I’m new to this platform and hope to get some feedback on security deposits and credit card charge backs. How are host collection security deposits? Also do you get paid if a client fights a charge on their credit card after having an event?
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Hi @Samaiya_Or_Alexander - Thanks for your post, I’ll be happy to provide clarity!
Hosts are allowed to require a refundable day-of security/damage deposit from guests in the form of a check or credit card authorization such as Venmo, PayPal, Zelle, etc.
At this time, Peerspace does not support processing these deposits through our online and mobile applications. Provided there are no damages to the space, the deposit would then be returned to the guest in person at the end of the booking. For these reasons, do not charge a security deposit as an add-on.
While most hosts do not collect a security deposit, if you would like to require one, it must:
-be clearly stated in your listing’s Host Rules section
-include the monetary value
-include the method of collection (check, PayPal, etc.)
Remember that by booking through Peerspace, guests agree to cover in full any damages that they or their invitees cause during the booking. Any incidents during a booking will be resolved through the Peerspace Dispute Resolution process. If a security deposit was collected, you will be asked to provide supporting evidence of it.
As for credit card chargebacks, we guarantee all hosts receive their full payment, even if a guest disputes a previously collected charge with their bank or if a guest’s charge is fraudulent.
For more information on security deposits and our custom-built protection plan please see our Terms and Conditions and Peace of Mind Host Coverage.
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