Adding Security Deposit to Our Listing

[JoAnn77]

Hello Fellow Hosts,

I wondered what the thinking is among hosts regarding adding a Security Deposit to your listing.  We have been happily hosting our primary residence in the SF Bay Area for 3+ years now and we have never added the security deposit.  I believe Airbnb will now automatically be applying it to certain listings, so was hoping my fellow hosts could chime in on their opinions here either yes or no to add a security deposit to a listing.  Thank you, JoAnn J.

[Kristin131]

I have had a deposit for over a year now, had two guests that destroyed my house and I didn't get the deposit in either case.  Even after providing the required pictures, receipts and a witness for proof.  You will not be reimbursed by Airbnb so really irrelevant to hosts if there is a deposit.

[Katie---Sean0]

@JoAnn77 — unfortunately the Airbnb "security deposit" is a unicorn. It doesn't exist. Both our listings have a security deposit because we do 30-day minimum long-stays. We've been lucky so far with zero damages, but I'm currently in the process of having to claim for $1200 in damages for the first time. A so-called "Trust & Safety" person is offering me $438. I had foolishly thought that because I have a $2000 deposit on the particular unit I'd be covered. But I'm not. I'm in the hands of someone telling me I'll get 30% of what it will cost me to repair and replace everything. It's outrageous frankly, and there's nothing I can do about it.

Our solution going forward is to only accept a 30-day stay through Airbnb, and if a guest wants to stay longer they can sign a month-to-month lease and pay us a security deposit. We have our first guest doing this now, and they had no problem with it at all.  It's just unfortunately that Airbnb has forced us to do this, because they won't let us get at our own security deposit.

[Valerie192]

Hi @JoAnn77  I just got that email today and it provoked similar questions for myself. I also host in my primary home for over a year and a half and I didn't even know there was a place to put a security deposit amount. I'm not even sure what a good amount would be or if it would be pointless. I would love to follow this thread to see if others chime in. Thank you!

[Suzanne302]

@JoAnn77 @Valerie192 @Katie---Sean0 @Kristin131 

Up until now, the security deposit was just smoke and mirrors. ABB did not really collect or hold any money, they simply allowed hosts to claim up to their security deposit amount and 1) they may or may not approve the claim 2) even if they approve the claim, the guest can refuse to pay.

With this email we've all gotten, it looks as though they are actually going to collect/hold a security deposit now. That being said, we may still be at the mercy of ABB to decide whether to approve a claim, but if they do, as I understand the email, the guest can't refuse to pay because they had to front the money in the first place.

That's my interpretation of the new policy, anyway. It's hard to tell what ABB actually means so I guess time will tell!

[Katie---Sean0]

@Suzanne302 – I didn't pay any attention to the recent "security deposit" email because I already have them in place, and I thought the email was only inviting me to review the amounts. I didn't realize it's an actual policy change — is it?

When I read the "help" link page about Security Deposits linked in the email yesterday... it still says that in most circumstances Airbnb will not take a Security Deposit from a guest:

https://www.airbnb.com/help/article/2526/as-a-host--what-should-i-know-about-security-deposits?c=.pi...

[Suzanne302]

@Katie---Sean0 

Thanks for the link, I didn't actually click on that one when I received the email.

It appears to be a policy change, but I've never read the original "help" link so I don't know if it's new wording or not. Everything they do is so dang confusing sometimes! If the help section has been revised per the email, then I guess they are NOT going to collect from every guest.

Which leads to the question...Why would we want to rent to someone they deem such a risk they feel compelled to implement a security deposit?? Aaaagggghhhhh!

[Katie---Sean0]

@Suzanne302 – the link I copy/pasted above is the link from the email, so it must be their updated policy. Meaning no, it looks like Airbnb is not collecting a Security Deposit from every guest. They will collect it from some guests, based on some vague criteria they don't share on the help page.