How Do I Calculate Payments and What Is The Payment Schedule?

Bianca Jayanty -

In order to provide a seamless experience for our partners and tenants, we’ve standardized our payment terms to remove friction from your leasing process and make your life easier in general. Here’s what you need to know:

Category

Calculation

Schedule

Base Price (Monthly)

Full months - Flat amount, as indicated on the listing

Partial months - number of days divided by 30, multiplied by Base Price

1st payment - paid to you by tenant’s move-in date*

Subsequent payments - paid to you by the first of each month

Security Deposit (One-Time)

Flat amount, as indicated on the listing

One-time, paid to you upon lease application acceptance*

Security Deposit Return (One-Time)

Flat amount, as indicated on the listing, minus any deductions

Must be returned to HomeSuite 10 days prior to your locally defined guidelines, as HomeSuite will need this time to process the return back to the tenant(s)

Cleaning Fee (One-Time)

Flat amount, as indicated on the listing

One-time, paid to you by the move-in date*

Cleaning Service Fee (Monthly) (coming soon)

Flat amount, as indicated on the listing. For partial months, proration follows the same calculation as Base Price

Same schedule as Base Price

Occupancy Tax (Monthly)

Flat percentage amount, as indicated on the listing

Same schedule as Base Price

Parking Fees (Monthly)

Flat amount, as indicated on the listing, regardless of the number of parking spots. For partial months, proration follows the same calculation as Base Price

Same schedule as Base Price

Pet Fee (Monthly)

Flat amount, as indicated on the listing, regardless of the number of pets. For partial months, proration follows the same calculation as Base Price

Same schedule as Base Price

Pet Security Deposit (One-Time)

Flat amount, as indicated on the listing

One-time, paid to you upon lease application acceptance*

Pet Security Deposit Return (One-Time)

Flat amount, as indicated on the listing, minus any deductions

Must be returned to HomeSuite 10 days prior to your locally defined guidelines, as HomeSuite will need this time to process the return back to the tenant(s)

Pet Cleaning Fee (One-Time)

Flat amount, as indicated on the listing

One-time, paid to you by the move-in date*

Utilities (Monthly)

Flat amount, as indicated on the listing. For partial months, proration follows the same calculation as Base Price

Same schedule as Base Price

 

Overall Payment Schedule:

  • If the tenant is moving in on or before the 20th of any given month, pro-rated rent and pro-rated recurring fees for the remainder of the month - along with any one-time fees (e.g., move-out cleaning fee) - will be sent by the tenant’s move-in date*.
  • If the tenant is moving on or after the 21st of any given month, pro-rated rent and pro-rated recurring fees for the remainder of the month, plus full rent and full recurring fees for the following month - along with any one-time fees (e.g., move-out cleaning fee) - will be sent by the tenant’s move-in date*.

 

*Please note: due to standard bank transaction times, payments can take up to 3-5 business days to settle in your bank account. If you opted to receive paper checks, please allow 10-15 business days for your check to arrive.

While we can guarantee that payment will be made by the tenant(s) on or before their move-in date, we cannot guarantee the date that the funds will be made available in your bank account. Rest assured that once payment has been made by the tenant(s), it cannot be interrupted or cancelled.

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