Payments & Earnings
What are the costs of using the Lainappi service?
Lainappi is a free downloadable mobile application that serves as a tool for users to rent items. Lainappi charges individuals a 20% service fee for each rental payment made within it and 15% service fee for users registered as a business (Note: registering as a company requires a business ID).
Who provides the payment?
Lainappi uses Stripe as a payment service provider. Stripe is one of the world's largest payment service providers, more information about Stripe can be found HERE.
How does the payment work?
As payment methods, the Lainappi application accepts debit and credit card payments that are linked to a user's Lainappi account. The payment goes first to Lainappi, after which Lainappi pays the renter their share of the rent.
When you submit a rental request in Lainappi, a chat conversation will open with the other party. Then you may choose whether to pay the rental or cancel it.
Is it safe to pay within Lainappi?
Yes, we use an international, well-known and secure platform Stripe as a payment service provider.
When will I receive payment for the items I rent?
Once the rental transaction has been approved, the renter will be charged the agreed rent. Payment to the item owner will only be made after the rent has been successfully approved. It takes about 5 business days to process payments.
Is the income earned in Lainappi taxable?
The money earned from renting is capital income, which is therefore taxed as capital income. The user is responsible for notifying the taxpayer of his / her earnings in the Lainappi service. More information on taxation can be found here.
How do I get a receipt from a rent?
Once the transaction has been processed, you will receive the receipt to your email.