Insure Your Investment with Transparent Pricing
At Trusted Deposits, we believe in providing a secure and reliable way for homeowners and contractors to manage renovation deposits, while ensuring your investment is protected. Our transparent pricing structure ensures that you know exactly what to expect, with no hidden fees.
Service Fee
We charge a 2.5% service fee on the total project deposit amount. This fee covers the secure collection, management, and disbursement of funds between the client and contractor. Please note that the Trusted Deposits fee is non-refundable.
How it Works
Projects
Between $0 - $10,000
Homeowner Payment
-
Homeowner pays 100% of the Contractor’s fixed project cost + 2.5% Trusted Deposits Service Fee on the total project cost upfront to Trusted Deposits to secure the project.
Deposit Release Schedule
-
50% of the deposit is released to the contractor on the mutually agreed start date.
-
The remaining 50% is released to the contractor upon the mutually agreed project completion date.
Projects
Above $10,000
Homeowner Payment
-
Homeowner pays 50% of the Contractor’s fixed project cost + 2.5% Trusted Deposits Service Fee on the total project cost upfront to Trusted Deposits to secure the project.
Deposit Release Schedule
Agreed Start Date
-
Homeowner pays an additional 25% of the project cost (75% of total project price is paid).
-
- Both the homeowner and contractor confirm the project has started.
-
- The first 25% deposit is released to the contractor.
-
- At this stage, the homeowner has paid 75% of the project, and 25% has been released to the contractor.
At 50% Project Milestone
-
Both the homeowner and contractor confirm the project is on track.
-
Client pays the remaining 25% of the project cost (100% of total project price is paid).
-
The second 25% deposit is released to the contractor.
-
At this stage, the homeowner has paid 100% of the total project, and 50% of the total project cost has been released to the contractor.
At Project Completion
-
The remaining 50% is released to the contractor upon the mutually agreed project completion date.