Recurring payment or monthly rent collection means that Homelike collects all the rents instead of just the first one. With this feature, we make it even easier to rent out your property through Homelike.
In the past, this functionality was exclusively reserved for our largest corporate clients. However, we are delighted to announce that this exciting feature is now accessible to all our customers.
Once you activate recurring payments for your account, we will attempt to collect all monthly payments for you. On your dashboard, you can see a full breakdown of upcoming rent payments. This ensures you receive complete transparency regarding the status of rent collections and the scheduled transfer of funds to your account.
With recurring payments, our guests still have access to all our payment options, and they have the option to store payment information on their account in order to make rent payments completely hassle-free. All data storage and payments are done in a PCI DSS Certified environment.
How does this work?
- The guest pays the first rent upon booking
- Before the guest checks in, the deposit (if applicable) is due and transferred directly to you. If any other fees, such as cleaning, are required, these also need to be collected by you directly from the guest.
- 2 days after check-in, we release the first payout to you. The Homelike service fee will be deducted from your payout.
- From the second month onwards, payment reminders will be sent 7 days before the start of next month.
- The charge will be collected 3 days before the scheduled due date.
- Payout will happen 2 days before the start of next month, if the charge is successful.
Activating this feature will increase your Homelike service fee by 3%, This fee allows us to cover all payment costs, reminders and allows us to continuously improve this feature.
Please reach out to your Account Manager or to Landlords@thehomelike.com to activate this feature or to receive more information.
More information can be found in our Terms of Service under “12.4. Recurring Payments”.