Fees to list your property:
We don’t charge to list your parking space as we take a commission from any bookings. All listings that are bookable don’t cost anything to get on our site. For products that aren’t bookable we charge a flat fee of £1.00 to list (we receive 76p of this if paid for by card). What sort of properties are these? If you want to list a spare-room you may not want just anyone to be able to book it and move in before actually meeting them. If you are going to share your home with someone it is highly advisable to actually meet them first. If you would like to rent your spare-room out on the basis of a B&B then this costs nothing to list as you pay us on a commission basis. We have designed our pricing structure to suit your requirements.
If you want to list a property for rent then a flat fee of £1.00 is payable. This is to cover the site costs.
Fees that you receive
As soon as a booking is paid for by Stripe and the funds received, 80% of the fee is transferred to your bank account. Why do we get 20%? We absorb the Stripe fees (1.4% of the fee + 20p per transaction). Then there is the cost of our site design, build, maintenance, hosting and marketing/advertising. Our Agent receives a 50/50 of our commission. so Rent My Drive Ltd absorb all of the build and Stripe costs. This means that for every hourly rate of £3.00 generated:
- £2.40p goes to the Lister
- 24p to Stripe
- 18p to our Agent
- 18p to Rent My Drive Ltd
To be frank, we don’t earn a lot. This is where volume comes in. Once we start moving the bookings in volume we can start to see some income. If the customer renting your property opts to pay via BACS/Cash we get to remove the Stripe costs. This means that your fee goes up to 85%.
- £2.55 to the Lister
- 22.5p to our Agent
- 22.5p to Rent My Drive Ltd
To give our business a chance to thrive we rely on honesty and transparency. If you look in the address bar (where you type the website address) you will see that we contain the Secure padlock. This means that all data on our site is safe. Your card details are never provided to our site. These are processed through Stripe’s Secure Server. With repeat business BACS is by far the best option. Stripe can take up to 7 days to transfer the money to our bank. We pay you out as soon as we receive the money from Stripe. If we receive a BACS payment you get paid as soon as we receive it (usually within 2 hours). If you receive payment by cash you can either pay our commission by cash or a BACS payment, whichever is easier for you. Please see T&Cs for a full explanation of how we operate.
An initial booking fee of £1.00. This means if the parking fee is £3.00 per hour the first hour shall be billed at £4.00 then every subsequent hour for that booking shall be £3.00. If people booking opt to pay by BACS/Cash we all do better. A lot of people will prefer to pay by cash as they are assured that it is a genuine service. It is a lot easier to turn up, park and pay with cash. This of course relies on you being there to collect the cash, during busy periods, for instance Broadstairs Folkweek, our Agent shall be in the locale and can collect cash if you are unavailable. If they opt for cash a receipt shall be provided to both the customer and yourself (we will provide you with receipts for this purpose). We shall also forward on an invoice stating ‘paid by cash’.
Note: If payment is provided with a non-European card please contact Sales & Service as an additional 1.5% MUST be added to the cost as Stripe charge 2.9% + 20p per transaction.