We’re updating our payment system, refund policy, and fee structure starting in late August 2025
🏡 Enkostay Tenant Notice
Hi from Enkostay!
Starting in late August 2025, we’re making changes to our payment system, refund policy, and service fee structure.
These updates are designed to:
Reduce your upfront payment burden
Provide clearer and fairer refunds
Make long-term stays easier and more flexible
🔎 What bookings will this apply to?
Existing bookings: Stay under the current policy (V1)
New bookings: The new policy (V2) will apply to contracts made in late August, 2025. The exact date will be announced later.
💳 Payment Types by Stay Length
Type | Length | Payment Style |
|---|---|---|
Full Payment | 14 to 89 nights | One-time payment at request |
Monthly (Installments) | 90+ nights | New structure applies ⬇️ |
✨ What’s changing?
Item | Current Policy | New Policy |
|---|---|---|
Payment Gateway | Stripe (US company) | TossPayments (Korea company) - International cards are still supported |
Monthly Payment Method | Pay upfront for remaining days of current month + full next month (up to 2 months). Then monthly rent begins. | Auto-charge every 30 nights from your move-in date. |
Service Fee | 100% of service fee charged at the time of the first payment | Service fee will be split and charged monthly along with rent |
🔁 New Refund Policy
We’ve simplified the refund rules based on mid-to-long-term stay patterns. Refunds will now be based on the first month’s rent, not the full amount.
Situation | Current Policy (based on total rent) | New Policy (based on first month’s rent) |
|---|---|---|
Free Cancellation |
|
|
1st Tier | 10% penalty if cancel 60–31 days before move-in | 10% penalty if cancel 44–31 days before move-in |
2nd Tier | 20% penalty if cancel 30–8 days before move-in | 50% penalty if cancel 30–15 days before move-in |
3rd Tier | 30% penalty if cancel 7–4 days before move-in | 70% penalty if cancel 14–8 days before move-in |
4th Tier | 50% penalty if cancel 3–1 day before move-in | 100% penalty if cancel within 7 days of move-in or No-show |
5th Tier | 70% penalty if cancel within 24h of move-in | – |
🕒 Cancellation is based on your scheduled move-in time (3 PM KST on the move-in date).
Outside of the free cancellation period (Tier 0), the service fee is non-refundable.
📅 When does this apply?
The new policy will apply to bookings (and related extensions) made from late August 2025 onward.
The exact effective date will be announced later, but it will be no earlier than August 20.
All contracts made before that will follow the existing policy.
We’re working to make your stay easier, safer, and more transparent.
Thanks for choosing Enkostay — we’re here to support your life in Korea.
Warmly,
The Enkostay Team
