29 Replies Latest reply: Oct 30, 2019 3:04 PM by puttermac10 RSS

    Is the current payment schedule sustainable?

    koko Active Contributor

      Guests checked out yesterday, there is not a cent paid yet from HA. I am on advanced payments.I am PP.

      The guests brought a check for the DD

      Had these guests paid HA for their DD, they would be now waiting  for a refund?

      If DD is blocking an amount on a credit card then these amounts would still be blocked for how long? The same guests are going on to three more VRBO bookings. each with DD and at the end of their trip they have thousands blocked on their CC?
      This scenario is downright crazy and will not win anybody customers or guests.

      I myself as a customer to VRBO am asked to provide services in good faith when VRBO does not trust me with remitting fees correctly?

      For VRs with lots of 2 and 3 night rentals at this time of the year it is a bookkeeping nightmare and I am not sure that this can be sustained over a long period of time.

      I will have to turn off IB and with that I am sure drop to the bottom of the listing pages.

      More power to this business model.

        • Re: Is the current payment schedule sustainable?
          hmmmm Senior Contributor

          I am uneasy, with guests coming with no payment delivered.


          Thoughts from the Audience?

           

          That would eliminate last minute bookings of two weeks or less?

            • Re: Is the current payment schedule sustainable?
              feibus Senior Contributor

              I think they need to modify the disbursement timing code for early payout to either be 1 week from payment OR the day after guest checks in, whichever comes first.  Why should a last-minute check-in be paid to owners without early payout before those of us who have been granted early payout?

               

              samantha_ha, can you send the suggestion up the food chain?  Thanks!

                • Re: Is the current payment schedule sustainable?
                  swlinphx Premier Contributor

                  Agreed; if those without advanced/immediate (if you can call 7-9 days later "immediate") payout get paid the day after check-in there should be no reason why those with advanced payments don't get paid before or at least no later than the day after check-in in case of bookings less than 9 days in advance.

                  • Re: Is the current payment schedule sustainable?
                    koko Active Contributor

                    To update this:

                    Guests checked in 10/1

                    Checked out 10/3

                    HA sends disbursement notice 10/8

                    Bank has the money?

                    I have the money?

                     

                    This is not even laughable anymore, PP and preferred payments and 20 years in business with this, most of them VRBO connected.

                    I agree with timthek

                      • Re: Is the current payment schedule sustainable?
                        feibus Senior Contributor

                        When did guest book?  Sounds like same-day booking.  In which case, yeah, you have to wait over a week to get the money.  You can adjust that booking window if you want.

                          • Re: Is the current payment schedule sustainable?
                            koko Active Contributor

                            They were IB but I have a 3 day window so the payment should have been here at check in - a week in each case is excessive.

                            • Re: Is the current payment schedule sustainable?
                              martyp Contributor

                              Koko should not have to "adjust the booking window" and give up next day booking.

                               

                              The supposed reason for delayed payment is to minimize VRBO's risk of losing money if the guest cancels and funds are unavailable.  Since the guest has checked in, there is no chance of the guest cancelling canceling and there is no risk  to VRBO.  VRBO should pay no later than the check-in date, NOT 7 days later.

                               

                              VRBO is holding on to another person's money.  This is unethical ... there is no other word for it/

                                • Re: Is the current payment schedule sustainable?
                                  pattimatt New Member

                                  Most of my guests have been booking on weekends.  That's when friends and families get together and plan a getaway.

                                  So they don't disburse it in Seven Days it's more like NINE days. Then another 5-7 Days to get $$ to your bank.

                                   

                                  Guest checked in and checked out..... No Payment Yet

                                   

                                  $500.00 Security Deposit due to be AUTOMATICALLY REFUNDED TO GUEST 

                                   

                                  How can this be???  When this Premier Partner has received NO FUNDS YET.

                                   

                                  How is this possibly OKAY. This must be fixed.

                                  Oh let me guess, have travelers buy their insurance policy for Security Deposit....... Or change your booking window.

                                  You certainly cannot book Instant Booking or within a few days.    VRBO is forcing me to change to at least a 2-3 week Booking Period.

                                  Oh but wait - You will drop me in rankings. 

                                   

                                  Thank you VRBO for controlling my reservations, security deposits and my income.

                                  Premier Partner

                                  NOT HAPPY!

                          • Re: Is the current payment schedule sustainable?
                            koko Active Contributor

                            Mine came, checked out and no money!

                            • Re: Is the current payment schedule sustainable?
                              barbabcock New Member

                              Under this new payment plan, a guest could come and go and we would not receive payment. Would HA be sending their refund before we are even paid? Are we now paying our guests to stay in our homes?

                              We think we are sharing a lovely cabin in the woods with those who love to be there. HA just thinks we are part of their stock. They have been slowly taking over our rental while increasing the costs of doing business with them. I don't see how I can renew with them when the time comes.

                            • Re: Is the current payment schedule sustainable?
                              timthek Active Contributor

                              It is not sustainable for me. So I've blocked my entire summer 2020 on my VRBO calendar. Hopefully more people do the same.

                              • Re: Is the current payment schedule sustainable?
                                tgokaydin New Member

                                I am totally at lost with the new payment plan(s). I have an email indicating that I am in "Check In" payment plan. But I received a payment for a guest that is more than a month away!

                                Is the early pay option costing higher percentage than the "Check-In" plan?  Has anyone discovered the facts about this new payment plan? If so, I would appreciate some explanation!

                                Many Thanks!!

                                  • Re: Is the current payment schedule sustainable?
                                    margaret CommunityAmbassador

                                    It does not cost more for early payments with the new processor. If you qualify your payment will be released 7 days after the guest pays. There are numerous threads about the new processor, it has been discussed here for many months. Do you have specific questions?

                                      • Re: Is the current payment schedule sustainable?
                                        tgokaydin New Member

                                        Dear Margaret - Thank you for your quick response however, according to the email I received from Yapstone in September, early pay is an additional 3 percent charge. For this reason, I did not OPT-IN to this payment type. The same email also indicated that I was in Check-In type payment schedule. However, I received November bookin's payment this week!  This still does not make any sense to me!

                                         

                                        Below is the extract from this email I received from Yapstone:

                                         

                                        "We are writing to advise you of a change to your Yapstone Advanced Payments feature.  After careful review of competitive payment offerings, we have discontinued Advanced Payments as a free service.  Effective today, your payment account is being converted from Advanced Payments service to Check-In service (See, Yapstone Check-In Payments Terms).  We sincerely apologize for this short notice and appreciate the impact on your cashflow. We know that this is a valued feature of Yapstone and that it distinguishes us from competitors.  So, we have created a quick way for you to resume the Advanced Payments feature.

                                         

                                        HomeAway customers who want to resume getting the benefits of advanced payments can do so at a cost of 3% per transaction (in addition to the standard processing fee) for the new service.  By opting into the fee-based service below, you agree to the fees and terms. To opt-in, click the button below."


                                        • Re: Is the current payment schedule sustainable?
                                          barbabcock New Member

                                          Margaret, this is not at all what the notices I've been receiving from HA indicate. They seem to be saying that I can be paid within a normal time limit if I am willing to pay 3% for the privilege. Or, w/o paying the extra 3%, I can receive my money in a month. This feels a bit like a robbery. "Pay up the 3% or you don't get your money!"

                                           

                                          And, how does one qualify for the 7 day funds release that you reference?

                                           

                                          I would love to be able to speak with someone in order to gain assurance about how HA will be managing my funds..but I can't seem to connect with a anyone who can speak clearly, unaccented, and knowledgeably, over a decent phone connection.

                                            • Re: Is the current payment schedule sustainable?
                                              margaret CommunityAmbassador

                                              barbabcock Yapstone aka VRP/HomeAway Payments the is the payment processor that is charging an additional 3% for advanced payments. Yapstone will soon no longer be the processor for HA/VRBO. Any bookings that they have already processed will be completed through Yapstone. You can ignore the emails asking for the extra 3%. There is another email that has a VRBO logo that ask you to agree to the new payment system, there are 2 boxes you must check then add your banking information and complete the W9. You can look on your dashboard to see if you have this notification, from the dashboard>Property>Rules & Policies>Payment Options. You will not know for sure if you will receive the payments before check in until you have agreed to the new system. You can also try calling CS during business hours in Austin, Texas to get a CS rep that you can understand. (877) 202-4291. Explain you want to be switched to the new payment processor, To continue to receive payment for bookings you will have to switch because Yapstone will soon be eliminated.

                                                • Re: Is the current payment schedule sustainable?
                                                  barbabcock New Member

                                                  Margaret, thank you for your response which was, at least, half way helpful. When I got all those warning notices from HA about how I had to do something about my preferred payment method by November 1st or my account would be deactivated, I followed all the prompts (without really understanding the ramifications) and updated my account. I entered my banking info and filled out the W-9. It seemed as though I was signing myself up for a 3% charge in order to continue doing business with HA. Since my calendar is blocked until next spring when we reopen, felt I had some time to figure out what to do next.

                                                   

                                                  Your response gave me a glimmer of hope that I might be able to stay with HA and receive payments without paying the extra fee. So, I checked my dashboard to search for clues as to my status. It just says that I am all set. Great...what am I all set for?? A charge or no charge to receive payments?

                                                   

                                                  So, I tried calling the number you gave in order to speak to a real person, one that I could understand and who could tell me the truth about my status. After half an hour I hung up. Either the people in Austin don't want to speak to anyone or they are super busy.

                                                   

                                                  I might try again after my phone recharges or just give up and move on to another company. After all, this isn't the only way in which HA has annoyed me. I'm also not thrilled to learn that my ranking will be reduced if I deny a guest who wants to smoke or hunt at my place.

                                                   

                                                  HA seems to be a super slick place for those with luxury rentals. I've just got a little log cabin on a pond in the Maine woods that can only be accessed when there is no snow. It's fine enough for us but perhaps not a good fit for HA.

                                                    • Re: Is the current payment schedule sustainable?
                                                      margaret CommunityAmbassador

                                                      barbabcock  The processing fee has always been 3%, Yapstone recently started charging the additional 3% for a total of 6% to receive advance payments. If you have entered your banking info and W9 you will continue to pay the 3% processing fee you have always paid whether you get early payments or check in payments with the new processor, at least at time point in time. If you are see what I have posted below under payment options, you have moved to the new processor. There are many non-luxury properties listed on HA/VRBO.

                                                       

                                                       

                                                       

                                                      Deposit Account Information

                                                       

                                                       

                                                      You are enabled for HomeAway Payments. Your payments will be disbursed to this account.

                                                       

                                                       

                                                      Tax Details

                                                       

                                                       

                                                      In order for HomeAway to disburse your funds, we are required to determine your tax liability.

                                                       

                                                       

                                                      Your tax form status is: Complete

                                                      You're all set! View your completed

                                                       

                                                        • Re: Is the current payment schedule sustainable?
                                                          barbabcock New Member

                                                          Margaret, Thank you for your quick, reassuring reply. Yes, I have all that stuff on my dashboard. I know about the cc processing fee. Not a problem. It's that extra 3% fee that had me .... confused...irate. So, apparently, I will only be paying the cc fee and receiving my funds 7 days after the guest makes a payment, if I am interpreting you correctly. In other words, everything will proceed as usual.

                                                          I am quite relieved! Thank you so much for your help in clarifying this for me. Hopefully, there are others who will also be reassured. 

                                                            • Re: Is the current payment schedule sustainable?
                                                              margaret CommunityAmbassador

                                                              Yes, you will pay the normal 3% only those who agreed to pay Yapstone the extortion fee of an additional 3% will pay the 6% until they have completed their remaining payouts through Yapstone. Your payouts will be released 7 days after the guest pays if you qualified for "early payments" the will be paid after check in if you are placed on check in payments.

                                                • Re: Is the current payment schedule sustainable?
                                                  puttermac10 Contributor

                                                  This is so stressful. My rules have been my rules for the seven years I've worked with VRBO and I take my payment half at booking and half in 30 days. That is my money and should come to me. I have three Premier properties and I'm not sure why am not on the new early payment system since I have already signed all of the agreements a while back. I would love to know the criteria. Now it has gotten very confusing with the tax stuff as well in the states for they are collecting taxes VRBO does not collect the local community tax and when I try to explain this to guests it confuses them to the point that they just don't want to book. I should be able to add a percent fee to my bookings under the fees tab and name it local taxes or something when I try to add a flat fee there isn't an applicable name & they don't like it. When I try to explain it it's just too confusing. I've lost three bookings in a week because of this - it is a loss to everyone as renters don't want things to be added on at the end when I think they know their price.