Don't give up, persistence is key. You may not win the job on your first bid submittal. Renozee™ makes it easy for you to re-enter your bid and submit a more competitive one. Renozee™ also on how to bid remodeling jobs.

Build a winning profile. Along with your bid, customers will view your profile. Ensure that license and insurance information are up to date, add quality photos of your past jobs, get reviews, and update every new skill that you obtain. Lastly, provide high quality bids that are detailed which include items like labor and materials.

If this happens, you may log back into Renozee™ and request a revision to the milestone payment amount. If you choose not to take on the project before the project starts and in good faith, you will receive no negative feedback.

Renozee™ was built to enable both real estate investors and independent contractors to achieve the common goal of having a successful investment property renovation. In support of this common goal, we’ve created Renozee™, a mobile app that allows investors to post renovation projects and contractors to bid directly on those projects in real time.

It doesn't matter whether you are a new investor or a savvy veteran; one of the biggest challenges of real estate investing can be finding qualified contractors to collect bids from as well as managing contractor payment disbursements. Since repairs and renovations are an inevitable part of actively investing in real estate, it's important to know how to best manage finding the right contractors to ensure your projects are completed on time and on budget. That’s where Renozee™ fits in. Renozee™ saves you time by obtaining bids from qualified contractors and helps you to stay on budget by providing you with multiple bids, often at discounted prices.

Renozee™ enables independent contractors to compete against each other and the price tends to drop down. As a customer, you have the ability to post a job and select any of the bids of your choosing. You are never required to go with the lowest bid and additional details are provided from the contractor’s in addition to their total bid price submittal. This approach allows you to select the best overall value versus simply selecting the lowest bid amount.

You are not obliged to choose a contractor if you’re not confident in any of the provided bids and contractor profiles.

Renozee™ is free to sign up, post a project, receive bids from contractors, review the contractor's portfolio and discuss the project requirements with the contractor. All Projects are free to post and there is no commitment. You just post your project and view live bids as contractors compete to win your business.
If you choose to award the project and the contractor accepts and completes a project milestone task, you will confirm that the work has been completed and release the milestone payment to the contractor. We receive a small commission from contractors on any renovation job awarded to them which is deducted from the total bid price during their first payment payout disbursement.

Your renovation projects are organized into simple steps called Milestones which allows you to view your project with clear timelines. At the time of ordering a service, you must provide funds equivalent to the total milestone service price. The payment is protected by the Renozee™ Milestone Payment System and are held in an escrow. Milestone payments are released to the contractor once you’re pleased and approve the work you get. It ensures that you will never be charged for work that was not completed to your satisfaction and doesn’t allow payments to get ahead of the completed work. After each Milestone (phase) of the renovation, you will receive a notification to confirm or reject that the work has been completed. Once you approve, the milestone payment will then be released to the contractor.

Renozee™ contractors are independent contractors and each contractor submits their own bid price and manages their own business. Each contractor is responsible for obtaining work permits, licensing, and insurance. We recommend that real estate investors verify this information if necessary, prior to hiring.

Ratings & Reviews are perhaps the most important service we offer to our users to assist with vetting contractors. Additionally, Renozee™ allows contractors to upload license and insurance information. We recommend that you verify licensing and insurance before work begins.

After you’ve awarded the project to a contractor and have accepted the milestone payment arrangements setup by the contractor, the contact details of both you and contractor will be made available to each other so service can be arranged immediately. Only the contractor you choose will ever get your contact information.

If you are not happy with how the project is going, you can always ask the contractor for revisions.

It’s ok if a contractor wants to come out to see the project in person. For your protection, just be sure you go through Renozee™s milestone payment process so that payments are disbursed only when certain task have been completed.

If you pay the contractor off the platform, you lose the protection of milestone payment arrangements. Your account will become automatically flagged and your account terminated.

Yes, and we highly encourage it. Contractors appreciate feedback and positive feedback helps them to obtain more jobs. Reviews also help to keep the Renozee™ community informed of the great many contractors on the platform.

A. Funds held in escrow are always 100% refundable.
B. Funds that are released from escrow as payment to contractors are non-refundable.
C. Down payments paid to contractors for materials and labor to get the job started are non-refundable

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