I had a booking for a video shoot last weekend and have still not received a payout for my event. The payout is listed as “Scheduled.” I’ve been unable to reach any support team members. Can you please provide information as to when I will receive the payout?
I had a nine day booking valued at $4,000 (after peerspace fees) and the payment doesn’t even show as scheduled.
I’m fairly sure that Peerspace is out of money and isn’t going to pay hosts. I’d love to be wrong on this, but I’m probably not.
My suggestion is to move past it and when things eventually go back to normal, file a lawsuit and make sure that your experiences are well noted. There should be no way that a company can burn hosts and guests and then go back in business like nothing happened.
I’m giving it a few more days to allow for the benefit of the doubt.
your payout was stuck in our systems for some reason. We had the same issue with another payout last week that someone highlighted. Apologies.
Your payout will be sent today.
Thanks for your concern about Peerspace. We have taken a major beating but we are still alive.
I realize you are not a position to assess Peerspace’s financial health so let me address your concerns.
We intend to make good on every host payout that has been earned.
I made drastic changes to the Peerspace team this week (as described here) to ensure that we could make good on our commitments to hosts.
Don’t interpret slowness in our response right now as us trying to side-step our commitments. We are incredibly backed up with customer support requests.
It appears that our Customer Experience team is already in contact with you. I will look into what is happening with this booking today.
fair enough, @Eric; I really do appreciate the direct reply back addressing my concern, because it’s been some time and I’ve read some pretty shocking stuff on Twitter, FB and Insta.
During that booking, I had tried to contact Peerspace, as I learned that my guests were filming illegally (no permit) and had made a couple of threats towards me. That’s when this all started, as I couldn’t reach anyone from Peerspace. I had even tried tweeting you directly out of desperation.
EDIT: I strongly strongly stroooooongly recommend making insurance a requirement for guests to book a space.
With insurance, many of the guests could have filed insurance claims.
By allowing people to book without insurance, it puts the buck on both Peerspace as a platform as well as the hosts. Neither of us can afford to cover in an emergency like this. It ends up with hard feelings towards Peerspace, towards hosts and towards booking production or event spaces as a whole.
I’ve said this many times (and I require insurance for people renting my home), but event and production insurance provide a buffer.
I was recently told that I was ‘fear mongering’ by presenting situations that are unexpected, rare and extreme, but that’s the thing: every insurance case is unexpected, rare and extreme. After all, who would have guessed that we would have a worldwide pandemic?
I just replied back to Sergio and I am hoping for good things. Thank you again Eric.
Thanks for the update Eric, I appreciate it.
Hey Deacon, does standard production insurance cover a cancellation? My impression is that it is primarily liability coverage. Likewise, the event insurance we recommend via The Event Helper is just liability as well, from what I can tell. I don’t think either would help in this situation.
And even event cancellation insurance might not cover this situation without a specific rider stating so. From one insurance blog:
"A standard event cancellation insurance policy typically covers cancellation due to events beyond your control. That usually means an act of God or other circumstance that damages a scheduled venue. Coronavirus would generally fall under communicable disease coverage. This option is often add-on coverage or a rider to an event cancellation policy that may be available for an additional premium.
Without an existing rider, you’re responsible for any costs resulting from events canceled due to coronavirus concerns."
I’m very glad you asked, as my father was in the insurance insurance industry for around 45 years (liability, life, business, etc) and I was a claims adjuster for WPS insurance in Wisconsin, and in provider services for EDS.
Strangely enough, insurance is something I know a little bit about.
Good Event insurance covers cancellations due to catastrophe or other events out of ones’ control. I’ve never heard of a separate rider for a disease outbreak and any company that required such is pretty crappy. I’d actually like to look at a policy with that many riders, out of sheer morbid curiosity.
It would be like an auto insurance company requiring a separate rider if you’re hit by a red car, or another rider if you’re hit by a Honda - it doesn’t make sense for an insurance policy to be so incomplete, but then again, it has been a long time since I’ve worked in insurance.
https://www.progressive.com/special-event-insurance/ Would cover it And I received a special email from Geico (who also offers event insurance) that cancellations due to COVID-19 would be covered.
At the very least though, it takes the heat off the rental platforms and places it on the insurance companies, as it’s no longer the fault of the platform, but on the quality of insurance that the guest books. if they choose to buy crappy coverage, then that becomes their problem.
That layer of obfuscation should be integral to every booking platform.
I recall waaaaaay back when I was a wedding photographer. I had a pretty strict cancellation policy and there were a few times when I was questioned about it.
I was dead honest and told them that if they cancelled, I might not be able to afford to refund them and so I didn’t offer refunds for that reason. I’d rather lose a client up front than lie to them and tell them everything will be okay, while hoping for the best.