Learn how the lease signing process works, when the lease becomes officially valid, and what you can do if a tenant doesn't sign it in time.
What happens after the booking request is accepted?
The article was updated on 9. 10. 2024.
As soon as you accept a reservation request, Flatio considers it as a signature of the lease agreement from your side and automatically generates the lease in the tenant's profile. The tenant is then required to complete the contractual process by finalizing these steps:
- reading and signing the lease using an online authorization code sent via email,
- uploading a copy of their ID, so that you can check if it matches the data entered on the lease,
- and pay the first rent.
As soon as the potential tenant completes all these steps and the payment arrives at Flatio's collection account, the lease agreement becomes officially valid.
Remember that if these steps are not completed within 24 hours of the reservation acceptance, you have the right to cancel the lease agreement and therefore the whole reservation. If you proceed this way, the dates blocked by this reservation will immediately appear as available again, meaning another tenant will be able to book your property for the given period.
(Note: The lease is never canceled automatically - it's only up to you for how long you'll wait for the tenant to finalize the booking.)
