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The Homestay Company (THC) aims to provide flexibility and clarity for tenants while ensuring a smooth rental process. This policy outlines the terms regarding refunds, cancellations, and obligations for tenants who rent properties from THC. By confirming a booking with THC, you agree to the terms set forth below.
Booking Confirmation and Token Advance:

  • To confirm a rental booking, tenants are required to pay a token advance equivalent to half a month’s rent.

  • Once the token is paid, THC will initiate the process of finalizing the rental bond with Eqaro Surety Pvt. Ltd. and signing the rental agreement through Spotdraft.

  • No refunds of the token advance will be issued after the rental bond and agreement signing. This is a non-refundable payment, regardless of the circumstances.

Payment Terms

  • Move-in Payment: The remaining balance of the first month’s rent must be paid by the tenant on or before the move-in date.

  • Monthly Rent: Rent must be paid within the first five days of every month. Rent invoices will be generated on the 1st of each month, and once paid, THC will issue rent receipts for the payment.

Lock-in Period and Termination

  • Each rental property is subject to a lock-in period, which can vary based on the agreement. The lock-in period will be specified in the rental agreement.

  • During the lock-in period, tenants cannot terminate the tenancy unless a valid reason is provided. The tenant must submit a formal request to THC, and THC will evaluate the case on a case-by-case basis.

  • If THC does not approve the termination request, the tenant must:

    • Continue fulfilling their rental obligations until the end of the lock-in period.

    • Pay a penalty if they choose to leave the property without THC’s approval, which may be up to the total rental bond amount. Failure to pay the penalty will result in THC raising a claim with Eqaro Surety Pvt. Ltd., who will pursue recovery through their partners.

Notice Period

  • After the lock-in period ends, a tenant wishing to vacate the property must provide at least one month’s notice to THC.

  • The notice period is mandatory and cannot be waived. If the tenant fails to provide the notice or vacates the property without approval, THC will initiate a rental bond claim with Eqaro to recover any outstanding rent or damages.

Early Termination and Eviction

  • If a tenant wishes to terminate the tenancy before the end of the lock-in period, they must submit a valid request to THC. Approval of early termination is at THC’s sole discretion.

  • If the tenant leaves the property without obtaining approval or without fulfilling the lock-in period requirements, THC will:

    • Raise a rental bond claim with Eqaro Surety Pvt. Ltd. to cover any financial losses.

    • Pursue further recovery actions through Eqaro and its partners if the tenant fails to pay outstanding penalties or rent.

Rental Bond and Eqaro Claim

  • The rental bond is managed by Eqaro Surety Pvt. Ltd., which guarantees the rent and provides security in the event of non-payment or violation of tenancy terms.

  • In the event of an early eviction, unpaid rent, or damages beyond normal wear and tear, THC will submit a claim to Eqaro for the full bond coverage or as determined by the situation.

  • Further information about Eqaro Surety and the rental bond process can be found on Eqaro Guarantees’ website.

Penalties and Dispute Resolution

  • Tenants who violate the terms of the tenancy or leave the property prematurely without THC approval may be subject to a penalty, which can be up to the total rental bond amount.

  • Disputes related to early termination, bond claims, or other contractual issues will be resolved through THC’s internal processes or, if needed, by referring the matter to Eqaro Surety Pvt. Ltd. and their recovery partners.

Changes to the Policy
THC reserves the right to update or modify this Refund and Cancellation Policy at any time. Any changes will be reflected on our website, and tenants are encouraged to review the policy regularly.

Contact Us
For questions regarding this Refund and Cancellation Policy or to submit a termination request, please contact us:
The Homestay Company (THC)
Email: support@thehomestaycompany.com
Phone: +91-080-69641099/+91-8856-890830