You've got your booking, you've got your payment, your guests are on their way... But what if they're rockstars and trash your place?
No matter how hard you try, it's impossible to always predict and keep out bad guests. If you are unlucky enough to have really bad guests that burn your place down, your property and business-interruption insurance (you do have those, right?) should cover you. But that's rare.
Much more common are minor damages that no regular insurance will cover - a lost TV remote, a carpet caked with tracked-in mud, a broken window. OwnerRez offers a variety of methods to protect yourself from having to eat these costs.
It's also important that you remind your guests about upcoming Security Deposits. When you have configured Security Deposits in OwnerRez, the OwnerRez automated Security Deposit Reminder email schedule is as follows:
- 10 days before the Security Deposit is due.
- 5 days before the Security Deposit is due.
- The day the Security Deposit is due.
- Exception: PayPal-only accounts with no credit card processor
- 1 day before the Security Deposit is due.
- The day the Security Deposit is due.
Security Deposit Holds
Security deposit holds provide a way that you can guarantee that you'll be able to charge the guest's credit card for any damages, even if they canceled the card during their stay.
Damage Protection Insurance
OwnerRez offers an insurance product which covers minor damage to your property. This sounds similar to the guarantees offered by some channels like Vrbo, but isn't - you are the insured paying for the insurance, not the guest, and the guest has nothing to do with whether or not your claim is honored. Neither does the channel - it's just you making your claim to the insurance company, and them paying it.
Refundable Damage Deposits (RDD)
Some property owners prefer to receive actual funds from their guests for a security deposit, then return those funds after the guest has left if there's no damage.