Security Deposit

[Q-and-Twila0]

Is $500 security deposit reasonable? 

Is it too high? especially for those staying only 2 nights?

Thanks,

Twila

[Danielle120]

No, it's absoultely not reasonable.  I've been hosting since 2012 and I've only had one incident of damage over a couple dollars and the guest voluntarily paid for the damage. 

[Sora0]

generally hotels only take $200 security deposit, so i offered my place half of what the hotels are offering. still it depends on individual preference.

[Elaine-and-Duane0]

Interesting question. Our deposit is around $300. I think the amount would depend upon whether you rent an entire house or to large groups. 

[Patricia86]

You have a lovely house that hosts a fair number of people.  It is in, what appears to be, a fairly pricey neighborhood.  I think that it is a fair price.  

Yours is less "hotel" and more "event space", and should be priced as such. 

[Andrew90]

@Q-and-Twila0 @Patricia86 remember that the deposit is not collected but is more of an maximum the guest will be liable for.  

I use $250 figuring it will cover most damage and rely on my insurance for anything major. I don't plan on anything from the host guarantee but would attempt claim if anything happened. 

[Q-and-Twila0]

Thank you very much!

[Patricia86]

Thank you, but I don't need the reminder.  Did you look at her place?  Do you know what event venues go for in California?  I think she is in the ballpark.  https://www.peerspace.com/s/san-francisco/?viewport_bbox=[37.994096523759104,-122.66567187499999,37....

[John-and-Heather0]

We have a $500 deposit on our "high-end" home. We set the deposit by the amount that could happen from accidentally damaging the most expensive item in our home (barring ruining a sofa or a bed). Guests should understand that they are responsible for replacing things that they damage (or their group, their pet, their kid) so if someone doesn't like it, they couldn't afford to replace accidental damage and probably shouldn't be staying there.

[Francesco229]

Hi all, I'm a new host dealing with same dilemma: which is the right deposit amount to ask for (which I didn't set it yet and I'm unsure to do)?

Thanks to this conversation I figured out a fair amount, which in my case could be, let's say, 100... now, next big question is: what happens if I get a greater damage? May I still claim for more than 100 or declaring the deposit means that I agree to an "upper limit"? 

And: what if i don't declare any deposit, may I still use AirBnB to claim amounts for small damages?

Any hint appreciated,

thank you

Francesco

[Stefano308]

Bump as I'm interested in Francesco's answer too. Thanks.