Neighbor takes the work out of collecting payments from your renter each month by automatically charging their credit card on the renewal date (the same date each month as their start date). Your renter pays when they place their request so when you receive a reservation request the renter has already paid for the space.
Plus with Neighbor's Payout Protection, your automated payouts are guaranteed by Neighbor even if your renter stops paying.
When will I receive my payout?
Your renter pays at the beginning of the rental period and you'll be paid at the end of the 30-day rental period to ensure that the renter is allowed to store for the entire month.
Your Payout History page will show prior and future payouts. Depending on processing time of your bank, you can expect the payout to arrive in your bank account 2-3 days after being sent by Neighbor.
How do I receive my payouts?
On the same day each month your payout is transferred to you via direct deposit through Stripe, our secure payment platform, until the rental is canceled.
To begin receiving payouts, connect your bank account from the Payment Method section of your profile. Click "Connect Bank Account" and follow the prompts. Check out this quick video tutorial if you need help getting connected.
Are there processing fees?
Payouts are subject to a 4.9% + $0.30 processing fee to provide automated billing, Payout Protection and Neighbor's $1M Host Guarantee.
Are payments ever prorated?
Your payout will never be prorated. Your rental agreements are month-to-month and even if the renter moves out before the end of their rental month you will still receive your full payout.
Renters are required to cancel their rental after they remove their items to end future payments.
Is my bank information safe?
Neighbor does not store your bank account or other sensitive information. Instead, it is stored off-site by Stripe, our payment gateway, on their encrypted and PCI-compliant servers. Stripe is a secure, online platform used by hundreds of thousands of vendors word-wide including Amazon and Target. In addition, the green lock symbol and https:// in the URL bar of your browser shows that Neighbor's website is secure and encrypted.