When a booking is cancelled, the refund process is initiated. If a payment has taken place offline (i.e. per invoice, bank transfer, or by cash) it is the responsibility of the landlord to issue the refund to the tenant. Only when payments have taken place online can Spacewise handle the refund.
The amount that the tenant is owed will depend on the cancelation policy for the listing. If a tenant cancels the booking, they must pay a 4% cancelation fee. If a landlord cancels a booking, they must pay the 4% cancelation fee. In rare cases where Spacewise cancels a booking, Spacewise bears the 4% cancelation fee. The 4% cancelation fee is deducted first, before the refund amount is issued.
E.g. A tenant cancels under a strict cancelation policy. For a $100 refund, $4 is deducted as a cancelation fee, making the total $96. Then, 50% of $96 will be refunded to the tenant.
Find more information about refunds. Find more information about cancelation policies. Find out how to cancel bookings.
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