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How to Handle Security/Damage Deposits for Vacation Rentals
Tips for accepting and refunding security/damage deposits from your guests.
You have to refer to your rental rules and if it states that any of the things violated can result in full loss of security deposit, then you can keep the full amount. I am not into making a profit from situations such as these.
If you are worried that there might be more things that you didn't notice, then hold the deposit for another couple of weeks.
Damage deposits are not to be withheld as an opportunity to make extra money for your
inconveniences. If you withhold any portion of a damage deposit you must have proof as to the exact charges for that particular amount that you are withholding. The same holds true for damages to your vacation rental property and cleanliness issues.
Now, if the damages inconvenience the following renters (maybe the housekeeper is not finished when they arrive), you can compensate them and have it taken out of the damage deposit, BUT you must have that written and signed in your rental rules.
© Christine Karpinski 2006
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