To protect the owner and renter, RentMyRide operates on a billing cycle which runs from the 20th of the previous month to the 20th of the current month and is paid on the 25th of the current month.
There are 3 main reasons why your payment may not be accurate...
- One or more of your bookings over lapped our billing cycle, this means that a booking that was paid on the 15th and started the 19th and ended the 25th is split and the booking days from the 21st to 25th is carried forward to the new billing cycle and paid out in the new month
- One or more of your bookings was not paid by the renter which means that the payment was not generated on the last day of the billing cycle.
- In conjunction with point 2 - if a booking or extension is not paid by the renter before the billing cycle cutoff, only the days in the new billing cycle will be paid.
- The first day and last day of any rental on our market place counts as a half day each - totaling 1 day. This is based on the premise of a pick up being at 12 and dropped off at 12 at the end of the rental, even if the car is picked up at 4pm and dropped of at 4pm the first and last day still counts as one day. (Its the same thing)
IMPORTANT: if a renter pays for 3 months in advance the rental and payment to owner is split within accordance to our billing cycle 20th - 20th and paid on the 25th
When are claims paid:
Claims are generally paid out in a separate payment on the 25th of each month based on the same billing cycle and provided that our policies are met by submitting your fully completed and signed trip checklist to support on the day your car is returned and provided receipts / quotes where applicable with 24hrs.
If this process is delayed and a deposit is returned within the stipulated 7 working days then RentMyRide cannot be held responsible as stated within our terms.
It is important to note, that any claims or fees do not show on the statement but are debited or credited from your statement amount, a brief explanation is that if you have no claims or fees, you will be paid the amount stated on your statement, however if you had a claim for extra mileage then this is paid in a separate transfer, this similarly applies to an owner fine, for example you cancelled a booking after being paid, your statement will reflect the amount before the fine is deducted and you will see the reduced payment in your bank account.
STATEMENTS; Although we attempt to send out PDF statements every month, we have to do this manually until it has been automated so we cannot always get around to it, not to worry you can see all your bookings from your dashboard, which is also your statement of rentals per vehicle.