Accepting the Renters Terms is a key step in the acceptance process. The host accepts the agreement when the booking request is approved. Once the host approves the booking request, then it's your turn.
The moment the acceptance process is completed, including the physical crediting of the money to the Coliving.com account, the Renters Terms become valid, and the host's contact details are displayed in Inbox. This enables you to arrange the handover of the coliving space directly with the host (not with Coliving.com).