Do you have any questions about how the rent works, about payment delays, or the risk of non-payment? Here are the answers to your questions:
⚙️ How does it work?
At Colette, payments are automatic. We work with a third-party partner called STRIPE, a secure platform that handles payments to our hosts.
Once your host profile is created, you can enter your bank account details manually. Simply go to "Payments" and open the STRIPE billing portal.
STRIPE takes care of:
Collecting the rent from the tenant's account
Colette then deducts two commissions (the host's and the tenant's) from the rent paid
Finally, Colette transfers the rent to the host's account
⏳ Payment period?
Rent is collected every month on the same date the tenant moved in.
After that, it will take a maximum of 5 to 7 business days (excluding Saturday and Sunday) to receive this amount in your account. Unfortunately, this 5 to 7 day period is unavoidable and is imposed by our Stripe payment platform.
We remind you that our team handles the daily follow-up of rent payments. Colette guarantees rent payments at the end of each month.
🤷🏽♀️ I still haven't received my rent?
👉 Please write to us at hotes@colette.club about this.
We will check your Stripe account and get back to you as soon as possible with the date of the last rent received.
📆 How does pro rata payment work?
The last month's rent is always paid on a pro rata basis at Colette.
Pro rata means 'in proportion to.' This means that the amount paid is proportional to the number of days spent in the accommodation. If the contract ends in the middle of the month, the tenant will only pay half of the rent for that month.
🏁 In case of late payment?
In case of payment failure, a new payment attempt is automatically rescheduled 3 days later. Payment failure does not affect the following months. So, if payments are normally made on the 1st of the month and a payment is made on the 7th, the next payment will still be executed on the 1st of the following month.
🙅 What if the tenant doesn't pay the rent?
To avoid any financial issues between the host and the tenant, Colette directly handles the payment of rents. Each rent will be automatically transferred to you by Colette directly.
🧾 Payment summary?
With each payment made, you will automatically receive an email confirmation with the details and proof of payment.
You can also have a summary of the payments as a host by logging into your Colette account, clicking on the "My Account" tab -> "My Payments" -> "Billing Portal" (you will receive a confirmation code via SMS).
🖇️ I want to know more about my Stripe account.