Discounted rent is made possible by hosting; in exchange for hosting guests in a separate, private area of the home, you pay a rent rate significantly lower than the full market rent of the home.
What is the monthly rent discount on my home?
The difference between the full rent and your Discounted Rent rate is your monthly rent discount.
For example: if your home's full rent is $3,200 and your Discounted Rent rate is $2,000, your monthly rent discount is $1200.
How do I earn Discounted Rent?
Every day you live in your Loftium home and fulfill your host responsibilities, you earn a Daily Discount. Your Daily Discounts total up to one, big monthly discount. This monthly rent discount is subtracted from the full rent to get to your Discounted Rent.
For example: if your home's full rent is $3,200 and your Discounted Rent is $2,000, your Daily Discount is $40 ($1,200 monthly discount / 30 days). Each day you complete your host responsibilities, you knock $40 off your rent.
Part way through the month At the end of the month
Will I have to pay more if my space doesn't get booked? (No!)
Your Discounted Rent rate does not depend on how your guest space performs
The cornerstone of hosting and renting with Loftium is that, as long as you fulfill your responsibilities as a good, hospitable host, you will never pay more than your Discounted Rent, even if your guest space doesn't get booked. In the example above, even if you had no bookings throughout the month of September, you'd still earn Daily Discounts based on satisfying the host responsibilities.
Will I get a heads-up if I'm at risk of losing a Daily Discount? (Yes!)
If a hosting responsibility hasn't been met, you will receive an automatic notification in advance of losing a Daily Discount. You'll have a chance to remedy issues, like reverting your settings back to the required ones or unblocking calendar nights. Should a guest request a refund due to a missed core-hosting obligation - like you totally forgot to clean and they checked into a messy unit - you may lose Daily Discounts for the guest reservation, but these are rare instances and we'll contact you! In any case, it's easy to earn Daily Discounts and losing them is very rare as long as you stay on top of hosting responsibilities!