Kolmeo

Kolmeo FAQ's

Who is Kolmeo?

Kolmeo is the new property management software system that Nelson Alexander has partnered with. Kolmeo was previously called Agentplus, a Melbourne based business that has been operating for 15 years serving real estate agencies all over Australia and processes more than $1 billion in rent every year. They have recently changed their name as part of their evolution.

What does a move to this new system mean for me?

Nothing, unless you want it to. Nelson Alexander has chosen Kolmeo to partner with to drive more efficiencies, better communication and an all-around better experience for its customers.

Why are there new Terms and Conditions to sign and agree to?

Kolmeo is a cloud-based software solution and instead of using a trust account to receive and transfer funds, it uses a payment gateway, Zai (formerly known as Assembly), to facilitate payments. There are a large number of benefits and more software providers in our industry will migrate to this solution in time. Zai operates much like a bank service and as such there are some additional terms around the collection and distribution of funds.

For further information on Kolmeo’s privacy policy, please see: https://kolmeo.com/privacy-policy/
For further information on Kolmeo's Terms of use, please see: Kolmeo Customer Terms of Use

What about my personal information?

Kolmeo is not able to use your data for any purposes other than what we determine and how we use your data is unchanged. We do need to store your data in Kolmeo, please watch the video below for more information. Rest assured your data is secure and only used in a manner you would expect – to facilitate the successful management of your properties.

What are some of the key benefits of Kolmeo?

Kolmeo is a next-generation property management system. It offers better security for our clients, increased mobility for our teams, more transparent and effective communication and importantly greater flexibility around payment solutions.

Why are we moving from preferring BPay to Direct Debit for the collection of rent?

Nelson Alexander has been using DEFT, a Macquarie bank solution for the facilitation of rent where the default option has been BPay. The preferred and default option with Kolmeo is Direct Debit and this has the added advantage of a renter being able to set and forget and helps to stop any tenancy going into arrears.

What are some of the flexibilities you can offer around payment solutions?

Kolmeo uses Zai to collect and distribute funds. Zai has the ability to transfer funds the moment they are cleared. For example, a renter could have their account debited today and as soon as the funds are cleared they are credited that same day to the rental provider. This results in faster distribution of rent to a rental provider. Of course, this might not suit everyone and your rent can still be collected and distributed as it has previously been done. In the future, you will be able to load a credit card into Kolmeo and instead of choosing to pay your bills from rent or your bank account, you can choose to use a credit card and enjoy the benefits that may offer.

I’m used to receiving my rent monthly, what information can you provide to give me comfort that immediate payments are a good thing?

• Better cash flow: Rental income is in your account as soon as the tenant payment clears. And, if your account is an offset account, it'll work towards your mortgage account.
• Invoices can still be paid from your rental income: No need to worry about missing invoices payments. With your approval, we'll pay them first and pay you the balance.
• Comprehensive statements or access to your transactions (should you wish): You'll always receive a monthly statement with a summary of all transactions into your account and, in time, we will be bringing you an app that will give you instant visibility of what transactions have been paid to you as they happen.

I own multiple properties; do I need to sign up to multiple Terms and Conditions for each property or just sign up once per bank account?

You only need to agree to one set of Terms and Conditions but if you have a different bank account for any of the properties, you will need to complete a separate direct debit authority per bank account.