Payments
Financial Harmony for a Seamless Experience:
At 50Homes, we understand that financial matters are an integral part of your living experience. We’ve designed our payment schedule with utmost consideration for your convenience while ensuring the stability and cohesion of our community.
1. Booking fee: First Rent and Security Deposit:
Within 15 days before your scheduled move-in date, we kindly ask you to complete the first rent payment and provide the security deposit. The security deposit is set at €500-700 (based on the apartment), and it serves as a safety net for both you and us, ensuring a harmonious living experience. Security deposit is refundable. (More information at section 9. Deductions & Return)
2. Security Deposit Details:
- For the security of both parties, we have a defined timeline for the security deposit of €500-700 (based on the apartment). Starting from the moment you block the room with the booking fee, you have until 5 days from your arrival to the property to complete the security deposit. Adhering to this timeframe ensures that the room remains reserved exclusively for you. We strongly advise following this timeline to avoid any complications or potential loss of your reservation.
3. Monthly Rent Payment Schedule:
We’ve simplified the rent payment process to streamline your experience. Payments should be made based on the timeline of the previous month for the subsequent month’s rent. If payments are not made on time, a late payment fee will be applied. Please adhere to this schedule to avoid additional charges.(More information at section 4.Late Payment Fee)
4. Late Payment Fee:
We’ve all been there—life gets busy, and dates can sometimes slip by. If, for any reason, your rent payment isn’t received by the stipulated due date, here’s how we handle it:
Daily Late Payment Fee: For each day beyond the due date, an additional €15 will be charged. This fee will be deducted from your security deposit, serving as a reminder to maintain the commitment to timely payments.
Email Notifications: Simultaneously, an additional email notification will be sent as a friendly nudge to ensure awareness of the late payment and the associated fee.
5. Resident's Rights and Responsibilities:
We believe in clear communication and equitable treatment. You have the right to access your residence and enjoy its amenities as long as you fulfill your financial obligations. Timely rent payments are vital to sustaining the supportive and inclusive environment we’ve cultivated within 50Homes.
6. Delinquency Measures:
We genuinely hope it doesn’t come to this, but we’ve outlined measures to address cases of persistent delinquency:
15 Days of Unpaid Rent: If your rent remains unpaid for 15 consecutive days, we may take control of the residence as per our rights outlined in our terms and conditions.
7. Banking Transactions
:
7. Banking Transactions
:
- For the convenience of our students and to ensure immediate financial responses, we offer banking transactions through both Revolut and N26 IBANs. Utilizing these platforms not only streamlines the payment process but also enhances the efficiency of our financial interactions. We highly recommend students take advantage of these options for a smoother transaction experience
- On the other hand, any other deposit or transfer from another bank may incur a transfer cost, denoted as €x (It varies depending on the bank transaction). This cost will be charged to the depositor and calculated separately from the deposit. Refunds, on the other hand, are processed without incurring any additional costs.
8. Crypto Transactions
8. Crypto Transactions
:
Recognizing the evolving nature of financial transactions, we also offer the option for residents to make payments using cryptocurrency. For those who choose to utilize this method, there’s an added advantage: any resident who pays in crypto will have their booking fee for the property reimbursed. This initiative not only simplifies the payment process but also rewards residents for adopting alternative payment methods. We encourage residents to consider this option for enhanced flexibility and benefits
Unlock Your Savings:
If your option is to settle your monthly payments and booking fee using cryptocurrency, you’re in for a treat! We’ll refund you €50 from your booking fee. It’s our way of saying “thank you” for embracing the future of financial transactions.
How It Works:
Choose the cryptocurrency payment option during your booking and monthly rent payment processes. Upon successful payment, we’ll promptly refund €50 from your booking fee back to you. Enjoy the convenience of cryptocurrency while putting some extra euros back in your pocket.
9. Deductions & Return:
After your departure, we’ll conduct a thorough inspection to assess the condition of the property. Should there be any deductions due to damages beyond normal wear and tear, delays in payment, or other necessary repairs, they will be transparently communicated to you.
Rest assured, if no deductions are required, your security deposit will be promptly returned to you within 15 days after your departure. It’s our way of ensuring fairness and accountability in our community.
At 50Homes, we’re all about embracing innovation and providing you with options that suit your preferences. That’s why we’re excited to introduce a special offer for those who choose to pay their monthly rent and booking fee through cryptocurrency.
Unlock Your Savings:
If your option was to settle your monthly payments and booking fee using cryptocurrency, you’re in for a treat! We’ll refund you €50 from your booking fee. It’s our way of saying “thank you” for embracing the future of financial transactions.
10. Support and Collaboration:
We understand that life can bring unforeseen challenges. If you find yourself facing difficulties meeting the payment schedule, please communicate with us. We’re here to listen, support, and explore potential solutions together.
As you take this step, know that we’re here to assist you every step of the way. Should you have any questions or need further clarification, don’t hesitate to reach out to our dedicated support team at contact@50homes.org .
