Convini. Providing cashflow solutions for the real estate industry.
Below are some of the questions we often get asked. Didn’t find the answer you were looking for? Please let us know.
Who is Convini?
Convini is an Australian company providing cash flow solutions to the real estate industry.
Who does Convini work with?
Convini works with real estate agents to deliver its cash flow solutions to vendors and landlords. We integrate with their systems and processes to deliver a simple and efficient way of accessing funding.
Who are Convini’s customers?
Convini provides cashflow funding solutions to
- vendors wanting to access property styling and marketing for their property in preparation for sale;
- vendors, on the sale of their property, wanting to access their deposit early; and
- landlords wanting to make improvements to their investment properties to ensure they remain tenanted; and
- real estate agents or property managers wanting to provide the best possible service and support to vendors and investment property owners.
What products does Convini currently have available?
Convini’s Adfund product makes it possible for vendors to commit to and access property improvement and marketing services prior to their property going on the market and pay for these services later (typically from the proceeds of sale).
Convini’s PropPay product is used by landlords who have tenanted investment properties and need to pay for general expenses or make improvements to the property but would rather pay for these from their monthly rental income.
Convini’s DepositPay is used by vendors who want to receive an early release of their deposit, on the successful sale of their property.
How does Convini get paid?
Convini charges a fee on the amount we fund. For Adfund and PropPay, we charge a flat fee of 6%. For DepositPay, we charge a flat fee of $750 or 3%, whichever is greater.
Is there a maximum amount Convini will fund?
- For Adfund, Convini will fund up to 2% of the expected sale price of the property.
- For PropPay, we will fund a minimum of $750 and a maximum of $25,000.
- For DepositPay, we will fund a minimum of $25,000 and a maximum of $250,000.
What happens to my AdFund amount owing if I had my property on the market, but I withdraw it from sale or it doesn’t sell?
If a vendor decides to withdraw a property from sale the advertising and styling costs payable to Convini must be paid at the earlier of the withdrawal date or the Pay Later Date.
What sort of services could I use Adfund for?
Adfund can be used for property improvements and marketing, including the following:
- Advertising including online, print and brochures & print
- Cosmetic home improvements including painting, gardening and electrics
- Property styling
- Conveyancer fees
What sort of services could I use PropPay for?
PropPay can be used for the following:
- Property improvements and maintenance
- White goods, air conditioners etc.
- Regulatory changes such as pool fences etc.
- Insurance, council rates and strata fees.
What sort of services could I use DepositPay for?
DepositPay can be used by vendors to receive an early release of the deposit, on the successful sale of their property.