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 cancellation policy for the listing. If a tenant cancels the booking, they must pay a 5% cancelation fee. If a landlord cancels a booking, they must pay the 5% cancellation fee. In rare cases where Spacewise cancels a booking, Spacewise bears the 5% cancellation fee. The 5% cancellation fee is deducted first, before the refund amount is issued.
E.g. A tenant cancels under a strict cancellation policy. For a $100 refund, $5 is deducted as a cancellation fee, making the total $95. Then, 50% of $95 will be refunded to the tenant.
Find more information about refunds. Find more information about cancellation policies. Find out how to cancel bookings.
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