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Is it worth having a damage deposit?

So, I’ve been reading lately how 1) people have a deposit, and since the estimated costs were more than the deposit, it went to resolution instead. 2) the guest has to agree to damages to have the deposit charged anyway. 3) it’s not charged unless claimed, so it’s more of a warning and not really even used.

I’m just debating on whether even listing it is worth it. Could it actually be turning people away for something that even if they damaged my place I would have difficulty claiming? Or is it something that encourages a better quality guest?

Few guests know how hard it is for hosts to claim on the deposit. It seems like a good deterrent to me. Kind of like a huge dog with a loud bark that would run and hide if a real bad guy came through the window.

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I haven’t had a claim so I can’t speak to your first questions.

But I do have a $100 security deposit. Nobody has said a peep about this, or asked me to reduce it. I believe that the guest has that amount put on hold on their credit card but they are not charged unless there is an issue. (someone will correct me if I am wrong).

This is standard practice at most hotels, so I think guests are not fazed by it too much. Some of the hotels I have stayed at wanted up to $200 in case I had the nerve to open the mini fridge and move around bottles (they have weight sensors in the fridge that can be detected from the font desk. No kidding!) or eat the $10 miniature package of M&Ms.

I have a $500 security deposit on an apt that used to only be $105/night! It hasn’t impacted my bookings at all but my guests skew much older which is what I’m shooting for.

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A deposit is a must. You must have something in place. For starters it shows Air you are serious about claiming on damage if it happens. Remember they will have to rule for you on most claims, as the guest will typically deny them. Secondly, having a deposit tends to attract better guests in theory. The ones who will respect your home and property. Mine used to be $150. Until I had Jennifer. Then I raised it to $180. My claim for her damage was $275. So they used her $150 and made up the difference with host guarantee.

I feel like they are more likely to rule in your favor if you have a deposit.

If a guest is put off by my deposit, they’ve never said so.

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Remember it’s an imprint, a hold. Not a charge. Other platforms actually charge the whole bloody thing. FlopKey is one such place. They charge the whole amount up front and take two weeks to return it.

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