The collection of a Security/Damage Deposit is an essential component in the short-term rental space. Hotels understand this and charge damage deposits with each booking.
As property hosts, we learn very quickly that not everyone will treat our properties with the same care and respect that we would, but also, accidents happen! For these reasons it is crucial for property hosts to protect themselves in this area.
This article will take you through the steps required to set up security deposits in your ChargeAutomation account.
In Account Settings, select 2. Payment Rules. Then select the booking source you would like to start with. The changes you are about to make to this booking source means that all bookings from this booking source will be subject to the rules you are about to apply pertaining to security deposits.
Once the booking source is selected, select Security / Damage Deposit, this will expand this section revealing other fields to complete.
% of Booking Amount
When to Authorize
1 hour to check-in to 365 days before check-in.
Automatically re-authorize every seven days – An authorization will apply a hold to your guest’s credit card for the security deposit amount for a period of 7 days. If the guest’s stay exceeds 7 days, selecting this option will automatically restart the authorization for an additional 7 days. The authorization will expire at the end of the 7 day window if the guest has checked out, otherwise, it will automatically restart for an additional 7 days.
To easily apply these changes to your other booking sources, select the next booking source and then select Copy settings from. A drop down of all applicable booking sources will appear and you can select the booking source which you just set up using the steps in this article.
For answers to other questions about the Security/Damage Deposit feature in ChargeAutomation, visit our Security/Damage Deposit FAQ's article.