1. Secure Payments via Stripe
All user payments are processed through Stripe using their credit or debit card. At the time of booking, the first two week's rent is preauthorised, along with any applicable fees and security deposit. The remaining rent is charged weekly during the stay.
2. Setting Up Your Payout Method
To receive your payouts, you will need to connect your Stripe account to Mobilife. This is done during the onboarding process. You’ll be asked to submit:
- Your business or personal details, depending on your structure
- Your bank account details
Stripe will validate your information for compliance with financial regulations (this may take up to a few business days). Once verified, your account is ready to receive payouts automatically.
3. Initial Payout Process
To ensure a smooth move-in experience, the first two week's rent and any applicable fees are released to property partners 24 hours after the user's scheduled move-in date. This delay allows Mobilife to verify that the user has successfully moved in and the stay has commenced as planned.
This initial payout is separate from the regular weekly payout cycle and typically reaches your connected bank account within a few business days after release, depending on your bank's processing time.
4. Weekly Payout Process
Mobilife collects rent from users and processes partner payouts weekly.
Before each payout:
- Rent is charged on the user’s payment method prior to the relevant week of booking.
- Mobilife confirms successful Stripe charge and approaches the user if there are any processing issues.
- Mobilife continues to monitor and manage the transfer of fund from the user’s payment method to property partner’s connected bank account.
5. Expected Timeline
From payment method charge to payout initiation, overall Stripe process takes up to 5 business days. Then it may take up to 2 business days for funds to be deposited into your connected bank account, depending on your bank's processing time.
You can view your payout summary from your Stripe dashboard anytime.
6. Security Deposits
Mobilife collects a security deposit at the time of booking through Stripe as a preauthorisation hold, not a charge. This amount is not transferred to partners and is only held to cover potential damage, excessive cleaning, or contract breaches. If no issues are reported within 48 hours of move-out, the deposit hold is released.
If you do need to report a damage claim, please contact Mobilife support within 48 hours after the user’s departure. Claims made after the 48-hour window may not be eligible unless exceptional circumstances apply.