security deposit

[Sultan-Property0]

We have a large 1 bedroom fully furnished studion that we have listed with you and using you for the first time.

 Please advise as to what we do in regard to security :

 1. How much can we charge

2. Is this deducted from the tenant up front or is this covered via your insurance ??

3.If our furnishings etc are worth 15,000 dhms – what % amount should we be trying to cover ?

[Gerry-And-Rashid0]

@Sultan-Property0

Put in  place  a security deposit that you feel is necessary to cover minor damage. This is not paid by the guest up front, but is an agreement to pay up to that amount in certain circumstances. It does not cover wear and tear and is relatively difficult to claim against unless the guest agrees to the damage.

In addition, you should  have your own insurance to protect your building and contents. Your insurance company may be able to offer this type of cover for rented property (short term) - if not there are usually specialist companies that can.

AirBnB has a policy that is meant to protect hosts - however there are so many stories about the impossibilty  of claiming against it that it is not a good idea to  rely on it for anything.