Spotahome Plus Guarantee

The Plus plan guarantee provides an alternative solution to traditional deposit and rent insurance. You will only receive booking requests from pre-screened tenants, who will benefit from being able to rent on fairer terms without providing a traditional deposit. Our guarantee protects landlords’ rental income by paying the monthly rent directly to the landlord on the 10th of every month. It also includes the rental contract for the Landlord and Tenant.

1. Screening

The tenant must be pre-approved through a verification process performed by our partner, Homeppl, for the guarantee to apply.

2. Booking conditions

The property will be rented without deposit. Your coverage is bigger than the deposit and hence it is not needed. All Bills and expenses should be included as part of the total monthly rent price. Any expenses to be paid outside the rent price will not be covered by the guarantee.

3. Digital contract

Spotahome will provide a standard contract for both the tenant and the landlord to sign digitally

4. Check in

At check in you will host the tenant and will need to sign an inventory with the Tenant for the damages guarantee to apply.

5. Rent collection

Spotahome will be in charge of managing the collection of rents from the Tenant.The first month will be settled by the payment deposited by the Tenant through the Spotahome platform within 48 hours after the Tenant's successfully checks in. The rest of the monthly payments will be settled by Spotahome within the first ten (10) days of the month

6. Direct debit

If the booking is in UK, you should pay Spotahome fees via the direct debit solution and be up to date with all your payments to be covered by the guarantee.

7. Guarantee

The guarantee is not an insurance. It is a guarantee offered to the tenant so that they can rent with no deposit and have their obligations covered. In case the guarantee needs to be used, the tenant will have to pay back to the company providing the guarantee.

8. Guarantee

The current guarantee includes rental protection for up to 6 months from the moment the tenants stops paying until the end of the contract. If the tenant remains in the property beyond the end of the contract the guarantee will cover a maximum of 6 months or until the tenant is evicted - whichever comes first. If you need more than 6 months guarantee contact our agents and we can review it for you

9. Damages

It covers damages caused by tenants in the property, up to a maximum of 2 months rental value.

10. Early exit

If the tenant leaves without giving 30 days' notice, we will pay their share of rent until we are able to send you a tenant, for up to the remaining days until the 30 days notice period.

11. Contract modifications

Any extension, contract modification or reduction in the contract dates should be communicated to Spotahome and the contract amended, so that the rent collection continues and the guarantee is extended. Any further fees for contract extension could be paid to Spotahome monthly, deducted from the tenant share of rent. If the contract is reduced because the tenant leaves early with 30 days notice period and no guarantee applies, Spotahome will provide a refund of the prorrata of the fee paid by the Landlord,  once deducted the cost of the guarantee (3%).

You can read more on the terms and conditions

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