What is the Alcove platform fee?
The Alcove platform fee is a small fee applied to each monthly rent transaction conducted through our platform. It is charged to the tenants and helps to sustain and improve the quality of our services.
The platform fee supports Alcove's operational costs, including but not limited to:
- First line of defence Tenant support
- Landlord screening and verification (see more on our protection program here)
- Alcove covers the costs of electronic payment processing fees*
- Roommate mediation process
- Room switch and relocation support
- Electronic lease signing
(*excluding card fees)
How is the platform fee calculated?
The platform fee varies based on factors like lease length and home type. However, the exact amount is always clearly disclosed on Alcove, for example:
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On the listing page of the home you are applying to
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On the 1st page of the application process
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On your MyApplication page before lease signing
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The total monthly payment amount is also displayed in your payment schedule as part of the lease signing process, as well as after lease signing.
Alcove clearly discloses the platform fee upfront, so you always know what to expect before committing.
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Listing Page |
Start of Application Page |
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When is the platform fee applied?
The platform fee is automatically included in the the total monthly rent transaction amount during the payment process.