Airbnb security deposit is a false security for hosts. They just burst that “trust bubble”. What they don’t seem to understand is that you, the host is the backbone of their business model. Act like it and Airbnb will act accordingly as well. Why do you think their IPO is valued at $30 billion!
Every business transaction worth any value is done with trust. When they break that that is beginning of the end in any business relationship.
A solution for bad apple guests:
Security Deposit:
If Airbnb guests who create havoc in your rental will not admit to their fault; you get nothing! Nada! So then why have a security deposit? I’m asking that myself.
So one solution maybe:
Think like insurance companies who I hate more than lawyers sometimes. You need to charge more to cover for those 5% of bad experiences you will get. So raise you rental rate to that amount. I used to state their is $500 security deposit. Get rid of it add $5/daily rate and hopefully it works out by the years end.
If you have a great rental, any rental above 100 5 stars reviews, stop instant booking or vet every guests without a review like a hawk. Start rejecting your guests. Trust your instincts. I ask all my local guest to send me their drivers licenses . If they don’t, don’t rent to them period! People who book Airbnb are not hotel bookers. So they will jump through hoops to book your 5 star rental.
Repeat this to yourself: you are giving value to the guests!(mind you this only applies if your rental is 4 star and above).
Good luck to you all. I think there should be a booking co-op site run by the 5 star hosts themselves. Food for thought.
best, Meehyun
MeehyunK