How to Collect Deposit with Direct Bookings?

Question

How are you collecting a deposit, or putting holds on credit cards, for your STR direct bookings?

We want to avoid charging them for the stay plus the deposit, then refunding the deposit after they check out.

Brooke Dyer · Answer

OwnerRez has the best set up I've seen for placing damage deposit 'holds'.

In addition, Houfy is a direct booking website that mimics the look and feel of Airbnb in terms of user experience. Through Houfy, you'll connect your Square account and you can run holds, etc. through your payment system.

Brooklyn McCarty · Answer

I would look into a software like Super Hog! They will handle all of this for you and screen your guest as well.

Sarah Kensinger · Answer

We use Autohost as well and have been pretty pleased with it! We would hold the CC and put Waivo damage insurance on each booking as well.

Sebastien Long · Answer

Check out Autohost: https://www.autohost.ai/

You can place a hold on credit cards (vs. charging).

Also handles screening (i.e. ID check, background check, etc...) and some data collection during an online check-in.

Kate Stoermer · Answer

We use Waivo; they have a product for folks with just 1 property. It's damage insurance, they have various levels of coverage. I use it on all bookings, on and off platform because they don't ask the guest to pay the damages which avoids potentially strained interactions and therefore retaliation reviews. The fee is covered as a per booking fee. I love them so much I have an affiliate link, which I'll share. Other providers are Know Your Guest and Safely but I heard safely no longer offers single unit coverage Waivo

Andrew Steffens · Answer

Bryce you are correct. Charging and then returning ($1,000 security for example) will cost around $35 for each reservation. Costly at scale. We used to use Stripe which allowed us to place holds on cards for up to 7 days. Unfortunately our new payment provider does not allow for holds, so we offer damage waivers. Each guest pays $29-49 depending on property size and that provides up to $1,000-2000 in damage protection in lieu of security deposit to satisfy the owner and avoid deposits. It does not make sense with few properties but with 60 we can offer it at scale.

How to Collect Deposit with Direct Bookings?

How to Collect Deposit with Direct Bookings?

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