Vacation Rental Damage Deposits
Hey All,
Do any of you require damage deposits from guests for booking your vacation rentals?
I recently acquired and launched a new property on Airbnb and VRBO that is $500-$600 avg. nightly rate compared to other properties I’m managing at a $150-$250 avg. nightly rate.
I have never required a damage deposit in the past but for this one I’m curious to hear what you think? I’m leaning towards NO because I want to limit as many barriers as possible when someone is considering my listing over others in the area.
TIA
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#1 Short-Term & Vacation Rental Discussions Contributor
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- Greer, SC
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#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
Even if you set an amount for a deposit you don't get to hold the deposit anymore and have to file a claim to get any reimbursement for damages.
Inset the damage deposit high since the guests doesn't actually have to pay it unless there are actual damages proven.
If your one of the unfortunate ones that get most of their bookings from Airbnb dont count on them to take your side over the guest.
If you do have damages document it with pictures and receipts and report it to the listing platform immediately.