On the topic of security deposits, do any hosts out there require one on Peerspace?


#1

If so, …

  1. How much do you collect?
  2. How do you collect it (cc hold or check)?
  3. When do you collect it (before confirming a booking, the day-of, etc.)?
  4. Any best practices to share?

This article does a good job of explaining Peerspace’s stance on security deposits.

Eager to hear your thoughts!


#2

Hi Grace, great topic, I am curious as well. I state in my description that a security deposit and additional insurance may be required, but I have only collected deposits a couple of times. Most likely for parties, don’t remember exactly offhand, probably $250.

I have heard of putting a “hold” on a credit card, but when I went to try it was told you have to charge the amount to the card. Is there a way to just place a hold without actually charging the card?

My goal would be to ensure the funds are available if needed but with minimal inconvenience to the guest.


#3

i charge a $350 security deposit (upon checkin) + I demand a Certificate of Insurance through eventhelper.com (24hrs in advance)
If it is a very small shoot/production or very last minute, I occasionally accept to waive the COI and ask for $500 security deposit. I request deposit through VENMO, and PAYPAL (on PayPal you must select “send to a friend” to avoid fees). I return it to clients about an hour after their checkout, so I can calmly look through the space in detail on my own. I used to do it upon return of the keys but it didn’t allow me enough time to be thorough in checking the space.