They don't have to give blanket permission. They can have an orderly rational process for offering it prior to insisting on their terms being accepted. And that is side stepping the whole "or other reason" problem with cancellations.
Again, please stop assuming our stupidity. If VRBO/HA wants to build trust with its owner partners, this is not how trust is created.
I have a perfect track record for many years with this company. The only "cancellation" I had was VRBO/HA's fault because they had a tech glitch where I could not accept a reservation and so had to cancel it so the traveler could resubmit an identical request. I have a credit score over 800. If you're not giving me advance payment and assuring me that my contract will be enforced as written, I'm not in.
I think we will never know how things played out between Vrbo/HA and Yapstone.
It's rather moot at this point.....and Yapstone may be scrambling to maintain revenue.....I think Vrbo/HA were surprised by this, otherwise a transition would be somewhat more orderly, IMO.
I'm sure other players in the OTA space are watching closely.....
No one is assuming anything- sign up and fill out the docs. I think you'll find an orderly and very rational process. No one is going to be 100% happy with all the T and C's but it's a starting point.
I don't know you and I'm not familiar with your property or rental acumen. You are an engaged owner so I'd guess you've got a great vetting process, rental agreement and policies, and procedures to protect your business. In your history how "for other reasons" have you experienced. Have you ever had a guest, refuse to stay, leave or violate your cancelation policy without consent?
My philosophy aligns with "don't look for problems that don't exist". Your track record speaks for itself. Kudos to you.
Don't wanna be off topic, but .... not sure where to put this and not sure we need another thread ....
amanda_ha For early adopters who are accepted into HA's new system and returned to on time payments, do you know if there will be a process in place to verify our banking info before taking on large bookings?
For example, when there is a banking change, another platform I work with will deposit $1 just for verification purposes . . .
Edited to add: I did look at the flow chart and link info you posted but did not see any mention of this . . .
Well....what do you know.....I just received confirmation, after putting in my banking info, that I now have Early Payments setup with HomeAway Payments.
Disbursement type: Early payments
Payments are disbursed 7 business days after your guests have submitted their payment. Funds will arrive in your bank account three to seven business days later (settlement times vary by bank).
That was reasonably quick!
One note.....they should remind people to go to the Properties/Rules and Policies/Payment section and make sure that the W-9 form is filled out.
Otherwise no disbursement will take place!
It will be interesting to see if Vrbo/HA tightens up the Rental Agreement process, since they are now directly handling the payments.....it would be difficult for them to reject a chargeback if their method of getting guest approval of a Rental Agreement doesn't hold up with credit card issuers!
I agree that I hope they implement a free advance payment option with the new HomeAway payment plan. The phone rep I just spoke with on the Premier Partner help line said they are going to be "testing" the feature in the next few months to see if they are going to continue to offer it or not. I also requested to switch because there is absolutely no reason to stay with Yapstone. They charge extra for international (including Canada where a lot of our renters are from) and HomeAway will be discontinuing business with them the end of this year anyway.
I would never pay double to get my payments instantly, even though I prefer that. That's ridiculous to me. I don't even pay extra on AirBnB. After all, whether you get them right away or after check-in the intervals are still the same, just shifted. We don't disburse income to owners and manager and guest deposit refunds until after guests check-out anyway. I can live with that (unless and until we run into issues). Since I already do that with TripAdvisor and AirBnB (pay a day after check-in), Booking.com (pays three days after check-in) and HomeEscape (pays a week before check-in) I will adjust if necessary.
I definitely don't want it to be easy for guest to request a refund upon check-in without proof or good cause though. However, even with advanced payments HomeAway could still do a refund to the guest if they wanted. They can take money out of our linked bank accounts (as they used to do with deposit refunds and still do for cancellations) so it's not like that isn't already a possibility either way. Truth is we have never had a guest check-in then ask for a refund in 15 years, except once when they didn't like the neighborhood next to our neighborhood, which is their own issue and has nothing to do with our advertisement or property description.
I signed up with HA upgraded Early Payout that was offered via email and with the links provided in this thread earlier this afternoon. About 3 hours later I received the email confirmation stating that I have been accepted in to the Early Payment. Not sure if it will be like this for everyone across the board but at least wanted to share my experience with all the uncertainty going on with this.
I have two listings. One I am able to migrate over and it is asking for my bank info, per the FAQ.
For my other listing, when I log in I see this:
Yapstone, your payment processor, announced today that it has discontinued Advanced Payments. This feature released funds to you soon after a traveler paid. Your payouts will now be sent one business day after a guest checks in.
We know that this is a big change for you and how you manage your business. We are partnering with Yapstone to minimize any further disruptions to your payment experience.
Because payments are critical to your business, Vrbo and Expedia Group have been working to build an upgraded payment option for you. We will notify you when you can upgrade to our new platform.
Why is there is difference in the way my two listings are being handled? This listing has been on VRBO since 2006. The one that's migrated over didn't get listed until 2013.
Connecting Partners based in Bethel Maine appears to have “ advanced payments “ with no charge.It may also depend on your cancellation policy. We have no cancellation and had advanced payments no problem. With Homeaway. We were loyal and complacent so only listed with them. Now that loyalty has been undermined. No matter what they do now, having let this happen, I will never trust them to be the only rental platform.
I was told by an agent tonight, after waiting 20 minutes to talk to him, that advanced payments is not planned for HA in house payments. I think this time they will really lose marketshare.
- I appreciate the notice that some may be eligible for advanced payments. I have gotten no such notice. I am a Premier Partner with only advanced payments since the beginning . I can find no where to link my bank account information. There was al link sent but it goes to nothkng.
- Even if I sign on I am not being assured I will get on time payments. This is busy time for next year and I have shut down my remaining openings as I do mot want to wait for next summer to receive payment.