Do You Have Control On How & When You Are Paid?
One of the major reasons for listing your property or space on a rental platform is to earn income. Your ability to have control of when and how you get paid is paramount. When we reviewed how some of the others are providing this service for hosts we found the process to be very ridged and hosts had little control on how and when they were paid. Signing up to a service provider to list your property or space for rent also requires you to sign up to their payment terms.
What are some of the conditions -:
• When you add a Payment Method or Payout Method, you will be asked to provide billing information such as name, billing address, your residential address, name on the account, account type, routing number, account number, email address, payout currency, and account information associated with a particular payment processor.
• The provider may also authorize your Payment Method for one or two additional nominal amounts, and ask you to confirm these amounts, or require you to upload a billing statement.
• The service provider may involve the use of third-party payment service providers. These service providers may charge you additional fees when processing payments and Payouts in connection with the Payment Services. Your may also be subject to additional terms and conditions imposed by the applicable third-party payment service provider.
• You authorize the service provider to store your Payment Method.
Financial Terms for Hosts -:
• Payments will collect the Total Fees from a Guest at the time the Guest’s booking request is accepted by the host, or at any other time mutually agreed between the Guest and the service provider.
• In order to receive payment you must have a payment method linked to your Account.
• Service providers vary on how they pay you. Some offer within 24 hours of the Guest’s scheduled check-in time for all other Host Services at the time specified via the Platform.
• Your Payout for a booking will be the Listing Fee less applicable Host Fees and Taxes.
• In the event of a Guest’s cancellation of a confirmed booking, the service provider may remit any portion of the total fees due to you under their applicable cancellation policy.
At AirRentalz, we are making it easier and more flexible for hosts. We offer the option to use our collection option and charge you a service fee of 1% but also allow you to confirm your payment terms with your guests. Once we receive their money your payment will be processed within 1 business day.
The other option is work directly with your guest and have them pay you directly by credit card, direct deposit or Paypal. The choice is yours, pay for the convenience or pocket the savings.
One practice adopted has been to ask the guest to pay a 50% deposit to confirm the booking. The balance is paid 7 days prior to the guest arriving. At this point the address is released. This ensures both parties have confirmed details and any changes can be managed in time. AirRentalz is making it easier and more affordable for hosts and guests.
Get started today and list your place or space with AirRentalz.