How it Works – Hosts
When a host first comes to the LodgeSmarter platform they are required to create a LodgeSmarter account as well as a stripe account in order to facilitate payments from guests to host. Once an account is created LodgeSmarter has to verify that you are the legitimate owner or property manager of the property in order to avoid fraud. We require Government Identification which can be either of the following: drivers license, passport, SIN. In order to verify the property we also require documentation that has the address of the vacation property as well as the owners name on it. This can be a utility bill payment or the purchase agreement from when the house was bought.
Once your account is all setup you are now ready to list your property! To list your property you go to our marketplace platform and select “post a listing” at the top of the homepage. From this point you simply follow the instructions and fill out all the required basic information, write a description of your property including any info you may think guests will find valuable as well as any house rules you may have. Be sure to upload high quality photos as this will have a direct impact on your occupancy rates. We recommend being reasonable with the percentage you knock off to get your property booked fast. If you have vacant days coming up within 2 weeks’ time we recommend a discount rate of at least 30%-40%. If your vacant days are 4 weeks away you can be more modest and knock off 15%-25%. We recommend playing around and testing the waters with your discount rates until you find your sweet spot that people are willing to pay for your property.
Cancellations/ Damage Deposit
You (the host) selects the cancellation fee; if you select 30% as the cancellation fee, and the guests cancels this means they will be reimburse 70% of what they paid and you will keep the 30%.
When a guests creates a stripe account their payment info is stored and under our terms and conditions we are able to charge their accounts for the damage deposit amount if a host opens a damage claim and is able to provide evidence that the guest caused the damage. (We recommend photos of the place before and after the specific guest check-out). Once the claim is evaluated and we see the guest caused damage to your property we charge the guests stripe account and transfer the money to the host. Please keep in mind under our terms, the claim has to be made within 2 weeks of the specific guests check – out or before you have any other guests stay in that property.
LodgeSmarter is free for hosts to list their property. However once a host gets a booking there is a process to get the money from the guest over to the host. This is all done through Stripe and the host will be responsible to cover a small fee of 2.9% + $0.30 per transaction. For example if a host gets a week booked for $1,000. $1,000 x 2.9% = $29.00 + $0.30 = $29.30. The host will have $970.70 deposited into their account instead of the initial $1,000.
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