Lake operates our secure payment system so that you will receive smooth, fast, and secure payments for your bookings. Lake has a pay-per-booking model where we charge a 5% commission on rental amounts and a 3% payment processing fee.
Offering Payment Methods
Now let’s look at some popular payment methods so you can choose the best option for you and your guests:
- Credit cards (Visa, Mastercard, etc.) are widely accepted, and generally, vacation rental platforms integrate with major payment processors to handle credit card transactions seamlessly.
- PayPal is another popular choice, and Lake integrates with PayPal, making it easy for you to manage your rental income.
- Direct bank transfers are also possible, but do keep in mind that fees, transaction times, and security measures may vary.
Remember, the guest chooses the payment method that they prefer. Their choice of payment method may have different payment processing fees and potential chargebacks – all of which could affect your revenue.
Offering several payment method options for your guests through Lake means collecting more rental income from your vacation property.