Security deposit

[Spencer18]

I am new to AirBNB and did not add a Security Deposit before one reservation was made.  I want to add a Security Deposit to an existing reservation.  Is there any way to do this?  Also does anyone have a rule of thumb about the size of a Security Deposit.  My house is a $800 a day rental.  Would a rule of thumb be one days rental or $800 in this case?

[Linda108]

@Spencer18  You cannot retro-actively add a security deposit for an existing reservation.  When you accept a reservation it is a contract between you and the guest with the terms at the time of the acceptance.  On a go forward basis, a good size security deposit is especially needed for an entire house as you are not there to monitor guest behavior.

I don't know if hosts have a rule of thumb in terms of the size of the security deposit.  Remember the security deposit is not taken at the time of the reservation and only accessed if there is a substantiated claim.  Some hosts feel a large security deposit makes there listing less desireable.  I agree, but I think about the travelers who would find it a deterrent and those are the travelers I want to weed out.  I would recommend you have at least a $2000 security deposit.  Maybe more...

[Alice-and-Jeff0]

Our security deposit request from guests is half the amount of our deductible on our homeowners insurance.  If Airbnb won't cover the damages made by a guest, then we will be claiming against our insurance.