Refund on cancellation
Cancellation before license start date/agreement start date
- If Tenant cancels before license start date/agreement start date, the token & security deposit will be entirely refunded (depending upon the date of cancellation w.r.t. Booking date - refer to Additional Cancellation Charges section).
- If the tenant doesn't pay the remainder of the security deposit 2 days prior to license start date/agreement start date, the booking will be auto-cancelled. The tenant can choose to re-book or initiate a refund within 3 days of cancellation. After 3 days the refund is initiated automatically if bank details are provided to us and the token amount will be refunded completely (depending upon the date of cancellation w.r.t. Booking date - refer to Additional Cancellation Charges section).
- Onboarding Charges, if collected from the tenant, shall be refunded to the tenant in case the cancellation is done before the move in date.
*Check Additional cancellation charges section below for details.
Additional Cancellation charges
- If cancellation is made 2 days after the date on which the booking is made, cancellation charges of 100% of the Token Amount paid would be applicable. [To illustrate if the booking is made on 01 August 2019 and canceled on 04 August 2019, cancellation charges would be applicable]
- These charges would be applicable even if cancellation happens because of non-payment of the security deposit by the due date.
- These charges won't be applicable if the cancellation is due to owner declining the booking.
Upto 2 days after booking INR Zero
From 2 days after booking but before Move-in date Token amount for the booking
Refund on move-out
- Any cancellation after the move in date shall be considered a move-out and all policies related to move-out shall be applicable.
- The security deposit shall be refunded, after deduction if any as per Aircloud's policies, within 7 bank working days from the day of move-out.
- If the tenant decides to move out before 6 months of stay with Aircloud, one month's rent as early termination charges will be charged, assuming 10-days' notice is given.
- Tenant has to serve 10 days of notice period without exception, any shortfall in notice period will be charged pro rata based on the shortfall in the number of days from the 10 day notice period.
- If a tenant moves out within 6 months without giving 10 days of notice, then rent for 1 month and 10 days will be deducted.
- Any unpaid rent, utility payments will be deducted from the security deposit.
- A charge of INR 999 will be deducted towards cleaning of the room, linen change etc. on opting to move out. This is a fixed charge which every tenant will bear upon his/her exit only if the tenant was not charged On-boarding Charges while his/her booking (e.g. for the bookings done on or before 13th of September 2019).
- Tenant has to pay for damages, on actuals, in case there’s some damage to the property or it’s belongings.
Onboarding Charges are charged to all incoming tenants as a part of the booking process. The tenant is required to pay the amount along with the Security Deposit of the house.
There are multiple formalities, legal and otherwise, that need to be completed so as to make the complete experience hassle-free. This is collected from the tenant in order to cover our costs related to the following services:
- Enabling House Discovery
- Conducting Guided Tours
- Providing Assisted Move-in
- Providing 24x7 Support throughout the tenure
Policies related to Onboarding Charges:
- The amount varies depending on the city and the house type.
- The amount is to be paid along with the security deposit.
- Onboarding charges are refundable in full only in cases when the booking is cancelled before the move-in date of the tenant.
- In cases of internal transfer from one Aircloud house to another, Onboarding Charges will be applicable and added to Internal Transfer Charges.
- Renovation Charges (INR 999) will not be applicable to tenants who have paid Onboarding Charges during booking.
All refund shall be processed via cheque or online transfer.
- If the booking is made through cash, it shall take up to 7 bank working days to process the refund after obtaining the bank account details from the tenant.
- If the booking is made online, it shall take up to 7 bank working days to process the refund. Actual receipt of the money is subject to payment gateway refund processing timeline.
The Society Move-in Charges (Required to be paid to the Society Chairman on behalf of Tenant) , wherever applicable, needs to be paid over and above the current charges. This amount, wherever applicable, will be over and above On-boarding Charges and follow the same process as On-boarding charges in terms of a refund.