A summary of SpacetoCo's Space protection measures.
When people hire spaces, it has been common practice for the space owner to ask you for a cash bond which they hold in the event of any issues. The bond is usually returned to you after you have finished using the venue. The problem with the bond is that it slows down the bookings process, comes with potential security issues, is rarely retained, and is an all-round hassle for the guest and the hirer. Our early research told us that hirers and guests don't like bonds.
So we created SpaceProtect for a simple, cashless, dispute-resolution flow that is handled quickly and online.
Most SpacetoCo guests will never need to interact with SpaceProtect, but in the event of an issue that results in a SpaceProtect claim, here is what happens.
- There has been an incident where the space host will be left with an out of pocket expense (e.g. key not returned, damaged property, security alarm triggered etc...)
- The host will speak with you about the incident and completes a SpacetoCo claim form with evidence as to why there is a claim request.
- SpacetoCo considers the claim and will charge your card for the amount being claimed. This amount is passed over to the host minus the SpacetoCo nominal claim fee.
When you make a booking on SpacetoCo and agree to our Terms and Conditions at checkout, you are accepting that you could be charged for a claim that is made by your host. In our experience, most issues are resolved before they result in a claim. If you feel you have been incorrectly charged, please contact us.
If your hire is deemed to come with a degree of risk, then the host may elect to hold a SpaceProtect claim before your space hire. This is known as a pre-event claim. If there are no issues with the booking, then the amount being held is released to your payment card automatically.