Security Deposit (How does it work?)
A hold (also referred to as an authorization) will be placed on funds in the guest's account on file for the amount agreed to for the particular booking. A hold is not an actual charge to an account—rather an authorization, similar to the 'incidentals' charge that most hotels require at check-in. Guests will not see a withdrawal from their account when this hold occurs, but they may see their 'available balance' change.
Depending on the bank affiliated with the guests credit card, hold 're authorizations' will process on cycles anywhere between five (5) to thirty (30) days—thus security deposit holds are 'released & re-authorized' for as long as needed from the point at which the original hold is processed until the point at which hold is officially released.
Note: When the original hold is released, there will not be a visible deposit in the account since there was no withdrawal from the guest's account to begin with. Rather, the funds held will become available in the account again.
Security Deposit (Amount)
When filing an insurance claim
- When an insurance claim is filed, the Security Deposit is automatically placed on hold, and utilized to satisfy the deductible requirement.
- due to above, when filing a claim please ensure you are creating line items to process any post trip charges independent of claims damage (for step by step instructions on how to create line items, please refer to the 'Adding a line item to process payment' section below)
When not filing an insurance claim
- Best Practice—create line items to process any post trip charges (for step by step instructions on how to create line items, please refer to the 'Adding a line item to process payment' section below)
- The option is also available to collect from the security deposit for ancillary charges, minor repairs, etc. When doing so, please ensure to include notes for transparency.
Managing the Security Deposit
Be communicative and transparent with your guest so they know exactly what’s happening with their deposit. Here are your options:
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Hold security deposit: Holding the security deposit will result in the deposit being held and re authorized indefinitely until you go back in and release it.
- for Outdoorsy bookings held security deposits are released after 30 days
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Claim the entire security deposit: A claim turns the deposit authorization into a charge, and you will be paid out the entire deposit amount, minus processing fees.
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Release part of the security deposit: Allows you to release part of the deposit, a box will appear for you to enter the desired released amount. Once you select release part of security deposit, that will be released to the guest and they will then be charged for the difference. Keep in mind that you will not be able to further manage the deposit after this action is taken.
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Release the entire Security Deposit: The entire deposit is released to customer immediately, without waiting for the 7 day period to expire.
Adding a line item to process payment
If there are variable add-ons costs or fees that need to be charged once your guest returns, follow the steps below:
- Go to the reservation page on your dashboard
- Select the applicable reservation
- Select Edit
- Add the add-ons/line items to the reservation and save
- Select the Make payment button on the reservation to charge the customer's credit card