Guidance on Homeowner Charges: Cancellation and Compensation

1. Background

1.1 This guidance is issued by Lifealike Limited (trading as “onefinestay”) and all companies in the onefinestay group to assist homeowners of properties listed on the onefinestay website (Homeowner) to understand the charges that may be applicable to them

1.2 If this guidance conflicts with the terms and conditions for any of the jurisdictions where onefinestay or a onefinestay group company trades, then those terms and conditions will prevail.

1.3 This guidance will be used by onefinestay in any negotiation or mediation between Homeowners and Guests arising from a cancelled booking or for an issue arising relating to a property during a stay.

1.4 For the purposes of this guidance the following words shall have the following meanings:

Booking” means a confirmed booking for a stay made by a Guest at a property listed on the onefinestay website;

Licence Fee” means the net fee a Homeowner receives from a booking. The fee and/or revenue share will be set out in your Listing Particulars, Booking Confirmation or as otherwise agreed. The agreed commission rate payable to us will be deducted from the Licence Fee; and

Maintenance Charges” means any charge payable by a Homeowner to onefinestay relating to the maintenance of their property (pursuant to the relevant onefinestay terms and conditions for the Homeowner or otherwise).

2. Cancellations up to the start of a Booking

2.1 In accordance with our standard terms and conditions for homeowners in each city, if a Homeowner cancels a Booking, the Homeowner is liable for all of the costs of the cancellation including the incremental costs of alternative accommodation exceeding the original Booking of the Guest together with the Cancellation Fee.

2.2 These costs may include, but are not limited to:

- the cost of relocating a Guest at an alternative onefinestay property;

- the cost for relocating a Guest at alternative accommodation if there is no alternative onefinestay property available; and

- any administrative costs associated with the cancellation.

2.3 onefinestay will take such steps as are possible or necessary to mitigate the costs of managing a Homeowner cancellation and all costs and charges made to a Homeowner will be a reasonable assessment of the costs to onefinestay of managing a cancellation.

2.4 Inevitably, the earlier onefinestay is notified of a Homeowner cancellation, the easier it is to find alternative accommodation for a Guest and to mitigate the costs of a Homeowner cancellation. The minimum Cancellation Fee is as set out in the table below (together with any incremental costs of cancellation). The Homeowner remains responsible for any costs arising from a cancellation:

3. Charges relating to Property Issues

3.1 In accordance with our terms and conditions for Homeowner in each city and the accommodation agreement used by Homeowners and Guests, it is a Homeowners responsibility to make sure that the property is ready for a booked stay and in compliance with all Regulations as specified in the Homeowner Agreement.

3.2 If there is an issue with a Property that will affect a Booking (a “Property Issue”) including, but not limited to:

- a boiler breakdown;

- a bathroom or kitchen not functioning;

- a pest infestation; or

- construction work at the property or an adjacent property affecting the quality of the stay,

it may be necessary to cancel a Booking and relocate a Guest (an “Involuntary Homeowner Cancellation”) or reduce the cost of a Booking or pay compensation to the Guest for the Property Issue. In these circumstances you will be liable for the Cancellation Fee and if applicable the incremental costs of alternative accommodation exceeding the original Booking of the Guest.

3.3 onefinestay will determine if a Property Issue has arisen and:

- the severity of the Property Issue;

- if an Involuntary Homeowner Cancellation is necessary;

- if a reduction in the Booking Fee or compensation payable to the Guest is necessary; and

- the Homeowner’s respective liability for part or all of the compensation payable to the Guest,

using the table below as guidance for such decision as to the cause, remedy, level of compensation due and amount of compensation recoverable from the relevant Homeowner: