Overview
Homads is an online booking site specializing in mid-term rentals (MTR). This means that all hosts and guests who interact on the platform are specifically looking for a home rental for 30 days or longer. The philosophy of Homads is simple. DON’T SETTLE. SETTLE IN.
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Pricing
As a host, listing, browsing, and messaging on Homads is completely free. Homads will securely handle monthly payments and disperse each payment monthly (30 day intervals). Each payment incurs a 3% credit card transaction fee.
Recommended for the Following
Individual Self-Managing Property Owners – Yes, Homads could be a good fit for mid-term rental properties in a self-managing owner’s portfolio.
Property Managers and Co-hosts – Yes, Homads could be a good fit for mid-term rental properties in a property manager’s portfolio.
Features
How do properties join? Create a Homads account and list your property.
Can any property join or is there a criteria? All accommodations must have a valid physical address.
Fee to Host:
- As a host, listing, browsing, and messaging on Homads are completely free.
- There is a 3% credit card transaction fee.
Fee to Guest: 8% service fee for each booking.
Payment Mode: WePay, Stripe
Do they offer liability insurance? Homads encourage the host to have their insurance policy.
Do they offer damage insurance?
- Homads encourage the host to have their insurance policy.
- Damage payment will be charged to the renter’s credit card in your Homads account.
Do they collect a security deposit? Yes.
- Homeowners may include security deposits in their listings.
- Homads captures the renter’s payment information and charges any reported damages after moving out.
- Report damages to a Homad’s Conflict Resolution Specialist.
- Any damages must be reported within two days of moving out.
How does the host get paid? Through Stripe. Payment will be escrowed and released to the host 2 days after the renters move in (if there are no complaints).
Additional Information: Through Homads, you do not need a short-term rental license unless you rent your property for less than 30 days.
Pros
- Hosts have no fees other than a 3% credit card processing fee.
- Homads takes care of collecting the security deposit, monthly rent, and damages.
Cons
- Damages must be reported within two days of guests moving out.
Customer Reviews
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