All payments are executed through the Peerspace platform and are processed by our third-party payment provider, Stripe.
To book a space, guests must send a booking request to the host through our platform, which places an authorization hold on their credit or debit card for 2 business days in order to ensure the funds are available. Booking requests expire after 2 business days, at which point the hold is automatically released.
Guests are charged in full as soon as the booking request is accepted by the host, which confirms the reservation. At that point, the Peerspace Cancellation and Refund policy takes effect.
Host payouts will be deposited into the bank account they have on file with us via ACH transfer (direct deposit) and are processed within 7 days of the start of the reservation. If a guest stays in the space beyond the hours they have reserved, the host must let the Peerspace team know about the overtime within 3 days of the booking taking place for it to be charged.
Hosts may be required to submit additional verification details when adding their bank account for payout processing. Review our Terms & Conditions for more information on receiving booking payments and paying to reserve a space.