Last Updated: February 06, 2020
Terms of Service
Please read these Terms and Conditions (“Terms”) carefully as they contain important information about your legal rights, remedies, and obligations. By accessing or using the FlexStay Rentals Platform, you agree to comply with and be bound by these Terms.
These Terms constitute a legally binding agreement (“Agreement“) between you and Peng Ventures Limited located at Room 9, 4/F, Beverley Commercial Centre, 87-105 Chatham Road South, Tsim Sha Tsui, Kowloon Hong Kong governing your access to and use of the FlexStay Rentals website, including any subdomains thereof, and any other websites through which FlexStay Rentals makes its services available (collectively, “Site“), our mobile, tablet and other smart device applications, and application program interfaces (collectively, “Application“) and all associated services (collectively, “FlexStay Rentals Services“). The Site, Application, and FlexStay Rentals Services together are hereinafter collectively referred to as the “FlexStay Rentals Platform”.
Hosts alone are responsible for identifying, understanding, and complying with all laws, rules and regulations that apply to their Listings and Host Services. For example, some cities have laws that restrict their ability to host paying guests for short periods or provide certain Host Services. In many cities, Hosts may have to register, get a permit or obtain a license before providing certain Host Services (such as preparing food, serving alcohol for sale, guiding tours or operating a vehicle). Host alone are responsible for identifying and obtaining any required licenses, permits, or registrations for any Host Services they offer. Certain types of Host Services may be prohibited altogether.
1. Scope of FlexStay Rentals’ Services
1.1 The FlexStay Rentals Platform is an online marketplace that enables registered users (“Members”) and certain third parties and affiliated parties who offer services (Members, affiliated parties and third parties who offer services are “Hosts” and the services they offer are “Host Services”) to publish such Host Services on the FlexStay Rentals Platform (“Listings”) and to communicate and transact directly with Members that are seeking to book such Host Services (Members using Host Services are “Guests”). Host Services may include the offering of vacation or other properties for use (“Accommodations”), single or multi-day activities in various categories (“Experiences”), access to unique events and locations (“Events”), property management (“Property Management”) and a variety of other travel and non-travel related services.
1.2 As the provider of the FlexStay Rentals Platform, FlexStay does not own, create, sell, resell, provide, control, manage, offer, deliver, or supply any Listings or Host Services, nor is FlexStay Rentals an organiser or retailer of travel packages under Directive (EU) 2015/2302. Hosts alone are responsible for their Listings and Host Services. When Members make or accept a booking, they are entering into a contract directly with each other. FlexStay Rentals is not and does not become a party to or other participant in any contractual relationship between Members, nor is FlexStay Rentals a real estate broker or insurer. FlexStay Rentals is not acting as an agent in any capacity for any Member.
1.3 While we may help facilitate the resolution of disputes, FlexStay Rentals has no control over and does not guarantee (i) the existence, quality, safety, suitability, or legality of any Listings or Host Services, (ii) the truth or accuracy of any Listing descriptions, Ratings, Reviews, or other Member Content, or (iii) the performance or conduct of any Member or third party. FlexStay Rentals does not endorse any Member, Listing or Host Services. Any references to a Member being “verified” (or similar language) only indicate that the Member has completed a relevant verification or identification process and nothing else. Any such description is not an endorsement, certification or guarantee by FlexStay Rentals about any Member, including of the Member’s identity or background or whether the Member is trustworthy, safe or suitable. You should always exercise due diligence and care when deciding whether to stay in an Accommodation, participate in an Experience or Event or use other Host Services, accept a booking request from a Guest, or communicate and interact with other Members, whether online or in person. Verified Images are intended only to indicate a photographic representation of a Listing at the time the photograph was taken, and are therefore not an endorsement by FlexStay Rentals of any Host or Listing.
1.4 If you choose to use the FlexStay Rentals Platform as a Host, your relationship with FlexStay Rentals is limited to being an independent, third-party contractor, and not an employee, agent, joint venturer or partner of FlexStay Rentals for any reason. Through the use of FlexSay Rentals Platform, you are acting exclusively on your own behalf, and for your own benefit; and not on behalf, or for the benefit of FlexStay Rentals. FlexStay Rentals does not, and shall not be deemed to generally direct or control you or your performance under these Terms, specifically, including in connection with your provision of Host Services. You acknowledge and agree that you have complete discretion whether to list Host Services or otherwise engage in other business or employment activities.
1.5 To promote the FlexStay Rentals Platform and to increase the exposure of Listings to potential Guests, Listings and other Member Content may be displayed on other websites, in applications, within emails, and in online and offline advertisements. To assist Members who speak different languages, Listings and other Member Content may be translated, in whole or in part, into other languages. FlexStay Rentals cannot guarantee the accuracy or quality of such translations and Members are responsible for reviewing and verifying the accuracy of such translations. The FlexStay Rentals Platform may contain translations powered by Google. Google disclaims all warranties related to the translations, express or implied, including any warranties of accuracy, reliability, and any implied warranties for merchantability, fitness for a particular purpose and non-infringement.
1.6 The FlexStay Rentals Platform may contain content or links to third-party websites or resources (“Third-Party Services”). Such Third-Party Services may be subject to different terms and conditions and privacy practices. FlexStay Rentals is not responsible or liable for the availability or accuracy of such Third-Party Services, or the content, products, or services available from such Third-Party Services. Links to such Third-Party Services are not an endorsement by FlexStay Rentals of such Third-Party Services.
1.7 Due to the nature of the Internet, FlexStay Rentals cannot guarantee the continuous and uninterrupted availability and accessibility of the FlexStay Rentals Platform. FlexStay Rentals may restrict the availability of the FlexStay Rentals Platform or certain areas or features thereof, if this is necessary in view of capacity limits, the security or integrity of our servers, or to carry out maintenance measures that ensure the proper or improved functioning of the FlexStay Rentals Platform. FlexStay Rentals may improve, enhance, and modify the FlexStay Rentals Platform as well as introduce new FlexStay Rentals Services from time to time.
2. Eligibility, Using the FlexStay Rentals Platform, and Member Verification
2.1 In order to access and use the FlexStay Rentals Platform or register a FlexStay Rentals Account, you must be an individual at least 18 years old or a duly organized, validly existing business, organization, or other legal entity in good standing under the laws of the country you are established and able to enter into legally binding contracts.
2.2 You will comply with any applicable export control laws in your local jurisdiction. You also represent and warrant that (i) neither you nor your Host Service(s) are located or take place in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country, and (ii) you are not listed on any U.S. Government list of prohibited or restricted parties.
2.3 FlexStay Rentals may make access to and use of the FlexStay Rentals Platform, or certain areas or features of the FlexStay Rentals Platform, subject to certain conditions or requirements, such as completing a verification process, meeting specific quality or eligibility criteria, meeting Ratings or Reviews thresholds, or a Member’s booking and cancellation history.
2.4 User verification on the Internet is difficult and Flexstay Rentals does not assume any responsibility for the confirmation of any Member’s identity. Notwithstanding the above, for transparency and fraud prevention purposes, and as permitted by applicable laws, we may, but have no obligation to (i) ask Members to provide a form of government identification or other information, or undertake additional checks designed to help verify the identities or backgrounds of Members, (ii) screen Members against third-party databases, or other sources, and request reports from service providers, and (iii) where we have sufficient information to identify a Member, obtain reports from public records of criminal convictions or sex offender registrations or an equivalent version of background or registered sex offender checks in your local jurisdiction (if available).
2.5 The access to or use of certain areas and features of the FlexStay Rentals Platform may be subject to separate policies, standards, or guidelines, or may require that you accept additional terms and conditions, before you can access the relevant areas or features of the FlexStay Rentals Platform. If there is a conflict between these Terms and the terms and conditions applicable to a specific area or feature of the FlexStay Rentals Platform, the latter terms and conditions will take precedence with respect to your access to or use of that area or feature, unless specified otherwise in the latter terms and conditions.
3. Modification of these Terms
FlexStay Rentals reserves the right to modify these Terms at any time in accordance with this provision. If we make changes to these Terms, we will post the revised Terms on the FlexStay Rentals Platform and update the “Last Updated” date at the top of these Terms. We will also provide you with notice of the modifications by email at least ten (10) days before the date they become effective. If you disagree with the revised Terms, you may terminate this Agreement with immediate effect. We will inform you about your right to terminate the Agreement in the notification email. If you do not terminate your Agreement before the date the revised Terms become effective, your continued access to or use of the FlexStay Rentals Platform will constitute acceptance of the revised Terms.
4. Account Registration
4.1 You must register an account (“FlexStay Rentals Account”) to access and use certain features of the FlexStay Rentals Platform, such as publishing or booking a Listing. If you are registering an FlexStay Rentals Account for a business, organization or other legal entity, you represent and warrant that you have the authority to legally bind that entity and grant us all permissions and licenses provided in these Terms.
4.2 You can register a FlexStay Rentals Account using an email address and creating a password, or through your account with certain third-party social networking services, such as Facebook or Google (“SNS Account”).
4.3 You must provide accurate, current, and complete information during the registration process and keep your FlexStay Rentals Account and public FlexStay Rentals Account profile page information up-to-date at all times.
4.4 You may not register more than one (1) FlexStay Rentals Account unless FlexStay Rentals authorizes you to do so. You may not assign or otherwise transfer your FlexStay Rentals Account to another party.
4.5 You are responsible for maintaining the confidentiality and security of your FlexStay Rentals Account credentials and may not disclose your credentials to any third party. You must immediately notify FlexStay Rentals if you know or have any reason to suspect that your credentials have been lost, stolen, misappropriated, or otherwise compromised or in case of any actual or suspected unauthorized use of your FlexStay Rentals Account. You are liable for any and all activities conducted through your FlexStay Rentals Account, unless such activities are not authorized by you and you are not otherwise negligent (such as failing to report the unauthorized use or loss of your credentials).
4.6 FlexStay Rentals may enable features that allow you to authorize other Members or certain third parties to take certain actions that affect your FlexStay Rentals Account. No third party is authorized by FlexStay Rentals to ask for your credentials, and you shall not request the credentials of another Member.
5.1 FlexStay Rentals may, at its sole discretion, enable Members to (i) create, upload, post, send, receive and store content, such as text, photos, audio, video, or other materials and information on or through the FlexStay Rentals Platform (“Member Content”); and (ii) access and view Member Content and any content that FlexStay Rentals itself makes available on or through the FlexStay Rentals Platform, including proprietary FlexStay Rentals content and any content licensed or authorized for use by or through FlexStay Rentals from a third party (“FlexStay Rentals Content” and together with Member Content, “Collective Content”).
5.2 The FlexStay Rentals Platform, FlexStay Rentals Content, and Member Content may in its entirety or in part be protected by copyright, trademark, or other laws of Hong Kong and/or other countries. You acknowledge and agree that the FlexStay Rentals Platform and FlexStay Rentals Content, including all associated intellectual property rights, are the exclusive property of FlexStay Rentals and/or its licensors or authorizing third-parties. You will not remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the FlexStay Rentals Platform, FlexStay Rentals Content or Member Content. All trademarks, service marks, logos, trade names, and any other source identifiers of FlexStay Rentals used on or in connection with the FlexStay Rentals Platform and FlexStay Rentals Content are trademarks or registered trademarks of FlexStay Rentals in Hong Kong and abroad. Trademarks, service marks, logos, trade names and any other proprietary designations of third parties used on or in connection with the FlexStay Rentals Platform, FlexStay Rentals Content, and/or Collective Content are used for identification purposes only and may be the property of their respective owners.
5.3 You will not use, copy, adapt, modify, prepare derivative works of, distribute, license, sell, transfer, publicly display, publicly perform, transmit, broadcast or otherwise exploit the FlexStay Rentals Platform or Collective Content, except to the extent you are the legal owner of certain Member Content or as expressly permitted in these Terms. No licenses or rights are granted to you by implication or otherwise under any intellectual property rights owned or controlled by FlexStay Rentals or its licensors, except for the licenses and rights expressly granted in these Terms.
5.4 Subject to your compliance with these Terms, FlexStay Rentals grants you a limited, non-exclusive, non-sublicensable, revocable, non-transferable license to (i) download and use the Application on your personal device(s); and (ii) access and view any Collective Content made available on or through the FlexStay Rentals Platform and accessible to you, solely for your personal and non-commercial use.
5.6 FlexStay Rentals may offer Hosts the option of having professional photographers take photographs of their Host Services, which are made available by the photographer to Hosts to include in their Listings with or without a watermark or tag bearing the words “FlexStay Rentals”, “Verified Photo” or other similar variations of wording (“Verified Images”). You are responsible for ensuring that your Host Service is accurately represented in the “Verified Images” and agree to stop using “Verified Images” on or through the FlexStay Rentals Platform if they no longer accurately represent your Listing, if you stop hosting the Host Service featured, or if your FlexStay Rentals Account is terminated or suspended for any reason. You acknowledge and agree that FlexStay Rentals shall have the right to use any Verified Images in accordance with Section 5.5 for advertising, marketing and/or any other business purposes in any media or platform, whether in relation to your Listing or otherwise, without further notice or compensation to you. Where FlexStay Rentals is not the exclusive owner of Verified Images, by using such Verified Images on or through the FlexStay Rentals Platform, you grant to FlexStay Rentals an exclusive, worldwide, royalty-free, irrevocable, perpetual (or for the term of the protection), sub-licensable and transferable license to use such Verified Images for advertising, marketing and/or any other business purposes in any media or platform, whether in relation to your Listing or otherwise, without further notice or compensation to you. FlexStay Rentals in turn grants you a limited, non-exclusive, non-sublicensable, revocable, non-transferable license to use Verified Images outside of the FlexStay Rentals Platform solely for your personal and non-commercial use.
5.7 You are solely responsible for all Member Content that you make available on or through the FlexStay Rentals Platform. Accordingly, you represent and warrant that: (i) you either are the sole and exclusive owner of all Member Content that you make available on or through the FlexStay Rentals Platform or you have all rights, licenses, consents and releases that are necessary to grant to FlexStay Rentals the rights in and to such Member Content, as contemplated under these Terms; and (ii) neither the Member Content nor your posting, uploading, publication, submission or transmittal of the Member Content or FlexStay Rentals’s use of the Member Content (or any portion thereof) as contemplated under these Terms will infringe, misappropriate or violate a third party’s patent, copyright, trademark, trade secret, moral rights or other proprietary or intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation.
5.8 You will not post, upload, publish, submit or transmit any Member Content that: (i) is fraudulent, false, misleading (directly or by omission or failure to update information) or deceptive; (ii) is defamatory, libelous, obscene, pornographic, vulgar or offensive; (iii) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (iv) is violent or threatening or promotes violence or actions that are threatening to any other person or animal; (v) promotes illegal or harmful activities or substances; or (vi) violates FlexStay Rentals’s Content Policy or any other FlexStay Rentals policy. FlexStay Rentals may, without prior notice, remove or disable access to any Member Content that FlexStay Rentals finds to be in violation of applicable law, these Terms or FlexStay Rentals’s then-current Policies or Standards, or otherwise may be harmful or objectionable to FlexStay Rentals, its Members, third parties, or property.
6. Pricing policy
6.1 Standard rate: You will provide us with one long term rental rate. We will mark-up that rate by THB 3,000 for the first month (this is the selling price you offer to the customer) and provide the given rate for any following month. The given rate will be divided by 30 to arrive at a nightly rate. The result will be a gradual decline of the average price paid, which should compensate you for the higher turnover of tenants.
6.2 Revenue management rate: In a market with a large supply of condominium, it is common practice to accept reasonable negotiations of the potential tenant. In order to help you to close the deal with a potential tenant, we can do the negotiation for you. If you want us to help on increasing your rental yield, you can provide us with a minimum rate that you are willing to accept from a customer. We recommend around 20% lower pricing. Think of this rate as revenue that can help cover the additional costs of having a tenant versus not having a tenant. There are some costs associated with the wear and tear of hosting multiple guests, but in general, these costs are quite low.
6.3 Electricity and water (non-calendar month): In most cases, tenants will be responsible for paying the electricity and water utility bills at the governing authoritive rate. However, these utility bills can only be tracked for each full calendar month. If a tenant resides in the rented premises outside of a full calendar month, the tenant’s consumption cannot be accurately tracked. Thus, we will charge the customer an average daily fee for electricity and water for each rented night outside of a full calendar month. Electricity and water charges are not subject to FlexStay Rentals’ service fee, and thus, payments for such will be passed on to you in full. In the event of non-performing tenant and/or hosts responsibilities, Flexstay Rentals shall not be held accountable for the reimbursement or payment of any property rental fees, including electricity, water, internet, wifi, cable television, or other subscription services.
6.4 Flexible time-frame: Some tenants will have flexible time-frames, and thus, may choose to rent month-to-month for an indefinite period time. For such guests, Flexstay Rentals offers an automatic renewal model, which allows tenants to automatically extend their rental agreement or stay. Such guests are able to confirm their check-out date by providing a 30-day written notice in advance. Should the Host decide to have the room vacated and returned to the homeowner, agent, or authorized representative, the Host can do so by providing tenants a written notice to vacate their rented premises 30 days in advance of the desired check-out date. The Host may opt-in for the automatic renewal model for tenants by selecting the appropriate option while listing their property on the FlexStay Rentals Platform.
7. Service fee policy
7.1 Marketplace service: For the first 90 days, the above-provided rate is subject to a 13% commission for Peng Ventures. Thereafter, Peng Ventures will (i) reduce the commission to 7%, resulting in an approximate average commission of 8.3% based on a 12-month contract, or Peng Ventures commission may be (ii) subject to an equivalent of 1-month’s rent of said property. Services offered by Flexstay Rentals Limited may include marketing, sales, customer communication, and payment and deposit handling.
7.2 Check-in/Check-out service: THB 600 per time. Services include:
- Video & foto record with an email to both tenant and landlord
- 24h alien reporting according to TM-30 regulation
- Defect reporting & market price evaluation of claims
- Transfer arrangements
- Luggage storage and handling
- Tenant briefing
- Concierge service during the stay
7.3 Concierge services: The guest will pay the service costs.
7.4 Customer service: free
7.5 Key handling: If you deposit your key with us, we can provide you the following additional services.
7.5.1 Room setup: If you would like us to manage your property, we require a minimum room setup to effectively market your property. Pricing is customized to needs.
7.5.2 Pictures: Properties with professional pictures have two times higher chance of being booked. We charge you only our cost, which is based on the site of the unit and number of properties. Pricing is customized to needs.
7.5.3 3D Virtual Tours and Floor Plans: Properties with professional 3D virtual tours and floor plans also have a two times higher chance of being booked. We charge you only our cost, which is based on the size of the unit and number of properties. Pricing is customized to needs.
7.5.4 Content setup: Great content about your building and property increase the chances of high occupancy. Offering the same content in multiple languages increases your geographic reach.
- English: free (basic descriptions up to 150 words)
- Thai, Chinese, and German translation services start at ฿500 (THB)
7.5.5 Property management fee (paying water and electricity bills, managing technicians for aircon cleaning, repairs, deep cleaning, gardening):
- THB ฿10,000 per year upfront
- Higher of 20% on services provided or ฿200 (THB) per job
7.5.6 Max exposure: Hosts can list properties on our platform for free. However, to ensure maximum exposure to potential guests, we recommend engaging us to upload your listing to 10+ marketing partners. We charge just THB ฿250 per month, with a minimum 6-month prepaid commitment. We will provide you with links to your listings on all uploaded platforms.
8. Cancellation & Refund Policy
8.1 Guest view: Prepay only 30% of the first-month’s rental price to reserve a room.
8.1.1 Refund policy:
- Cancellations made 30 days or before the check-in date: a refund of 15% of the first monthly fee
- No refund of the 30% reservation fee for cancellations made within 29 days of the check-in date
- No refund of the 30% reservation fee, monthly rental fee, or security deposit for cancellations made during a booked period without providing adequete advance notice as defined in the leasing agreement between the Tenant and Host.
8.1.2 False Advertising:
We define false advertisement as:
- Private amenities missing
- Common facilities missing
- Devices not working
- Internet not working
- Room not clean
100% refund: In case the property was falsely advertised, you may refuse check-in, and pending approval of your claim, receive an 85% refund of your payment in cash and a 15% refund in Flexstay Rentals credit that can be redeemed for a new booking within 30 days of receiving the credit.
Claims must be reported within 12 hours of check-in and sent to FlexStay Rentals’ by email (firstname.lastname@example.org), including any booking details, pictures, videos, or other forms of evidence to substantiate claims. Flexstay Rentals and the Host will have the option to repair or replace any devices, amenities, or facilities that have defaulted in good faith prior to issuing refunds or credits. If the Host has other properties available of equal or better value, substitutions may be offered in exchange of refund. If the alternative is in the same building and includes said advertised amenities, facilities, and other features as advertised, cancellations requests are nulled.
8.2 Host view:
8.2.1 Cancellation pre-check-in:
Host will receive
- Cancellation 30 days or earlier: 0% of the first-month rent. This rule is to protect the marketplace from misuse. The owner has sufficient time to get another guest.
- Cancellation 1 day or earlier: 15% of the first-month rent
9. Payments and deposit policy
9.1 FlexStay Rentals will collect the 1st staying period payment (for stays between 30 nights to 59 nights). The rental payment is sent to the owner on the 15th of each month for the check-outs from the previous month.
9.2 The Owner may collect or set their own security deposit rate and policy. Flexstay Rentals recommendation is to allow FlexStay to hold the tenant’s security deposit on behalf of the Host. This is to ensure and build trust between tenants and owners. Most tenants prefer to have security deposits held in custody with a 3rd party in the event of potential disputes. According to Thai law, landlords renting out more than five properties are not allowed to request deposits exceeding one month’s rent. We highly recommend complying with local laws and regulations.
9.3 Owner has the right to report for issues cases within 3 days of the check-out date. The damage charge is according to the market value. FlexStay Rentals is responsible for an amount of no more than 1-month rental fee.
9.4 FlexStay Rentals will collect any extended stay rental payments on the same calendar date as the check-in month. The rental payment is sent to the owner on 15th of each month for the payment of the previous calendar month.
9.5 Any revenues from cancellation (net of commission) are sent to the owner on the 15th of each month for cancellations of the previous calendar month.
9.6 The Owner is responsible for the common-property maintenance costs that occur from the Owners’ possessory right.
10. Premises status
10.1 The Owner consents and agrees to not reclaim the Premises and not interrupt the guest during the guests’ stay and the Owner agrees to honor all bookings.
10.2 The Owner must prepare the accommodation according to the checklist (bed sheets, towels, electronic appliances, internet, etc.) in order to follow the preferred standard. In the event that the accommodation does not reach the proposed standard, the Owner must provide replacement or repair within 7 days.
11. Cancellation of the contract
This contract may be terminated or modified by either party on 30 days advance written notice effective as of the expiration of the notice period. However, the termination of the contract of both parties will not affect the current staying guest or future confirmed bookings.
12. General Provisions
In the event, if the contract is not complete or not applicable, it will be considered separate from the rest of the contract.