THIRDHOME Unveils New No-Risk Exchange Reservation Policy
Luxury property & travel club, THIRDHOME, is proud to announce a new no-risk reservation policy, providing reassurance to members organising travel plans through the company’s Exchange platform. Introduced to help instil confidence during these uncertain times with COVID-19, the policy will remain in place for any other unforeseen future circumstances and will be there to reassure both current and prospective members.
Previously, all trip cancellations or amendments were negotiated between members, and refund of Keys was dependent on the stay being re-booked by another member. While the conditions for cancellations made by a guest in normal circumstances remain the same, this new official policy ensures members can relax in the knowledge that they’re covered if anything out of their control occurs.
The policy is applicable to all Exchanges organised before and after an unexpected major event, such as a natural disaster, widespread disease or political unrest, therefore making travel impossible or unsafe. In the case of COVID-19, the policy was introduced on 1st April and is applicable to any future stays, effective immediately.
The full policy can be found here, but highlights include:
Members can cancel stays anytime up to 14 days prior to the reservation. THIRDHOME will consider waiving the 14-day notice requirement should any unforeseen circumstances arise in this period which make travel impossible or unsafe.
Members are required to notify THIRDHOME on the cancellation and the dedicated team will handle the rest.
Following the cancellation, the ‘Keys’ and Exchange Fee will return to the Member account for future use.
The Member is responsible for any associated travel costs.
The policy applies to any reservation made before or after a major unforeseen event which makes travel impossible or unsafe.
The policy will be activated based on travel advisories declared by official local or global sources.
What is THIRDHOME Exchange?
Launched in 2010, THIRDHOME is a club that enables luxury second homeowners to leverage their assets by exchanging time in their properties for stays in other beautiful homes on a reciprocal basis without the expense of renting. Members are safe in the knowledge that their home will only be exchanged with other likeminded members who are offering up their own home for exchange, removing any of the risk of mainstream rental and exchange programmes. The average house value is $2.4million.
How does THIRDHOME Exchange work?
Step 1 – apply for membership – THIRDHOME reviews and approves all homes based on their property value, location, furnishings and amenities.
Step 2 – deposit time in your home – once confirmed as a member, homeowners choose which weeks to make available to other members. Based on the desirability of the weeks deposited (e.g. school holidays) and the property’s value, THIRDHOME allocate ‘Keys’ to the homeowner.
Step 3 – book a trip! – using the ‘Keys’ received from depositing weeks into the club and the home’s value, members can browse the THIRDHOME portfolio of over 11,000 properties and book a stay – members can only stay in properties which correspond to the number of ‘Keys’ they have available. Members are required to pay a minimal Exchange fee and will receive immediate confirmation of their stay.