Flatio covers you in many ways. In this article, you can read more about how we protect your properties, your money, and your peace of mind.
Are my property and money safe with Flatio?
The article was updated on 4. 9. 2023.
As a part of our StayProtection plan, Flatio has taken precautions to protect your property and payments due to you.
First rent
Can you get the first rent even if the tenant doesn't move in?
Yes, this is possible! At Flatio, you can choose between different types of cancellation policies, in combination with a lease agreement that includes the payment of the first rent in advance to our collection account.
If you choose our strict cancelation policy, it means that:
- if a tenant with a valid lease cancels a reservation 13 days or less before the start of the rental period, you're entitled to the entire first rent,
- if the tenant cancels the lease within 14-29 days before the start of the lease, the you're entitled to half of the first rent, if the cancelation is made 30 days or more before the start of the lease, we'll return the first rent to the tenant, as we consider this time sufficient to find a new tenant for your accommodation.
This is an effective tool that protects landlords from inconsiderate people who only indicate that they're interested in renting. You can read more about the different cancelation policies and early termination here.
What if the tenant does move in?
If the tenant contacts us confirming that the handover went smoothly, Flatio will send you the first rent payment on the next business day.
However, if we don't have confirmation of a smooth handover and at the same time neither party wants to withdraw from the lease agreement, we'll automatically transfer the money on the 3rd day after move-in. This rent provides the tenant with accommodation for 30 days from the start date of the lease.
Any additional rent is transferred by the tenant to the Flatio collection account, where the money is kept for a maximum of 24 hours in case of a bank transfer (in practice we send it to the landlord on the next working day). If the payment is made with a payment card through the payment gateway, the money will be sent after 5 working days.
You can read more about the calculation of rents and how they're sent in this article.
Flatio's Rental Insurance for Landlords - Powered by AXA
Although we do our best to bring together landlords and tenants who are professional and caring, property damage can occur. That's why Flatio and AXA teamed up to provide you with a special Rental Insurance package that covers all these unfortunate situations.
The insurance is completely free and we provide it to all reservations that don't require a payment of a deposit.
Our Rental Insurance plan includes 3 separate packages: liability insurance, insurance of assistance services, and legal protection insurance. This coverage goes way behind simple damage coverage! You can read all about how it works in the StayProtection section of our Help Center.
