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Apartment Rental - Full Payment on Booking

Perth
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298 posts
402 reviews
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Apartment Rental - Full Payment on Booking

I note that some rental agencies (eg One Fine Stay) require 100% of the rental on booking. Isnt this a little unreasonable especially if you book well in advance? I did ask if they gave you any interest, you can guess the reply.

London, United...
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1. Re: Apartment Rental - Full Payment on Booking

If you think it's unreasonable take your business elsewhere. Why would they pay you interest? You're buying a product, not opening a savings account.

UK
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2. Re: Apartment Rental - Full Payment on Booking

Interest on say two thousand pounds for 6 months would be about ten pounds. Consider the rent to be two thousand and ten pounds. If that extra amount makes the cost too high, look elsewhere.

Or from another perspective, they have a right to charge, you have a right not to buy, you might as well argue about any other ts&cs, such as no smoking or no pets or whatever.

Perth
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3. Re: Apartment Rental - Full Payment on Booking

Wouldn't it be nice if people replied without being quite so sarky. Absolutely no need for the curtness of the responses you got - if people think you are daft for asking the question they have no need to reply.

Check around the various agencies, rwlid, because they are all a bit different. We have recently booked through Ivy Lettings and they take 50% on booking and the rest a bit further down the track. Other agencies have different payment arrangements. Don't book with the first agency you look at; you will find that many of them have excellent reputations, and many of them can offer you apartments which suit your budget and location requirements. I think the main point is to stick with an agency which has a good reputation on sites such as this, and check out as many reviews as you can find.

Good luck with your search.

London, United...
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4. Re: Apartment Rental - Full Payment on Booking

> Wouldn't it be nice if people replied...

It would be even nicer if people asked legitimate questions instead of using TALF as a soapbox.

5. Re: Apartment Rental - Full Payment on Booking

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TX
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6. Re: Apartment Rental - Full Payment on Booking

>>>>>This is what I hate about Europe. In America ... <<<<<<<

Oh, boy. Let the fun begin!

Watford
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for London
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7. Re: Apartment Rental - Full Payment on Booking

"In America, we preauthorize your card for 1 dollar at the time of booking and charge you in full when you check in"

That is so incorrect on almost every level. I have booked with accommodation providers both large and small in the US and the booking policy differs almost every time. Most smaller B&B's require you to pay for the first night at time of booking but there is no consistency in this. Chains have various deals with the cheaper rates tending to have stricter cancellation policies. There is no one size fits all policy.

As with here in the UK, if you don't like the policy then you are free to look and book elsewhere.

Toronto, Canada
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8. Re: Apartment Rental - Full Payment on Booking

I pay in full at time of booking for hotels and serviced apartments.

The places I book are on a discount rate (through a couple of sites), and because of that the agreement is you pay up front, sometimes I get an even cheaper rate because I choose one without a cancellation refund.

I prefer paying up front, by the time the trip comes around, it's all paid off.

it is the same in Canada, I've never had an hotel "preauthorise" my credit card for one dollar.

Out of curiosity OP, would you ask an airline about interest when you've paid in full for your flight......before the flight date?

U.S. expats
Destination Expert
for Windsor, London, Dry Tortugas National Park
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9. Re: Apartment Rental - Full Payment on Booking

I have booked places in Europe where I didn't pay until I arrived, except a small amount to hold the reservation.

I have booked in the U.S. where I have had to pay all the money up-front, with no alternative, because all the properties in that area do it that way. (beach house and ski resort townhouse)

It is down to you to do the research, feel comfortable with the transaction, and ultimately to choose if you want to do business this way.

Perth
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10. Re: Apartment Rental - Full Payment on Booking

The question on paying interest rates was a little tongue in cheek, but obviously this completely went over the heads of some. Alhough, interest on 2000 pounds in my neck of the woods would be around 40 pounds, not 10. The basic question was an honest one, Personally I think it unreasonable to request payment in full from both a financial and risk perspective and I would not be comfortable with it, but I was interested in other views, Obviously there is a little sensitivity out there in TALF land?