Refund & Escrow Policy

Last updated: January 07, 2026

Effective Date: January 1, 2025

This Refund and Escrow Policy explains how RentQuarters handles payments, escrow services, security deposits, and refund requests. By using our payment services, you agree to the terms outlined in this policy.

1. Escrow Services Overview

1.1 What is Escrow?

Escrow is a financial arrangement where RentQuarters holds funds on behalf of transacting parties until specified conditions are met. This protects both buyers and sellers in a transaction.

1.2 Types of Escrow

We provide escrow services for:

• Rent Payments: Temporarily held before disbursement to landlords
• Security Deposits: Held for the duration of the tenancy
• Agent Commissions: Held until transaction completion
• Maintenance Payments: Held until work is confirmed complete
• Caution Fees: Held as protection against damages

1.3 Escrow Protection

Funds held in escrow are:

• Segregated from RentQuarters' operating funds
• Protected against unauthorized access
• Subject to regulatory oversight
• Released only when conditions are satisfied

2. Rent Payment Processing

2.1 Payment Flow

1. Renter initiates rent payment through the platform
2. Payment is processed and held in escrow
3. Landlord is notified of payment receipt
4. After verification (typically 24-48 hours), funds are released to Landlord's wallet
5. Agent commission (if applicable) is credited to Agent's wallet

2.2 Payment Distribution

3. Security Deposits

3.1 Deposit Collection

Security deposits are collected at the beginning of a tenancy and held in escrow. Typical deposit amounts:

• 1-3 months' rent (as specified in the lease agreement)
• Caution fee (if required by landlord)
• Any other deposits specified in the lease

3.2 Deposit Release Conditions

Security deposits are released when:

• Tenancy ends and property is vacated
• Property inspection is completed
• No damages beyond normal wear and tear are found
• All outstanding rent and bills are paid
• Both parties agree to release (or dispute is resolved)

3.3 Deposit Deductions

Landlords may claim deductions from security deposits for:

• Damage to property beyond normal wear and tear
• Unpaid rent or utilities
• Cleaning costs if property is left unclean
• Replacement of missing items

All deductions must be supported by documentation (photos, receipts, validation reports).

3.4 Deposit Return Timeline

• Inspection request: Within 7 days of vacancy notification
• Landlord claim submission: Within 14 days of inspection
• Renter response to claims: Within 7 days
• Deposit release (no disputes): Within 14 days of vacancy
• Disputed deposit: Resolution within 30 days

4. Refund Policy

4.1 Refund Eligibility

Refunds may be issued in the following circumstances:

*Subject to individual circumstances and landlord policy

4.2 Non-Refundable Fees

The following fees are generally non-refundable:

• Platform service fees (once transaction is completed)
• Agent commissions (after services rendered)
• Property inspection fees (once inspection is done)
• Payment processing fees

4.3 How to Request a Refund

1. Log into your RentQuarters account
2. Navigate to the transaction in question
3. Click "Request Refund" or "Raise Dispute"
4. Provide detailed reason and supporting documentation
5. Submit the request for review

Alternatively, contact our support team at support@rentquarters.app

5. Maintenance Payment Escrow

5.1 How It Works

1. Landlord/Renter requests maintenance service
2. Artisan provides quote and is accepted
3. Payment is made and held in escrow
4. Artisan completes the work
5. Requester confirms work completion
6. Payment is released to Artisan's wallet

5.2 Maintenance Refunds

Refunds for maintenance services may be issued if:

• Work is not completed as specified
• Quality of work is unsatisfactory (with evidence)
• Artisan fails to show up
• Both parties agree to cancel

6. Dispute Resolution

6.1 Dispute Process

1. Direct Resolution: Parties attempt to resolve directly
2. Dispute Filing: Either party files formal dispute through platform
3. Evidence Submission: Both parties submit documentation
4. Review: RentQuarters reviews within 7 business days
5. Decision: Decision communicated to both parties
6. Appeal: 7-day appeal window if unsatisfied

6.2 Evidence Requirements

To support your dispute, provide:

• Photos or videos of the property/issue
• Communication records (messages, emails)
• Inspection reports (if applicable)
• Receipts or invoices
• Witness statements (if available)

6.3 Validator Inspections

For disputes involving property condition, we may assign an independent Validator to:

• Inspect the property
• Document the current condition
• Compare with move-in inspection (if available)
• Provide an impartial assessment

7. Wallet Withdrawals

7.1 Withdrawal Process

To withdraw funds from your wallet:

• Complete KYC verification
• Add and verify your bank account
• Request withdrawal from your wallet
• Processing time: 24-48 business hours

7.2 Withdrawal Limits

Withdrawal limits may apply based on:

• Verification level
• Account history
• Regulatory requirements

7.3 Failed Withdrawals

If a withdrawal fails, funds will be returned to your wallet. Common reasons include:

• Incorrect bank account details
• Bank account closed
• Account name mismatch
• Technical issues with the bank

8. Chargebacks

If you initiate a chargeback with your bank or card issuer:

• Your account may be suspended pending investigation
• We will provide transaction evidence to the payment processor
• Fraudulent chargebacks may result in account termination
• Additional fees may be applied if chargeback is unsuccessful

We encourage you to contact us first before initiating a chargeback.

9. Special Circumstances

9.1 Force Majeure

In cases of events beyond our control (natural disasters, government actions, etc.), we will work with all parties to find fair solutions.

9.2 Fraud

If fraud is detected:

• Funds will be frozen pending investigation
• We may report to law enforcement
• Victims will be assisted in recovery where possible

10. Contact Us

For refund or escrow inquiries:

• Email: support@rentquarters.app
• Financial Inquiries: finance@rentquarters.app
• Phone: +234 802 471 7179
• WhatsApp: +234 802 471 7179

Response time: Within 24 hours on business days