Payment and fees
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Do I need to pay?
You don’t need to pay any fees to Homadorma to become a custodian. Please follow the steps HERE to earn the custodian badge in order to be eligible to become a custodian on Homadorma.
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How should I set my custodianship price?
At Homadorma, we believe every custodian is different. Setting the same rate for everyone is not a true reflection of the difference among custodian services. Instead, you have the right to set the price. The price could also be updated. A general rule of thumb is to stay competitive in the marketplace.
Additional Fees
To charge extra fees for additional services, you must first disclose these potential charges to students prior to booking in your Profile Regulations.
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What is the security deposit?
Students pay the custodian placement fee and security deposit on homadorma.com to book the custodian. Security deposit is equivalent to the monthly fee of the custodianship service. The purpose of the security deposit is to compensate the custodian in case the student cancels custodianship before the school starts. The amount of compensation is subject to the termination clause of the contract.
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When do I get paid after the student moves in?
Homadorma transfers the security deposit to the custodian on the first day of the school. Ongoing custodian fee payment schedule is negotiated by the student and the custodian. Custodian fee is paid directly by the student. Homadorma does not set the payment schedule.
Processing timeAfter Homadorma releases the payment, it takes some additional time for the money to get to you. The average processing time for each payout method is 1-2 banking business days.
How does Homadorma make payment?We pay our custodians by direct deposit. We will ask custodians to provide us with bank account information (e.g, void cheque or direct deposit form issued by the bank) of the custodian or the spouse after a booking is confirmed.
Can't find your answer? Get in touch with our team-we are here to help.