Q: We have only one vacation rental and we don't accept credit cards because of the cost. Can I request for credit card numbers and information from renters? This would only be used in case of any major damage to the home. As it is, we charge $300 security deposit, $150 of which goes towards cleaning and the balance gets refunded.

A: If you don't have a credit card merchant account, then collecting the credit card numbers from your guests would be of no use to you as you wouldn't have a way to charge it if damages do incur.

The reality is major damage rarely happens as long as you are screening your guests properly. As a matter of fact, in over 10 years of renting, I have never had major damage or theft. Though if you are truly concerned, you can collect a higher security deposit.

Be careful with your terminology that you are using. You state that you charge a $300 security deposit and keep $150 for cleaning. So what you are actually charging is a $150 security deposit and $150 cleaning fee. Please be sure that your renters are not confused, as it could be annoying to the renter who is mislead to believe that the full $300 security deposit would be refundable.

Here's an article about fees and security deposits.