The HostelLink “True-Listing” Guarantee
HostelLink operates a secure escrow system via Niyhi Global Ventures. Funds paid for rent are held securely and are only eligible for release to the landlord after a physical Deep Inspection has been conducted and a report has been delivered to the Renter.
The 24-Hour Review Window
- The Protocol: Upon delivery of the Deep Inspection Report, the Renter has exactly 24 hours to raise a dispute or reject the listing based on the report findings.
- Consent by Silence: If no dispute is raised within the 24-hour window, HostelLink is legally authorized to release the funds to the Landlord/Caretaker. Once funds are released, the transaction is considered finalized and non-refundable.
Commitment Deposit (₦2,000)
To prioritize serious inquiries and cover the logistical costs of our Scouts, a ₦2,000 Commitment Deposit is required for “Pre-Rent” inspections.
- Credit Toward Rent: This deposit is 100% credited toward your total rent if you proceed with the booking.
- Non-Refundability: If the Deep Inspection Report confirms that the listing is accurate and functional, but the Renter chooses not to proceed for personal reasons, the ₦2,000 is non-refundable as it covers the Scout’s service and logistics.
- Refundability: The deposit is only refundable if the Deep Inspection reveals a significant material misrepresentation (e.g., the house does not exist or major facilities are missing).
Full Rent Refunds (Escrow Phase)
A 100% Refund of the rent held in escrow will be issued if:
- The Deep Inspection reveals the listing is fraudulent or significantly misrepresented.
- The property becomes unavailable before the inspection is completed.
- The Landlord/Caretaker fails to grant access for verification.
Cancellations for Personal Reasons
If the Deep Inspection Report is accurate, but the Renter cancels the booking within the 24-hour window for personal reasons:
- A 3% Administrative Fee (capped at ₦5,000) will be deducted to cover non-refundable banking gateway charges (Paystack) and administrative processing.
Listing Partner (Earner) Bonuses
- Bonus Payout: The Listing Bonus (up to ₦10,000 – ₦30,000) is only paid after the 24-hour Renter review window has closed and the transaction is finalized.
- Clawback Policy: Once a bonus is paid out following a successful handover, it is final and non-refundable.
- Forfeiture: If a transaction is refunded due to a Listing Partner providing false or misleading media, the bonus is permanently forfeited.
No-Refund Scenarios
Refunds will not be issued in cases of:
- Complaints raised after the 24-hour review window has expired.
- Dissatisfaction with external factors (e.g., neighborhood noise, general power outages).
- Direct payments made to landlords or agents outside the HostelLink platform.
Refund Processing
All verified refunds are processed within 2–3 working days to the original bank account used for the transaction.