29 Replies Latest reply: Sep 13, 2019 11:56 AM by feibus RSS

    30 day wait when switching to HA payments

    lalinda Contributor

      I have a question about the 30 day delay when changing from Yapstone to HA payments. I thought I remembered reading that HA will take 30 days to release the first guest payment, with that timeline starting after the guest checks in, and thereafter, the timeline would be 5-7 days (for those approved for what they call advance and I call timely payments).

       

      I'm reading posts about people blocking their calendars for the next 30 days, in order to avoid having guests come and go, long before HA sends payment for their stay.

       

      This is confusing to me because in order to get payments moving, don't you need a booking, stay, and payment to start that 30 day timeline, in which case you want a booking as soon as possible? Or am I wrong, and it just takes 30 days to process the accounting change?

        • Re: 30 day wait when switching to HA payments
          wildiris Active Contributor

          The 30 day wait is a fraud protection device by the payment processor (whether this is Yapstone or a new processor of HomeAway's choosing).  The payment processor wants to make sure that the vacation rental is real and the owner/PM is the real owner.  They don't want to disburse money to someone who posts a fraudulent listing.  I may be missing something, but I don't see any benefit in hiding a listing for 30 days.  No matter what, your first payment is going to be held for 1 day after the guest checks in OR 30 days from the date of the guest's payment, whichever date is later.


          Here's the information that was sent to me two years ago when I first enabled HomeAway Payments , but I believe it is still correct information -

           

          Disbursement type: Check-in

          For your very first payment, funds are disbursed to your bank account one day after your guests check in OR 30 days from the date of the guest's payment, whichever date is later.

          After that, payments are disbursed one day after your guests check in. Funds will arrive in your bank account three to seven business days later (settlement times vary by bank). Please keep this email for your records.

          HomeAway Payments has partnered with VacationRentPayment for payments processing to bring you the simplest, most secure online payment platform for your listing. They will be sending you another email with more information.

            • Re: 30 day wait when switching to HA payments
              lalinda Contributor

              Thank you, that makes sense and I believe I remember a similar delay when going to previous payment platforms.

               

              Here's the verbiage I've read elsewhere specifically about this transition:

               

              NOTE: For your very first payment, funds are disbursed to your bank account one day after your guests check in OR 30 days from the date of the guest's payment, whichever date is later. After that, payments are disbursed one day after your guests check in. Funds will arrive in your bank account within 3-7 business days on average (times can vary by how quickly your bank processes funds).


              So what happens in the following scenario:


              Guest 1 makes a booking two months in advance, the 30 day period applies, HA sends payment one day after check in. In the meantime, Guest 2 makes a booking, with an arrival date before Guest 1. When does HA disburse payment for Guest 2? Is Guest 1 technically the very first payment, or is Guest 2?


              In any event, I really do not understand why people are blocking their calendars. Wouldn't it make a lot more sense to make a one night booking for your own property for tomorrow, to get things moving, rather than waiting and hoping for a timely guest booking?

                • Re: 30 day wait when switching to HA payments
                  bonesxxx Active Contributor

                  It's to prevent someone from booking last minute (i.e. for next weekend).  They come next weeked, they enjoy themselves, they check out, my cleaners clean, and I pay for the cleaning staff, the electricity they consumed, etc... but I don't get paid until October 10th! To add to MY risk, if the same traveller initiates a charge-back or if I need to initiate a damage claim... who knows what would happen.  I don't care to find out because all signs point to me being the one who gets the short end of the stick.


                  That's why folks are blocking September.  I don't care if someone books now for November or December... their stay is after the 30 day wait and at least I will get paid when they check in (or close to it).

                    • Re: 30 day wait when switching to HA payments
                      lalinda Contributor

                      This is why I asked about the above scenario of Guest 1 and Guest 2. If Guest 1's payment is held up for 30 days, but Guest 2's isn't, then shouldn't owners make a one night booking of their own property ASAP, to start that 30 day clock, thus leaving the rest of the month open for timely payments?

                        • Re: 30 day wait when switching to HA payments
                          bonesxxx Active Contributor

                          Good question perhaps feibus would know.  My sense is that the 30 day delay starts when you get your first booking and sets the date (30 days out) that your check-in or on time payments begin.  But I see why you asked, the wording would indicate that it applies to the first payment only.  It's a good question.

                           

                          How would you secure your quick one-night booking? Book from yourself?

                          • Re: 30 day wait when switching to HA payments
                            feibus Senior Contributor

                            That 30-day requirement is only for owners who have no payment history through the platform.  Once you've established you really have a home for rent that someone can check-in to and check-out without a complaint... you're ready check-in payments.

                             

                            As to your question: I think if you're not busy, it won't matter... they want to get the first payment processed and someone into your home before disbursing any money, so whether that's "you" checking in or someone else, it's 30 days from today (first payment) or day after check-in whichever comes later.  So if you try to book for tomorrow, then 30 days from now is still later than that, it'll be 30 days from now either way.

                             

                            So... just take bookings and don't worry about the 30-day thing unless your bookings usually happen for check-in in the next 2 weeks (like a weekend-stay place). 

                              • Re: 30 day wait when switching to HA payments
                                lalinda Contributor

                                "If you're busy" is the key here, and the reason for my question. It seems like nit picking, but it's crucial to my finances.

                                 

                                My rental is in a seasonal location, with most rentals in the winter, some in the summer, and none in the spring or fall. I'm in the low period right now. I had blocked the prime Christmas week on my calendar for family reasons and I just unblocked it. What I didn't want was for a Christmas booking to come in and have that be the 30 day case, and not get paid for that until the end of January. The Christmas booking (along with a couple of other holiday bookings) brings in the most money of the year, and what we rely on to keep us afloat in the down times. I can't afford to wait until end end of January.

                                 

                                So that's my situation. If the 30 day period is only for the first payment, and subsequent payments take 5-7 days, to me it makes more sense to do your own booking (or ask a friend to book, whatever works) ASAP and get that moving, rather than blocking your calendar, which seems like it's only delaying the process.

                          • Re: 30 day wait when switching to HA payments
                            wildiris Active Contributor

                            I think your approach makes more sense.  An owner is going to have to wait 30 days for the processing of the first payment.  If an owner is worried that this first rental might be booked by a guest who is also a scammer and using a stolen credit card, then the owner should make a one-night booking himself.

                        • Re: 30 day wait when switching to HA payments
                          patpat Contributor

                          OK, so..."The 30 day wait is a fraud protection device by the payment processor.... The payment processor wants to make sure that the vacation rental is real and the owner/PM is the real owner.  They don't want to disburse money to someone who posts a fraudulent listing."......  Haven't we already established that we have "real" vacation listings? And could this 30 day verbiage be for "new" owners only?? I know I had my very "first payment" years ago.

                          • Re: 30 day wait when switching to HA payments
                            ohst8er Premier Contributor

                            According to the PP CS rep I'm currently on the phone with, that 30 day hold only applies to people who are new to VRBO. 

                            • Re: 30 day wait when switching to HA payments
                              lalinda Contributor

                              Update!

                               

                              I had a lovely one night stay at a rock bottom rate. Ha! No, I'm not going to leave myself a good review, though the idea makes me laugh. I wanted to test the payment system in the absence of consistent information from VRBO, not game the system.

                               

                              My stay was on 9/3. As the owner, I received an email from VRBO on 9/9 with a deposit statement, listing the amount that was going to be deposited into my account "within 5-7 business days of the settlement date listed below." The settlement date listed was 9/8.

                               

                              My bank account shows the deposit credited on 9/10.

                               

                              So for me, no 30 day processing time for this first time payment, even though I had received various warnings about that. The fee was 3%.

                               

                              HOWEVER -- you knew there was a however, didn't you? There's no way this was going to go perfectly! This morning (9/13) I received an email from VRBO with the subject line "invalid bank account." It says "our recent attempt to deposit funds into the bank account you associated with your HomeAway Payments integration has failed. Please contact your bank or review the details on your Payment Settings page to ensure the accuracy of the account we have on file."

                               

                              There's a link in there on Payment Settings page, but I do not click on links sent to me in such emails. The email does look legit, though. I don't think it's phishing.

                               

                              I tried contacting customer service via chat and I guess the agent didn't like my question because they terminated the chat without answering me.

                               

                              Since the payment did, in fact, go through, I'm disinclined to spend more time on the phone working on this, and just assume VRBO sent the email out in error.