Cancellation & Refund Policy
Clear guidelines on booking cancellations, token refunds, and security deposit returns.
1. Tenant Cancellation Prior to Move-in
We understand plans can change. If a tenant needs to cancel a confirmed booking prior to move-in, the following refund framework applies:
100% token refund minus standard payment processing gateway fees.
50% token refund, with remainder credited towards owner reservation hold.
Token non-refundable as property was withheld from market.
2. Owner Cancellation & Non-Fulfillment
If a property owner cancels a confirmed booking or fails to deliver the property in habitable condition upon agreed move-in date:
- 100% Immediate Refund: The tenant receives an immediate 100% full refund of all token deposits and advance payments.
- Alternative Accommodation Assistance: Our concierge team assists the tenant in finding another restriction-free home.
- Owner Penalties: Repeated unprovoked cancellations by owners lead to listing deactivation and platform suspension.
3. Security Deposit Return at Lease End
Upon scheduled move-out and key handover:
- The owner and tenant conduct a joint exit inspection comparing against the move-in condition record.
- The full security deposit must be refunded to the tenant within 7 business days of lease conclusion.
- Any proposed deductions must be itemized with valid repair receipts or bills.
4. Permissible Deductions vs. Wear & Tear
Minor scuff marks on paint, natural fading of sunlight on curtains, aging plumbing washers, or minor wear from daily living.
Broken tiles or sanitaryware, missing fixtures, unpaid utility or electricity bills, or unauthorized structural modifications.
5. Refund Processing Timelines
Approved refunds are credited directly back to the original source bank account, UPI ID, or credit card within 5 to 7 banking business days depending on the recipient bank's settlement schedule.
6. Force Majeure & Special Circumstances
In unforeseen circumstances such as natural disasters, civil unrest, or catastrophic property damage rendering the premises uninhabitable, special refund evaluations and grace-period cancellations are handled on a priority basis by our support team.
7. How to Claim a Refund
To initiate a cancellation or claim a refund, navigate to your active booking details in your dashboard, or submit a request via our Contact Form or by emailing support@homesbyasb.com with your Booking ID.
Questions or Concerns Regarding This Policy?
Reach out directly to HOMES by ASB's customer support and compliance desk.
Ranchi, Jharkhand, India