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The Different Types of Vacation Rental Fees
Definitions of common fees included in rental agreements.
When deciding which fees and deposits to charge your renters, it can get pretty confusing, especially if you are unclear about what you're charging for. A fee is a nonrefundable amount of money charged to the renter by the vacation rental owner.
Here is a quick description of fee options that can be included in a rental agreement:
Damage Waiver Fee: Fee that some owners collect in lieu of a damage deposit. A damage waiver is typically significantly less than a damage deposit—usually just $25-$100 depending on the property. Unlike a damage deposit, the damage waiver is nonrefundable. If just 1 in 20 guests cause significant damage, the fee charged to every renter will easily cover the cost.
Pet Fee: Flat rate in lieu of a pet deposit. A pet fee is nonrefundable.
Amenity Fee: A certain amount paid to an owner or property complex above and beyond the rental rate that allows the renter access to certain amenities (golf, tennis, beach chairs, etc.).
Pool Heating Fee: A certain amount above and beyond the rental rate charged to renters wishing to use the heater on your pool or hot tub.
Hot Tub Cleaning Fee: A certain amount above and beyond the rental rate charged to renters wishing to use your hot tub.
Cleaning Fee: A certain amount above and beyond the rental rate that is charged to renters to cover the cost of cleaning the property after their departure.
Here's an explanation of some other commonly used terms:
Advance Payment: Payment by the renter to the owner equaling a portion of the total rental amount. The advance payment is applied to the total rental cost.
Refundable Security Deposit: A fixed amout of money that is collected upfront, and held until after the renters have departed. Security deposits are expected to be fully refundable when no damages or theft incur to your home.
© HomeAway, Inc. 2006
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