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Receiving OD booking payments
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Sam V



Joined: 20 Nov 2009
Posts: 1625
Location: Villa in Gale, Algarve, Portugal. At home in Fetcham, Surrey, UK

PostPosted: Tue Aug 23, 2016 4:27 pm    Post subject: Receiving OD booking payments Reply with quote

I know on another post this has been discussed, I had mentioned that despite having an OD subscription I've not been receiving payment for bookings until after guest check in, when I was under the impression I would get the payment when the guest paid. I was advised to get in touch with Yapstone and find out if I've been incorrectly set up.

Only yesterday did I realise I'd received a reply from Zachery at Yapstone, seems they are also 'Vacationrentpayment'

This is his reply:

Do you have the listing number for your property? Usually for payments done through ODVR we set them up in our main platform, which we do not have set up with check in payments. But if ODVR is using Homeaway Payments, the property could very well be on check in payments, in which case, we can potentially set that up to be instant payments. Also, I would recommend contacting ODVR as well to make sure that they know about this issue as well. As it stands, we likely set it up as requested by ODVR.

I sent my property number, he replied:

I can confirm that the listing is set up for online payments and for check in payments. I'd check with Owners direct still to see what their qualifications are for moving to advanced payments. Unfortunately, my team doesn't work in the international platform, so I'll have to send you to our international team for further assistance at a high priority. I'll preface them with the situation and hopefully they can assist you from there.

He did just that and today I've had this reply from Jana:

Thank you for contacting Holiday Rent Payment.

Currently your property listing (#8048391) is approved for check-in payments where you get your money disbursed to your bank account 1-2 days after the guest checks in. The reason why we automatically approved your listing on check-in payments was due to yourself being a customer of Home Away for few years.

We may be in the position to upgrade your payments to advanced payments. This payment process takes an average of 5-7 working days after a guest has entered his credit card details online, regardless of the arrival date.

To go into a bit more detail, as a homeowner, you should receive a payment confirmation from Home Away as soon as a guest has paid for a reservation.
When the funds have cleared, you should receive an email from HolidayRentPayment, entitled “Deposit Statement”. Upon receipt of this email it usually takes 2-3 working days for this transaction to show on your bank account.

To do so, we require the following:

1) A recent utility bill for your rental property, in your name

If you wish to upgrade your property to advanced payments and get the payments disbursed to your bank today, please reply to this email with an attachment of your requested document and I will email you when your account has been upgraded.


So, looks like I have to follow yet more instructions. FYI I've had my OD subscription account since 2009, HA since 2011, I changed to commission at my last renewal.
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Hells Bells



Joined: 30 Apr 2005
Posts: 13142
Location: French Alps

PostPosted: Tue Aug 23, 2016 6:48 pm    Post subject: Reply with quote

I have had a similar problem with HA. I set up the account with Yapstone in 2012 or 2013, and provided all the documents they have asked for at the time in order to receive instant payment. had 2 bookings and was paid instantly (or within the week) . Due to a more recent lack of bookings I switched to commission listing in 2015 but a recent booking was a check-in payment I was not to receive for 8 months. So the goalposts had moved without me bing informed.
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kevsboredagain



Joined: 20 Jan 2007
Posts: 3209
Location: France

PostPosted: Tue Aug 23, 2016 6:53 pm    Post subject: Reply with quote

No one ever seems to look at things from the point of view of the guest. The sole reason we received the money XX days in advance was due to our cancellation policies. Now, if some 3rd party is handling the payment, then why should the owner actually have this money in their personal account XX days in advance, as long as the cancellation policy is still binding? Only a promise of services has been provided and holding funds in the middle protects against fraudulant advertisers. This protection benefits everyone who advertises on that site.

I'm sure the guest would be much more comfortable knowing the money was NOT with the owner before any service had been provided. Simply because we are used to having the money upfront, does not mean it is the fairest way of doing things.

In terms of cash flow, I've actually found it has helped cash flow as it has spread out payments more evenly through the season. Some payments are recieved in advance and some at check in.

We need to stop clinging onto to the things we are used to simply because we don't want change.
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Casscat



Joined: 05 Jul 2014
Posts: 2662
Location: Andalucía

PostPosted: Tue Aug 23, 2016 7:12 pm    Post subject: Reply with quote

I really don't understand this Sam. I list with OD and HA (for now anyway!) but have only done so since summer 2014 when I bought my finca. I added online payments (via Yapstone) reluctantly about four months ago and have only had one booking made on that basis since then - everyone else having been happy to continue to pay me direct. I am a subscription lister. Even though this was the first ever online payment I received the client's deposit about five working days after payment and ditto to their balance payment. They do not arrive for nearly four weeks but their full payment has been banked by yours truly. I would NOT wish to welcome guests to my property where I had not received payment in advance even with the *reassurance* that OD/HA were holding the funds in escrow.
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Hells Bells



Joined: 30 Apr 2005
Posts: 13142
Location: French Alps

PostPosted: Tue Aug 23, 2016 7:19 pm    Post subject: Reply with quote

Kev, when I added instant booking to my HA listing, I didn't sign up for payment on check-in, I signed up for payment on booking. I had to prove I had a property at that address by sending a recent utility bill, and I had to prove my identity by sending a copy of my passport. When I accepted the booking, it was on the understanding that payment would be immediate. Indeed it appeared in my dashboard that I would be paid the following week, but sometime in the next few days that was altered to payment after arrival.
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COYS



Joined: 06 Jun 2015
Posts: 746
Location: Greek Islands

PostPosted: Tue Aug 23, 2016 7:24 pm    Post subject: Reply with quote

Casscat wrote:
I would NOT wish to welcome guests to my property where I had not received payment in advance even with the *reassurance* that OD/HA were holding the funds in escrow.

Ditto
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kevsboredagain



Joined: 20 Jan 2007
Posts: 3209
Location: France

PostPosted: Tue Aug 23, 2016 7:34 pm    Post subject: Reply with quote

COYS wrote:
Casscat wrote:
I would NOT wish to welcome guests to my property where I had not received payment in advance even with the *reassurance* that OD/HA were holding the funds in escrow.

Ditto


So you don't care that very occasionally a guest will get scammed and the property doesn't exist, which then lowers the reputation of the listing site and effect us all? Why do you think OD is has gone downhill in the last year or so? It's not "the new website" it's all the bad publicity about scams and non existent properties.

People just keep complaining but don't want to make any changes to improve the situation.
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newtimber



Joined: 24 Nov 2012
Posts: 1589
Location: Brighton

PostPosted: Tue Aug 23, 2016 7:43 pm    Post subject: Reply with quote

kevsboredagain wrote:
No one ever seems to look at things from the point of view of the guest. The sole reason we received the money XX days in advance was due to our cancellation policies. Now, if some 3rd party is handling the payment, then why should the owner actually have this money in their personal account XX days in advance, as long as the cancellation policy is still binding?


Because unfortunately if you are VAT registered you have to pay the VAT on the income to HMRC in the tax period the agent receives it - not when they pass it on to you.
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AndrewH



Joined: 12 Sep 2013
Posts: 1294
Location: Kefalonia, Greece

PostPosted: Tue Aug 23, 2016 7:51 pm    Post subject: Reply with quote

COYS wrote:
Casscat wrote:
I would NOT wish to welcome guests to my property where I had not received payment in advance even with the *reassurance* that OD/HA were holding the funds in escrow.

Ditto

No Yapstones/HolidayRentPayment don't hold the funds in escrow, as stated in their terms and as someone on here, with an eagle eye, pointed out a few weeks ago.

Don't imagine that all this money is safely held in trust.
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Hells Bells



Joined: 30 Apr 2005
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Location: French Alps

PostPosted: Tue Aug 23, 2016 7:51 pm    Post subject: Reply with quote

So if I am VAT registered and take a booking from HA for next April, I have to pay the VAT due at the time of my next VAT return, not in April when I receive the payment. What is fair in that?
All that should be required is provision of proof (utility bill, passport, mortgage statement, or whatever else they require to pay us). I have already provided that, and received payments on that basis. To change the goalposts without even informing me after I had expected from my dashboard to receive it is unacceptable.
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Hells Bells



Joined: 30 Apr 2005
Posts: 13142
Location: French Alps

PostPosted: Tue Aug 23, 2016 7:56 pm    Post subject: Reply with quote

How do I check in HA what payment schedule I am supposed to be on? I've been right through the menus, but can't find it anywhere.
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COYS



Joined: 06 Jun 2015
Posts: 746
Location: Greek Islands

PostPosted: Tue Aug 23, 2016 8:05 pm    Post subject: Reply with quote

kevsboredagain wrote:
COYS wrote:
Casscat wrote:
I would NOT wish to welcome guests to my property where I had not received payment in advance even with the *reassurance* that OD/HA were holding the funds in escrow.

Ditto


So you don't care that very occasionally a guest will get scammed and the property doesn't exist, which then lowers the reputation of the listing site and effect us all? Why do you think OD is has gone downhill in the last year or so? It's not "the new website" it's all the bad publicity about scams and non existent properties.

People just keep complaining but don't want to make any changes to improve the situation.


You are entitled to your opinion Kev, but that's all it is. An opinion.
You, I or anyone else has no definitive answer as to ODs demise for many owners but 'scams & non existent properties' are a very small drop in the ocean & in my opinion just a convenient excuse for leverage to control of properties & finances in which they have invested nothing.
Advertising, refurbishment/improvement, maintenance, utilities, taxes etc are a fact of life for many & small business has & always will require cash flow to develop.
HA hold monies for their own gain, not as a thinly veiled protective measure. Just my opinion Wink
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COYS



Joined: 06 Jun 2015
Posts: 746
Location: Greek Islands

PostPosted: Tue Aug 23, 2016 8:18 pm    Post subject: Reply with quote

HelenB wrote:
So if I am VAT registered and take a booking from HA for next April, I have to pay the VAT due at the time of my next VAT return, not in April when I receive the payment. What is fair in that?
All that should be required is provision of proof (utility bill, passport, mortgage statement, or whatever else they require to pay us). I have already provided that, and received payments on that basis. To change the goalposts without even informing me after I had expected from my dashboard to receive it is unacceptable.

I don't think 'fair' is part of the HA algorithm/master plan HelenB.
Although personally not liable to collect VAT on rentals, we are however required to submit our annual guest list for taxation on a sliding scale in advance of arrivals. Due only to the painfully slow machine that is Greek bureaucracy we could effectively be required to pay taxes on monies we are yet to or may never (cancellations) receive.
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Last edited by COYS on Tue Aug 23, 2016 9:05 pm; edited 1 time in total
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Hells Bells



Joined: 30 Apr 2005
Posts: 13142
Location: French Alps

PostPosted: Tue Aug 23, 2016 8:25 pm    Post subject: Reply with quote

I don't pay VAT either, but nor is my holiday rental ran on a cash basis, so I may have bookings from HA that should have paid a deposit in February that I do not receive money for until the following January. But I will have to declare the income as being received on the day I took the booking.
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Casscat



Joined: 05 Jul 2014
Posts: 2662
Location: Andalucía

PostPosted: Wed Aug 24, 2016 4:26 pm    Post subject: Reply with quote

kevsboredagain wrote:
COYS wrote:
Casscat wrote:
I would NOT wish to welcome guests to my property where I had not received payment in advance even with the *reassurance* that OD/HA were holding the funds in escrow.

Ditto


So you don't care that very occasionally a guest will get scammed and the property doesn't exist, which then lowers the reputation of the listing site and effect us all? Why do you think OD is has gone downhill in the last year or so? It's not "the new website" it's all the bad publicity about scams and non existent properties.

People just keep complaining but don't want to make any changes to improve the situation.


And you really believe that this development will end all holiday rental scams on HA sites? Dream on. If you are a verified owner with a track record why the hell should OD/HA deprive you of your revenue?
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