What is Airbnb Security Deposit?
Airbnb allows owners to add a security deposit on their house, apartment or condo’s listing. This security deposit is optional and is used to ensure that their property is protected in case of damages. This is often the same type of security deposit that is requested of those that require a hotel room or other short-term rental.
A security deposit can be useful to ensure that vacation rental home is taken care of regardless of the wear and tear. All too often, damages happen by those that are renting and this causes an uproar with those out that have to cover the costs out of their own pockets and not out of the renters. This is something that a security deposit will cover if there are damages that were made.
How to Add an Airbnb Security Deposit to your listing
As the Airbnb host, you can easily collect a security deposit from your listing by following the next steps:
- Log in to the Airbnb owner login page
- Go to Your listings and select a listing
- Click Manage listing
- Click Pricing settings at the top of the page
- Click Edit next to Extra charges
- Enter an amount for your security deposit under Security deposit (make sure it’s between $100 and $5,000 USD)
- Click Save
Once you activate this setting, it’ll only be applied to new reservations and not those that have already been booked prior to the change being made.
The Airbnb security deposit policy states that guests don’t have to immediately pay the security deposit; they only pay when the host uses Airbnb’s resolution center to claim it. This can be requested within 14 days of when the guest checks out or when a new guest checks into the property. If the host does not request the security deposit within this amount of time, the owner then forfeits the deposit.
Security Deposit issues
Not often are there Airbnb security deposit issues, but when there are, they should be taken care of sooner, rather than later.
Through the use of Airbnb security deposit claims, the person is then able to submit a claim and make sure that they get the necessary help when needed. This is an amount that the owner does not have access to until they make a claim on the property to collect it. Once this is done, the money then goes through dispute resolution and it can either be taken care of by both parties involved or Airbnb can provide a mediation that provides further help, as long as there are pictures and documents on the damage of the property submitted with a claim.
Issues should be brought up in a timely manner, as the deposit is not held onto for a specified amount of time and cannot be collected after that. Generally, 14 days is the maximum amount of days that the deposit can be held onto. This is important to think about when considering whether or not you should collect a deposit for the Airbnb listing that you have. Many choose to do so to ensure that they have protection against vandalism and theft that might occur inside the property while someone else is renting it. It is an assurance that is allowed on the website.
How to claim Airbnb’s security deposit
Vacation rental owners can report damages and claim the security deposit up to fourteen days after the guests left their home. To file for a security deposit claim, you will have to visit Airbnb’s resolution center and send photos, receipts, invoices, written estimates and all the information that denotes actual cash value for repairs or replacements of all your damages. Airbnb will then go over your documentation and move forward with collecting the deposit.
To make sure payments are properly handled and to avoid Airbnb scams, Airbnb recommends to collect security deposits only through their website.