 |
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
Related Tips
Policies & Procedures
Rental agreements, sample contracts/leases, security deposits, best practices, and written communications with renters of your vacation rental home. |
|
Security Deposit Guidelines for Vacation Rentals
Helpful guidelines to follow for handling deposits for your rental. |
|
Merchant Credit Card Account Categories for Vacation Rental Owners
Be aware of the protection (or lack thereof) provided by your merchant account and/or business category. |
|
Checklist for Creating a Thorough Rental Agreement
Use this checklist to sort through your own rental agreement and be sure you have all the necessary clauses. |
|
How to Convert a Word Document to a PDF
Tips for changing your contracts, receipts, and invoices into PDF files. |
|
Establishing Strict Check-in and Checkout Times for Your Vacation Rental Guests
Avoid potential conflicts and problems for your housekeeper and vacation rental guests. |
|
The Different Types of Vacation Rental Fees
Definitions of common fees included in rental agreements. |
|
Why You Should Include Warnings in Rules and Rental Agreements
Are there known dangers regarding flora, fauna, weather, danger areas, or just plain crazy neighbors in your area? |
|
Guidelines for Communicating with Renters
Learn how to create thorough rental agreements, directions, and inquiry responses. |
|
Christine's Blog: Updating Your Rental Agreements (12/11/07)
Christine make a few alterations to her rental contracts. |
|
|
|