You need to maintain accurate information that reflects what your home(s) provide(s) and what is not included/available.
We are not responsible for any loss of money or cancellations based on lack of or incorrect information you provide in your listing(s).
Each resident is registered and has gone through our onboarding-process, where they provide detailed information about themselves.
We ask them to send us verifiable information so as to ensure that they are trustworthy and reliable.
You need to Accept or Decline the Booking Request within 24 hours (or 48 hours during weekends) of it being sent to your email. Please regularly check your Inbox and please notify us of any change to your contact details.
If you wait longer than 24 hours (or 48 hours in weekends), the request will no longer be valid and the user is then free to book another home.
Once you Accept the Booking Request, Coliving.com collects payment from the resident and, from this, receives its commission based on the subtotal of the reservation value.
Coliving.com is responsible for collecting the first month's rent + security deposit (if required by you). If the resident has booked more than 30 days, you must collect the existing payments following your own payment plans.
If you cancel the booking after the resident has arrived, you are responsible for reimbursing the resident directly.
We charge hosts a service fee on confirmed bookings.
The service fee is calculated using a variety of factors including, but not limited to, the reservation subtotal, the length of the reservation, and is between 5% and 10%.
Our payment collector's fee is 2.9% + 30 cents (or 3.9% + 30 cents for NON US cards) of the transaction-value and will be subtracted before payout is sent to your bank account. Our payout provider charge US $2.5 or $5, depending on the country of your bank account, and will be subtracted before payment is credited to your bank account.
We will continue to research and work with various payment providers to lower the cost and give you more options in the future.
24 hours after the resident has checked in, as long as they have not filed a dispute, we will credit the payment to your account.
You will get notified each time a payment is sent to your wallet.
You may then take a payout when it suits you. Your bank details need to be provided before a payout can be sent to you - this can be done at any time when you are logged in to your company account.
Right to Rent
To be able to collect payment through Coliving.com, you need to have the Right to Rent any and all properties and/or be the rightful Owner or Property Manager of the properties. This is solely your responsibility.
You need to offer the same price on Coliving.com as you offer on your own website and in your marketing. It is up to you to adjust prices on Coliving.com within 24 hours should you make any changes in your own marketing.
Prices on Coliving.com should include all the necessary amenities and access to all facilities. If this is not the case, it should be clearly described in the Description and Booking Rules when you add your listing.
Coliving.com can collect a Security Deposit on your behalf and for your convenience.
We will obtain this Security Deposit along with the first payment from the resident, and it will be paid out to you 24 hours after the resident has moved in.
A bank transaction fee of about 3% (same as for rent) will be withdrawn before payout, but we do not add any service fee on Security Deposits.
It's up to you to make an agreement with the resident for refunding their Security Deposit once they have moved out.
Please note that if you wish us to collect the Security Deposit, we will not negotiate on your behalf if you need to use the Security Deposit for any circumstances. This would be between you and the resident.
As a host you are solely responsible for reporting, collecting, remitting or including in your room/bed prices any applicable VAT or other indirect sales taxes, occupancy tax, tourist or other visitor taxes or income taxes.
Coliving.com is not responsible for collecting, keeping or paying any taxes that you as a host are responsible for.
Coliving.com does not offer any guarantees/insurance for damages that may happen.
After looking at different models, offering insurance would mean a significant increase in the overall costs for residents.
We also came to the conclusion that thankfully damages happen much more seldom than normal rental situations, as coliving homes are run by professionals for professionals, thereby minimising the chances of theft and property damage.
We also see that it's easy to assign blame when renting out a single apartment/room to one person, but harder when there is a group and something happened for example in the kitchen. Therefore we recommend that all hosts acquire their own insurance covering the property as a whole.