Homeowner terms FAQ
Take a look through this FAQ to find more information on our offer for homeowners, including details of our revenue share structure and our Monthly Rentals offer. Your Account Manager will be happy to help if you have any further questions.
- How does the revenue share structure work?
- What is the guest service fee?
- How do I find out what I will earn in advance of the booking?
- Are prices fixed?
- What is the Monthly Rental offer and why did you launch it?
- How does this benefit me?
- Does this change my revenue share?
- When will I be paid?
- What are the guest cancellation terms?
- Are there any new cancellation terms I should be aware of?
- What are Flexible Cancellation Rates and how do they work?
- I still have questions.
1. How does the revenue share structure work?
The net guest payment (the total guest payment less the guest service fee, credit cards fees and any applicable taxes) is split 50/50 between you and onefinestay. Part of the total guest payment (2.4%) is paid in credit card fees, and any applicable taxes (including VAT on onefinestay’s share) are taken off the remaining amount, which is then shared equally between us.
How we'll share the total guest payment:
2. What is the guest service fee?
Guests will pay a fixed fee for every booking, regardless of length. This fee goes to onefinestay to pay for the servicing costs associated with each stay. Our guests will pay this fee in the form of a higher nightly rate for shorter stays, ensuring that the nightly rate you receive stays fairly consistent regardless of the length of each booking.
3. How do I find out what I will earn in advance of the booking?
You'll be able to see an estimate of the income you’ll receive (based on up-to-date pricing for the selected dates) on your calendar. We’ll also show you the exact amount you’ll receive on booking request and booking confirmation emails.
4. Are prices fixed?
Our prices are dynamic, regularly reviewed and changed as often as required to make the most of guest demand. Our focus is always on charging the right price for the right guest in the right home. You'll be able to see the current pricing level through your calendar.
5. What is the Monthly Rental offer and why did you launch it?
Our Monthly Rental offer is designed for stays from 30 nights to 180 nights. Over the last year, we have seen our average length of stay rise to 21 days, with the average booking value now over £10k. Whether our guests are working remotely or need a home during their own house renovations, whatever the reason for their extended stay, it's clear that our home-away-from-home environment and round-the-clock support is in demand. Our improved Monthly Rental offer, therefore, has been designed to entice guests to stay longer with incentives like savings, a break clause and the option to pay monthly.
6. How does this benefit me?
Accepting a longer stay means guaranteed income, as well as having the added security benefit of having someone living in your home, with us checking in each week.
7. Does this change my revenue share?
No. You will receive the same share of funds for longer stays as you do for shorter stays. For stays of 60+ nights, you are however guaranteed a two-month rental fee once the guest has checked in.
8. When will I be paid?
Payments will be made on a monthly basis, no later than the 15th of each month. You will be paid your license fee for stayed nights in the previous calendar month. For example, if a booking ran from the 15th of February to the 15th of March, nights stayed in February will be paid in the March statement, and nights stayed in March in the April statement.
9. What are the guest cancellation terms?
There are no changes to the cancellation policy for stays less than 60 nights. For stays of 60 nights or more, the existing cancellation terms apply with two major changes:
1. If the guest cancels before check-in, the cancellation policy only applies to the first 60 nights of their booking (nights beyond are fully refundable).
2. For stays over 60 nights, guests are required to pay the first 60 nights in advance of their stay. After the first 30 nights of stay, payments are made in 30 day increments. All stays require a minimum 30 day written notice of cancellation prior to the next billing date, or they will be automatically billed for the next 30 nights. The 30-night notice period is not refundable, but nights following this are fully refundable. You will receive no revenue from the fully refundable part of the booking.
For example, if a home is originally booked from March 1 to September 1, the guest would submit the first two months' payment up front, which is subject to the standard cancellation policy. Then, on April 1, the guest would either pay for the month of May, or choose to end their stay at the end of April. If they decide to end their stay at the end of April, the remainder of the original booking (May through Sept. 1) would be cancelled free of charge. This means you, the homeowner, would receive payment through the end of April -- but nothing further.
10. Are there any new cancellation terms I should be aware of?
No, you are not entitled to cancel a booking once a booking confirmation has been sent. If you do seek to terminate a confirmed booking, then you are liable for the cancellation fee and, if applicable, the incremental costs of alternative accommodation. Cancellation fees can be seen in the current guidance on homeowner charges, which is maintained online, here.
11. What are Flexible Cancellation Rates and how do they work?
When making a booking, guests can choose to pay an additional 10% of the total standard booking value to give them the flexibility to cancel up to 48 hours in advance of their booking, and still receive a full refund.
If the booking is cancelled within the allocated window, you will receive no funds for the booking. If the booking is cancelled less than 48 hours before the start of the stay, or goes ahead as planned, you would be paid a 50% share of that 10% fee, on top of your normal revenue share for the booking.
Flexible rates are only available for bookings in our London, New York, Los Angeles and Sydney homes. We ask our homeowners to approve a flexible rate being offered on each booking, before we confirm it for the guest.
12. I still have questions.
If you have any further questions, you can ask your Account Manager: