What happens to my money when I use grove?
Grove essentially collects your rent payments on your behalf, just like a traditional property manager would. You can read more about how Grove works here.
We don't ever touch your bank accounts or ask for your banking credentials. We simply collect the money and pass it on to you. We also don't deduct any money from your rental income.
The way Grove works is entirely digital. It's almost instant. No staff member has access to, or touches your money when we collect it. We do have read-only visibility of payments for monitoring purposes, but our collection engine does the sorting and payout work.
We currently use TransferWise for Business as our payment processor. TransferWise operates as a foreign entity and is supervised by the Department of Internal Affairs (DIA).
Do you use trust accounts?
We do not currently use trust accounts, but process collected rent payments through an entirely different business account, that is separate from our general operating expense and revenue accounts.
We are currently investigating the possibility of implementing individual trust accounts for each user.
Who are the people behind Grove?
We are a team of highly skilled people based in Wellington, with experience operating in environments requiring a high level of responsibility and accountability.
Members on our team have managed large-scale projects at various New Zealand Government departments, led international product teams for Xero, managed brand marketing for Plunket New Zealand, and so much more.
You can read more about us, and our mission over at groverent.com/about. We're also a super friendly bunch, so feel free to reach out with any questions or concerns you may have.
Are you a registered company?
Sure are! Grove is a trading name for Proper Technology Limited. We are registered with the New Zealand Companies Office, and you can view our NZBN information here.