9. Payment and Refund Policy
9.1 For Renters
9.1.1. Payment Policy
Reservation Fees: Renters are charged the agreed-upon rental fee when the reservation is confirmed. This fee covers the first month’s storage unless otherwise specified.
Recurring Payments: For ongoing reservations, recurring payments are automatically charged monthly until the reservation is ended through the SpaceMate app or website.
Payment Method: Payments are securely processed through Stripe, and renters can use major credit or debit cards.
9.1.2. Refund & Cancellation Policy
- If you cancel within 24 hours of approval and at least 24 hours before the start date: 100% of the total fees (excluding the service fee) will be refunded.
- If you cancel 14 days or more before the start date: 100% of the total fees (excluding the service fee) will be refunded.
- If you cancel 13 to 7 days before the start date: You will receive a 50% refund (excluding the service fee).
- No refund will be issued for cancellations made 6 days or less before the start date.
9.1.3. Host Cancellation
- If the Host cancels a booking before the Renter stores their items: The renter will receive a full refund.
- If the Host cancels a booking with less than 30 days’ notice: The renter will receive a full refund (minus service fees) for that month and if there are any remaining months.
9.1.4. Ending Your Reservation
To stop recurring payments, you must officially end your reservation through the SpaceMate app or website. Once ended, no further charges will be made.
9.1.5. Dispute Resolution
Issues with Payment or Refunds: For any disputes regarding payments or refunds, contact SpaceMate support within 48 hours. We will investigate and resolve the issue as quickly as possible.
9.1.6. Policy Updates
Changes: SpaceMate reserves the right to update this policy. Renters will be notified of any changes via the app or website.
9.2 For Hosts
9.2.1. Payment Policy
Payouts: SpaceMate holds the reservation payment until the reservation period is complete on a monthly basis. If the host cancels midway through the reservation, the payment will be refunded to the renter, and the host will receive payment only for the time the space was used. Payouts are processed through Stripe directly to your payment preference.
9.2.2. Refund & Cancellation Policy
- If you need to cancel a booking before the renter stores their items: The renter will receive a full refund.
- If you want to cancel after the renter has stored items: You must provide the renter with at least 30 days’ notice.
- If you cancel with less than 30 days’ notice: The renter will receive a full refund (minus service fees) for the month that was cancelled. Any remaining months of the reservation will be automatically cancelled without penalty, and you may be charged a $50 termination fee.
- Early Termination by Renters: If a renter ends their reservation early, recurring payments will cease on the day the reservation is officially ended through the SpaceMate app or website. Renters pay the rental fee on a monthly basis, and if the reservation is cancelled partway through a paid month (e.g., two weeks in), no refund will be issued to the renter for the unused portion of that month. The host will receive the full payment for the current month.
Future recurring payments will not be charged once the cancellation is processed, and no further charges will occur beyond the month in which the cancellation took place.
9.2.3. Cancellations by Renters:
- If a renter cancels 14 days or more before the start date, no payout will be issued for that reservation.
- If a renter cancels within 24 hours of reservation approval and at least 24 hours before the start date, no payout will be issued for that reservation.
- If the renter cancels 13 to 7 days before the start date, a 50% payout will be issued for that reservation.
- If the renter cancels 6 days or less before the start date, you will receive payment for the first month.
9.2.4. Dispute Resolution
Disputes: Any disputes related to payments or refunds should be reported to SpaceMate support within 48 hours. We will review and assist in resolving the issue fairly.
9.2.5. Policy Updates
Changes: SpaceMate reserves the right to update this policy. Hosts will be notified of any changes in advance through the SpaceMate app or website.