How do Payouts and Earnings work?
Being a host on Otto means you have the opportunity to earn from your vehicle. Here's a quick guide to help you understand how payments and earnings work:
⏱️ Timing of Payments:
- You'll receive your earnings when a trip starts. As soon as the renter picks up your vehicle, your payment is on its way.
🏦 💳 📲 Payment Method:
- Your earnings are transferred to your chosen payout method, which you set up when registering as a host. This could be a bank account, digital wallet, or another supported method.
- If you need to update your payout method, visit your host account settings. See the guide on how to update your payout method here.
💲 Earnings Breakdown:
- Your earnings are based on the rental price you set for your vehicle. You'll receive the amount you set as the vehicle's daily rate multiplied by the duration of the trip.
⏳ Payment Delays:
- Payments are usually prompt, but slight delays can occur due to bank processing times.
- If you haven't received your payment within a few business days after the trip start, contact our support team.
🚫 Cancellations and Refunds:
- The payment process for cancellations depends on the cancellation policy. Refer to the cancellation policy and guides below:
🤝 Disputes and Damage Claims:
- You will handle damage claims directly with the renter. Otto will assist in facilitating such claims, but resolution of damage claims and disputes will be between you and the renter.
- Refer to the guide on handling damage fees
📔 Taxes:
- As a host, it's your responsibility to report your income from Otto to your local tax authorities.
- We recommend consulting with a tax advisor to understand your obligations.