Why choose Flatio to advertise your properties? Check out the benefits of the platform and see how the whole process works!
—
How does Flatio work?
Flatio is the smart way to rent. Through our online platform, we match tenants with properties available especially for monthly stays. At this moment, the minimum possible reservation length is 5 days, while the maximum is not limited. You as a landlord always have the option to set up your own limitations of the preferred reservations' length so you get only bookings that suit your needs.
The rental process on Flatio starts with a landlord entering details about a property they'd like to rent. Flatio reviews the listing and then displays it on our platform. Now potential tenants can see it when they search for an accommodation.
When a potential tenant finds an interesting accommodation, they send a reservation request. The landlord receives an email and a text message notification. The landlord has 24 hours to accept or reject the request, but Flatio recommends that landlords make a decision as soon as possible. The reason is that tenants can send more than one request at a time and may choose an alternative listing if their other reservation request is accepted sooner.
Once the landlord has accepted a reservation request, the potential tenant has 24 hours to complete the necessary paperwork. To do so, they must sign the lease agreement online, upload a copy of their ID, and submit the first rent payment to Flatio. If these steps aren't completed within the 24-hour period, the landlord has the right to cancel the reservation and list the property again.
Once all the paperwork is done, the lease agreement becomes valid and is binding for both parties, with all the rights and obligations. Any changes (e.g. addition to the lease agreement, extension of the lease agreement, or terminating the lease agreement) must be approved by both parties.
The lease agreement shall contain a breakdown of all rent payments and their respective due dates. The tenant transfers each payment to the Flatio collection account, from which the commission fee is deducted (the current commission rate is 5% (+ VAT) for private rooms and 7.5% (+ VAT) for whole properties).
The remainder is transferred to the landlord's bank account on the next working day (except for the forwarding of the first rent as mentioned below). You can find more information here.
Once the lease agreement is signed and other paperwork is completed, Flatio will share the contact information of the landlord and tenant so they can arrange the handover of the accommodation. The standard time for the handover is set by the landlord for each property and is officially stated in the lease. However, it is also possible to agree on an individual time change if necessary.
During the handover, don't forget to fill out and sign the Handover Protocol and document the accommodation with photos. Three days after the start of the lease agreement, Flatio automatically forwards the first rent to the landlord.
Since many different situations can arise during a tenancy, we recommend that landlords be available in case their tenants need to contact them. In any case, even in the few cases where it's necessary to terminate a lease agreement and evict a tenant, Flatio's Customer Care team is available to you every day to guide both parties to a solution.
When the lease agreement ends and your tenant moves out, we recommend that you take over the accommodation in person. This way you can check the accommodation immediately, sign the Takeover Protocol together with the tenant (including recording all the necessary information, e.g. damages and their compensation) and document the condition of the accommodation with photos. You can read more about how to handle problematic situations in this article.
After the end of the stay, we ask you to write a review of the tenant and, if necessary, update the data in your property listings.
