What are Rent Credits?

Rent Credits are the amount you earn for each booking!

Loftium renters earn Rent Credits as bonuses for each completed guest booking! More completed Airbnb bookings = more cash in pocket for you. 💰

Your household earns a Rent Credit when the Airbnb reservation was completed, and your guest had a good, clean stay, with prompt communication from you!

Rent Credits are a set amount per reservation (i.e. a booking for 3 nights or a booking for 1 night would each be 1 Rent Credit.) The amount for your Rent Credit is predetermined, primarily by the number of guests your Airbnb can host. 

 

How and when do I receive my Rent Credits?

Rent Credits are paid out to your household twice per month by ACH direct deposit.

If you signed your lease earlier than October 9, 2019, you may receive Rent Credits through Bill.com.

Bookings between the 1st and the 15th day of the month are paid out around the 16th, and bookings between the 16th and the end of the month are paid around the 2nd of the following month.

Bookings are counted toward their Rent Credit payout period not on the day that the reservation starts, but instead, based on the date 24 hours after check-in.

For example:

  • A guest who checks in on August 31st would be confirmed on September 1st. This booking would be part of your Rent Credits paid out around September 16th
  • A guest who checks in on September 15th would be confirmed on September 16th. This booking would be part of your Rent Credits paid out around October 2nd

We do our best to issue your payouts as timely as possible. On occasion, these may be delayed by 1-3 business days if the 2nd or 16th falls on a weekend, holiday, or in other rare cases. If you have any questions on the status of your Rent Credit payout, reach out to us at rentersupport@loftium.com. 

 

Anything else I should know about Rent Credits?

The Rent Credits you earn will likely be considered taxable income. When you sign a lease with us, we'll ask you to fill out a W-9, and once tax season rolls around, you'll fill out a 1099 form. More on our article linked here!

If you signed your lease before October 9, 2019, we always recommend getting ePayments set up as soon as possible on Bill.com when you sign up. This makes sure that your Rent Credits are paid out to your bank account via direct deposit, so they get to you as soon as possible!