I had someone here today that is interested in renting my house for a shoot. He was asking me about the processing fee that he would be charged. I was surprised. I didn’t realize that peerspace takes a cut from both him and from me. I know that they take 15% from me. He showed me his screen and I couldn’t even figure it out. What % does peerspace take from him? Like I said I wasn’t aware of it.
Thank you,
Joanna
Hi @Joanna_B , yes there is a processing fee applied to guest at the time of booking. The fee is variable and is calculated based on the subtotal of the booking. Once the guest enters their booking details the fee will be calculated and displayed.
Thanks,
Rony
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Yeah took me a bit to catch that too but i don’t think it is a set % …maybe some sort of sliding scale ? but yeah they are no dummies they take a piece off both ends.
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Hey @Matt_T
Airbnb has the same split fees as well. I don’t like that there are so many fees everywhere. There is another company which says that they take 15% but it averages about 16-17% because of their processor fees(which to this day they can not figure out why I am being hit with the fee).
If you are not getting the amount of business you are looking for PM me, I would love to go over your profile.
It’s called double-dipping and it used to be un-ethical. I guess times are changing.
I don’t know the percentage.
Kat, the percentage split is visible on every transaction on the platform, and the split fees between the host and consumer do not constitute double-dipping - Peerspace has been very transparent about their fee structure. Double dipping is typically illicit in nature, this is a straightforward, transparent fee structure, and it’s a little better than average by market standards.
Peerspace previously charged a 20% fee exclusively to the host, but after consulting with many of us, they decided to shift 5% of the fee to the consumer to make it easier for hosts to keep our profit margins reasonable while keeping themselves in business.
Both the seller AND the buyer are benefiting from the Peerspace service so it makes sense for them to share the burden of the fee involved, but to keep things fair, they only shifted a small portion of the fee to the consumer.
They also made it very transparent - you can see their calculations in your own transactions and the buyer can see it in theirs as well.
Peerspace spends millions of dollars marketing our spaces for us and keeping the Peerspace ad at the top level of Google and other search engines, and the fee structure is one of the most reasonable in the industry (compared to Liquid Space and Da Vinci, for instance). Most of us wouldn’t have nearly the number of bookings we get without them.
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