This latest move by Stayz has that same destructive grab and run feel about it. Sort of reminiscent of RealEstate.com.au all over again.
When Stayz acquired Yesbookit late last year, there was much concern from the YBI users around the country on just how it would affect them.
Well now they know...
Over the past couple of weeks Stayz, (trading as Yesbookit ) has rolled out its new Client Services and Distribution Agreement (Version 5.0)
Some quite incredible terms and conditions here, including the requirement that if you leave the Stayz/YBI fold, you have to hand back all documentation including the agreement!
That might be unusual, but have a look at this requirement:
"This Agreement will continue at least for the Initial Term. You may give us notice at least 28 days prior to the expiration of your Initial Term that you would like your subscription to terminate upon the expiration of the Initial Term. If you do not give us such notice, the Agreement will automatically renew for a further term of 12 months and the new Service Charges and Support Charges (as notified to you) will apply for that period".
I have spoken with several YBI users during this past week. Already, some have been shut down/turned off because of non compliance, and many feel that they have been "bullied" into signing this agreement by Yesbookit. Of course, if it's not signed it can be automatically invoked or, if they please, revoked.
Another significant element of the agreement is that Yesbookit users' only option now in working with Stayz is to cop the 8.5% + GST charge for each and every booking.
All they need to wait for now is the gradual increase of fees, a change that Stayz will be a mandatory part of the product integrated into the offering with no way for the users to defy the current honesty system which I am certain the bean counters at Fairfax would be very pleased to eliminate.