How does Cocom work?
A renter (Host) publishes a space, and the rentee (Guest) makes a request for a specific date and time. The Host can either accept or deny the request.
This request says open for 24 hours until the Host takes action. If the host accepts the request the Guest will be prompted to pay as soon as the booking is confirmed. The guest has 1 hour to pay. If not, the booking will be automatically cancelled. As soon as the booking is confirmed via payment, both parties will get a confirmation. The host allows the guest to use the space and receives their money 14 days later on their stripe account ( from 100 euros and higher and after payment).
Can everyone place a "day-space"?
Basically, anyone can put a day-space on it. For example, you can put your garden on it or a
room with a piano for example. As long as the space meets our standards then you are
welcome. (Link to standards) Yes everyone can place a space on the app.
Is the app free? How is this possible?
The app is free! You can create a free account as a rentee or renter and even publish a space
for free. Only when you receive a booking as a renter, a service fee of 15% on top of your
asking price will be charged. So be sure that you set your price high enough to get the
desired return.
Are there any costs if I want to rent out my space?
You can publish a space for free. As long as nobody books, you don't have to pay. As soon as
there is a booking, a service fee of 15% is charged on top of your asking price.
Can I decline an application?
Yes, you can reject an application, with or without a reason. Suppose it doesn't work out
with your schedule or something has come up, you can always refuse for free. Please note!
Once the booking is confirmed, there are costs associated with canceling. Please check our
cancellation policy.
When will I get paid?
Hosts will receive a payout option once the total earnings reach a minimum of EUR 100. A
payout can be requested once each calendar month.
Will I get paid if a guest cancels?
Depending on the time before the start of the booking, the Host will receive different
percentages of their asking price.
If a Guest cancels a confirmed and paid reservation less than 7 days, but more than 48 hours
before the start of the use of Services, then such cancellation is subject to a cancellation fee of
60%. The balance will be rewired onto the Guest's account. Cocom will charge its 15%
Cocom Fee, and the balance of 45% is payable to the Host.
If a Guest cancels a confirmed and paid reservation less than 48 hours before the start of the
use of Services, then such cancellation is non-refundable. Cocom will charge its 15% Cocom
Fee, and the balance of 85% is payable to the Host.
costs related to the transaction (including the payment processing and refund fees charged by
service providers).
What happens to my payout if I cancel my guest's booking?
If you cancel a guest's booking, your monthly payout will not be affected; however, you will
be charged a cancellation fee.
If a Host cancels a confirmed and paid reservation more than 7 days prior to commencement
of the booking, such cancellation is subject to a cancellation fee of €50, plus actually incurred
costs related to the transaction (including the payment processing and refund fees charged by
service providers). The total amount will be invoiced to the Host, and the Host agrees to pay
the total amount within 15 days following receipt of the invoice. The Guest will receive a
complete refund.
If a Host cancels a confirmed and paid reservation less than 7 days prior to commencement
of the booking, such cancellation is subject to a cancellation fee of €100, plus actually
incurred.