SNAG FEES, PAYMENTS, AND CANCELLATION POLICY

1. FEE SCHEDULE

1.1 Snag Fee. The Snag Fee is ten percent (10%) of the rent for each Booking. It is included in the rent displayed to Sublessees, is deducted from amounts remitted to the Sublessor, and is collected with each rent charge. As described in Section 6.2 of the Terms of Use, the Snag Fee is earned when a Booking is confirmed.

1.2 Screening Fee. The fee for a Sublessor-ordered screening report (background, credit, and eviction) is thirty-five U.S. dollars (US$35), charged to the requesting Sublessor. This fee is only charged if the Sublessee completes the screening. Sublessees are not charged any application or screening fee by Snag. A Sublessor may not pass the cost of screening on to a Sublessee except to the extent expressly permitted by applicable law. In New York, the law caps what a landlord may charge a rental applicant for background and credit checks at the lesser of the actual cost or twenty dollars ($20).

1.3 Cancellation Processing Fee. The cancellation processing fee described in Sections 3.2 and 5.2 of this Fees Policy is one hundred fifty U.S. dollars (US$150). It reflects Snag’s administrative and payment-processing costs of unwinding a confirmed Booking, which the parties agree are difficult to calculate precisely at the time of booking and for which this fee is a reasonable estimate.

2. PAYMENT TIMING

2.1 At Request to Book. When a Sublessee requests to book, a temporary authorization hold in the amount of the Security Deposit may be placed on the Sublessee’s payment method. The hold is not a charge. Depending on the booking flow then in use, the hold may instead be placed when the Sublessor approves the request or pre-approves the Application, and the App will tell the Sublessee when a hold is placed. The Sublessor has seventy-two (72) hours to respond. Approval captures the hold and confirms the Booking. A decline or expiration cancels the request and releases the hold. A released hold is not a refund. Depending on the Sublessee’s financial institution, the held amount may continue to appear as pending for one (1) to three (3) business days, and sometimes longer, after it is released.

2.2 At Confirmation. The Security Deposit is charged (or captured) when the Booking is confirmed. Nothing else is charged at confirmation.

2.3 Before Move-In. The first rental period’s rent, together with any one-time charges disclosed at checkout (such as a one-time utility charge), is charged three (3) days before the Move-In Date.

2.4 Monthly. Rent for each subsequent rental period is charged three (3) days before the start of that period. The final rental period is prorated at the daily rate stated in the Sublease Agreement.

2.5 Failed Charges. If a charge fails, Snag retries the payment method approximately once every twenty-four (24) hours for up to seven (7) days, with notice to the Sublessee. The consequences of failed and late payments (including any grace period, late charge, and default) are stated in the Sublease Agreement, and Section 6.7 of the Terms of Use governs possession where the first rent charge has not cleared. If the first rental period’s rent has not been collected by the Move-In Date, the Sublessor may delay the Sublessee’s move-in until it is collected. If it remains uncollected at the end of the Move-In Date, the Sublessor may instead cancel the Booking without any Sublessor cancellation fee, and the cancellation is treated as a Sublessee cancellation outside the Cancellation Policy under Section 3.2. The Sublessee’s obligation to pay rent is not excused because the Sublessee has not moved in.

2.6 Payouts. The Payout for the first rental period, together with any other amounts charged before move-in, is released to the Sublessor between one (1) and seven (7) days after the Move-In Date, net of the Snag Fee and any other amounts recoverable under the Terms of Use. The Payout for each later rental period is released on the day that period’s rent is successfully charged, which is three (3) days before the period begins. Payout timing is subject to the payment processor’s processing times and to timely claims under the Sublease Agreement or the Dispute Resolution Policy. Payouts are also subject to withholding and offset as described in Section 4.6.

3. SUBLESSEE CANCELLATIONS

3.1 Within a Free-Cancellation Window. A Sublessee who cancels before the deadline stated in the Listing’s Cancellation Policy (the day before the Move-In Date, seven (7) days before the Move-In Date, or one (1) month before the Move-In Date, as applicable) receives a full refund of every amount paid, including the Security Deposit, and owes nothing.

3.2 Outside the Window; No-Shows. A Sublessee who cancels after the applicable deadline or who repudiates a confirmed Booking after that deadline (including by failing to pay or failing to appear, as described in Section 8.4 of the Terms of Use), is responsible for: (i) rent under the Sublease Agreement up to a maximum of one (1) month’s rent, which is reduced by all rent attributable to any re-letting of the same period and remains subject to the Sublessor’s duty under applicable law to mitigate damages by taking reasonable steps to re-let; (ii) the cancellation processing fee stated in Section 1.3; and (iii) the earned Snag Fee attributable to the first rental period. The Security Deposit is applied only against the unpaid rent described in clause (i); the amounts in clauses (ii) and (iii) are charged to the Sublessee’s payment method on file. Rent owed under clause (i) is rent, not a fee, and may be paid to the Sublessor from the Security Deposit without a further charge to the Sublessee. Any unapplied portion of the Security Deposit is refunded with an itemized statement within the period stated in Section 7.4 of the Terms of Use.

3.3 Worked Example. Rent is $2,000 per month and the Security Deposit is $2,000. The Sublessee cancels two days before the Move-In Date on a Listing whose free-cancellation deadline was seven (7) days before the Move-In Date, before the first rent charge. If the Sublessor re-lets the unit for the same period at $1,500 for that month, the Sublessee owes $500 of rent (recovered from the Security Deposit, with $1,500 refunded), the $150 cancellation processing fee, and the $200 earned Snag Fee (charged to the card on file). If the Sublessor does not re-let despite reasonable efforts, the Sublessee owes one month’s rent ($2,000, recovered from the Security Deposit), plus the $150 fee, and the $200 Snag Fee.

4. SUBLESSOR CANCELLATIONS

4.1 Refund to the Sublessee. If a Sublessor cancels a confirmed Booking (other than for an excused reason under Section 4.4), the Sublessee receives a full refund of all amounts paid and unused, including the Security Deposit and the Snag Fee component of refunded amounts, initiated within ten (10) business days.

4.2 Sublessor Cancellation Fee. The canceling Sublessor is charged a cancellation fee based on proximity to the Move-In Date: (i) more than thirty (30) days before the Move-In Date: one hundred U.S. dollars (US$100); (ii) thirty (30) days or fewer, but more than seven (7) days, before the Move-In Date: two hundred fifty U.S. dollars (US$250); and (iii) seven (7) days or fewer before the Move-In Date, or on or after the Move-In Date: five hundred U.S. dollars (US$500). One-half of the fee collected is paid or credited to the displaced Sublessee as compensation for disruption, and the remainder reimburses Snag’s administrative and payment-processing costs. The Sublessor authorizes collection as described in Section 4.6. The parties agree that a Sublessor’s late cancellation causes the displaced Sublessee and Snag losses (replacement housing search costs, processing costs, and reputational harm to the marketplace) that are difficult to calculate precisely at booking, and that this schedule is a reasonable estimate and not a penalty.

4.3 Additional Consequences. A canceling Sublessor receives no Payout for the cancelled Booking, and the associated dates may be blocked from re-listing at Snag’s discretion. Repeated cancellations (two or more in any twelve-month period) or bad-faith cancellations (including cancelling in order to re-let the same unit at a higher price or off the Platform) are grounds for Listing removal or account suspension or termination, Snag may also recover the costs described in Section 4.7 and pursue the Sublessor as described in Section 1.7 of the Dispute Resolution Policy.

4.4 Excused Reasons. A Sublessor cancellation is excused, and no cancellation fee applies (the Sublessee still receives a full refund), where the Sublessor documents, within seven (7) days: (i) fire, casualty, or condemnation rendering the Sublet uninhabitable; (ii) the death, or documented serious medical emergency, of the Sublessor or a household member; (iii) an action by the building owner, board, or a governmental authority, not caused by the Sublessor’s breach of the Terms of Use or of the Sublessor’s own lease obligations undertaken in the Listing, that prevents the sublet; or (iv) the Sublessee’s fraud or material misrepresentation. Snag determines whether a reason is excused through the claims process in the Dispute Resolution Policy.

4.5 Access Failures and Unavailable Premises. Section 8.9 of the Terms of Use requires a Sublessor to make working access to the Sublet available no later than twenty-four (24) hours before the Move-In Date and to make the Sublet available, as listed, on the Move-In Date. The consequences are: (i) if the Sublessee cannot enter by the Access Time defined in Section 8.9 of the Terms of Use because the Sublessor failed to provide working access (an “Access Failure”), no rent accrues for any period before the Sublessee obtains working access, and the Sublessor reimburses the Sublessee’s reasonable, documented out-of-pocket cost of substitute lodging until working access is provided, for up to seven (7) nights; (ii) if the Sublessee does not obtain working access within twenty-four (24) hours after the Access Time, or if the Sublet is occupied by a person who was not disclosed in the Listing, has been leased or promised to another person for an overlapping period, or is otherwise unavailable for a reason within the Sublessor’s control (“Unavailable Premises”), the Booking is treated as a Sublessor cancellation under Section 4.1, the cancellation fee in Section 4.2(iii) applies, and the Sublessor reimburses the same substitute lodging costs; (iii) an Access Failure that is cured within twenty-four (24) hours after the Access Time carries no cancellation fee; and (iv) where an excused reason in Section 4.4 applies, no cancellation fee or substitute lodging cost is charged to the Sublessor, and the Sublessee still receives a full refund. Substitute lodging reimbursements compensate the Sublessee for actual out-of-pocket loss and are not a penalty. Two or more Access Failures or instances of Unavailable Premises in any twelve-month period, or one of them together with a Sublessor cancellation, are grounds for Listing removal or account suspension or termination.

4.6 Collection from Sublessors. Snag currently collects a payout account from Sublessors, and may require a Sublessor to add and maintain a valid payment card or other form of payment at any time. Amounts owed by a Sublessor under this Fees Policy, the Terms of Use, or a determination under the Dispute Resolution Policy (including cancellation fees, refunds made on the Sublessor’s account, and amounts under Section 4.5) are collected in the following order, unless Snag determines that another order is more practicable: (i) by offset against, or withholding of, any current or future Payout, including the Payout for the first rental period, which is not initiated until after the Move-In Date; (ii) by debit of the Sublessor’s payout account, to the extent permitted by applicable law and by the rules of Snag’s payment processor and the applicable payment network; and (iii) by charge to any payment card the Sublessor has on file. Any balance not recovered by those means is due from the Sublessor within ten (10) days after Snag’s notice, is a debt owed to Snag, may be referred for collection, and is grounds for restricting or terminating the Sublessor’s account. Snag will give the Sublessor notice of the amount and basis of any recovery no later than the time of the recovery.

4.7 Costs Snag Incurs; Collection Costs. If a Sublessor cancellation, Access Failure, or Unavailable Premises leads Snag to pay a displaced Sublessee’s substitute lodging, rebooking, or similar costs that the Sublessor owes, the Sublessor must reimburse Snag for those payments. A Sublessor who does not pay an amount owed within the period in Section 4.6 is also responsible for Snag’s reasonable costs of collection, including collection agency fees and, to the extent permitted by law, reasonable attorneys’ fees. These amounts are owed on top of any Sublessor cancellation fee under Section 4.2 and are collected as described in Section 4.6.

5. EARLY TERMINATION (AFTER MOVE-IN)

5.1 By the Sublessee: Early Termination Option. The Sublease Agreement gives the Sublessee the option to end the tenancy early by giving thirty (30) days’ notice through the Platform and paying an early termination fee equal to one (1) month’s rent. Exercise of the option releases the Sublessee from rent accruing after the effective termination date. Rent through the effective date is prorated at the daily rate stated in the Sublease Agreement, and the Security Deposit is returned as provided in the Terms of Use and the Sublease Agreement. The early termination fee is charged to the Sublessee’s payment method on file, and the Sublessor receives it net of the Snag Fee.

5.2 By the Sublessee: Without the Option. A Sublessee who vacates early without exercising the early termination option remains liable for rent as it comes due under the Sublease Agreement until the earlier of the end of the term or the date the Sublet is re-let, subject to the Sublessor’s duty under applicable law to mitigate damages. Scheduled rent charges continue during that period, and unpaid amounts are recoverable as provided in the Sublease Agreement and the Terms of Use. The cancellation processing fee in Section 1.3 also applies, and Snag Fees on rent already charged are not refunded.

5.3 By Mutual Agreement. The parties may terminate a Booking early by mutual confirmation through the Platform. Rent is prorated at the daily rate through the effective date, and prepaid but unused rent is refunded. No further recurring charge is made where the termination is confirmed at least five (5) days before the next scheduled charge date, and any amount charged after confirmation for a period following the effective date is refunded in full. No early termination fee applies to a mutual termination unless the parties agree otherwise in the confirmation. If the same parties continue or resume an arrangement for the same Sublet outside the Platform within twelve (12) months after a mutual termination, the Snag Fees that would have been payable remain owed as provided in Section 15.10 of the Terms of Use.

5.4 By the Sublessor. A Sublessor may end a tenancy early only as the Sublease Agreement permits (for the Sublessee’s default, or for an excused reason under Section 4.4 arising mid-term). Any other Sublessor-initiated termination is treated as a Sublessor cancellation under Section 4, with the fee tier in Section 4.2(iii), and the Sublessee receives a refund of all unused amounts.

5.5 Snag Fees. Snag Fees on amounts already charged remain earned in every early-termination scenario, except that they are refunded to the extent the corresponding rent is refunded because of a Sublessor cancellation, an excused-reason termination, or an upheld claim of material misrepresentation. Earned but uncollected Snag Fees attributable to the first rental period are collected as described in Section 6.2 of the Terms of Use.

6. REFUNDS

6.1 Processing. Approved refunds are initiated within ten (10) business days to the original payment method. Posting times depend on the recipient’s financial institution. Authorization holds that are released (rather than captured) are not refunds and typically clear within several business days.

6.2 Refund Matrix. In summary:

6.2.1 Cancellation within a free-cancellation window: everything is refunded.

6.2.2 Sublessee cancellation outside the window: the Security Deposit is applied to rent owed (maximum one month, net of re-letting) and the balance is refunded. The cancellation processing fee and the first-period Snag Fee are charged.

6.2.3 Sublessor cancellation (non-excused): everything is refunded, including fees, and the Sublessor is charged the fee in Section 4.2.

6.2.4 Excused Sublessor cancellation: everything is refunded, and no Sublessor fee applies.

6.2.5 Early termination by option: rent is prorated, the one-month early termination fee applies, and the Security Deposit is returned as provided in the Terms of Use.

6.2.6 Mutual termination: rent is prorated, unused rent is refunded, and no fee applies.

6.2.7 Upheld misrepresentation claim: refund as provided in the Sublease Agreement, including associated Snag Fees.

6.2.8 Sublessor Access Failure or Unavailable Premises: the Sublessee receives a refund of all unused amounts and owes no rent for any period before obtaining working access; the Sublessor is charged the substitute lodging costs in Section 4.5 and, where the Booking is treated as cancelled, the fee in Section 4.2(iii), unless an excused reason applies.

7. CHANGES

7.1 Changes. Snag may update this Fees Policy from time to time as described in the Terms of Use. Changes apply only to Bookings confirmed on or after the effective date of the change, and material changes will be announced in advance through the Platform or by email.