Many concepts appear on a typical Globexs invoice and this articles is written to clarify them.
When do I have to make a first payment?
To confirm a booking a tenant needs to pay the first month’s rent, deposit, and Globexs charges. To make this payment the tenant receives from Globexs a booking confirmation or a proforma invoice with the Globexs bank details.
When do I receive a first invoice?
The day after checkin the tenant receives a payment slip from Globexs, which consists of the actual invoice and relevant receipts for this first payment.
The same process repeats every month of the rental period: Globexs sends a proforma invoice to the tenant to remind him of the upcoming payment. Once Globexs receives the monthly payment, the tenant receives a payment slip with a summary of the payment and a copy of the invoice and receipts.
The concepts on my payment slips
Once Globexs receives a payment the tenant receives a payment slip with the following information:
- Invoice of the Globexs services: Agency fee, commission, linen fee, administration fee.
- Receipt for the rent: This amount is transferred directly to the owner and does not enter the Globexs accounting
- Receipt for the deposit: This amount does not enter the Globexs accounting
The different concepts on the Globexs invoice
To tenants who book a Globexs apartment housing, we charge an agency fee, a commission or a combination of both, depending on the location, the duration, and the type of rental.
Commission: To B2B clients we usually charge a commission. A commission is monthly amount that we charge on top of the rent. This can be anywhere between 50€ and 20% of the total invoice amount. On the invoice the commission can be identified as a separate concept, described as “Globexs commission and expenses”.
Agency fee: To B2C clients we usually also charge a 1-time agency fee. This agency fee is a fixed amount that is mentioned on the website for each apartment. Often B2C clients will find both concepts on their first invoice: “Globexs commission and expenses” and “Globexs agency fee”.
- 350€ for a rental between 1-2 months (450€ for luxury rentals)
- 650€ for a rental between 3-5 months (750€ for luxury rentals)
- 1200€ for a rental between 6-11 months (1400€ for luxury rentals)
Linen fee: All tenants also pay a linen fee of 150€. This amount is either invoiced in the first month of the rental, or in the last month, depending on the location, duration of the rental, and type of rental.
Administration fee: In case of an extension we charge an administration fee of 100€. In case the apartment was left very dirty or damaged, and Globexs has to make a deposit report, an administration fee of 100€ is charged.
Why is the actual rent not mentioned on the invoice, but on a receipt?
Globexs is not the owner of the apartments, but is hired by the owner for the intermediation. The rental agreement is between the tenant and the owner, but the owner authorizes Globexs to handle all payments. The amount that corresponds with the actual rent is transferred directly from the Globexs account to the account of the owner, and does not appear in the accounting of Globexs. That is why the actual rent is not a concept on the Globexs invoice, and why the tenant receives a receipt for this payment. On the receipt (and on the rental contract), the data of the owner are mentioned so the tenant knows who he is paying the rent to.
Why is the deposit not mentioned on the invoice, but on a receipt?
Similar story as for the rent. The owner authorizes Globexs to handle the deposit. This amount does not enter the accounting of Globexs.