as a new host should I take a deposit

[Leigh104]

hi everyone

Im very new to this

I only put my flat up on air b and b this week and have my first booking this wkend. 

as I understand it, they will have already paid air b and b, who hold my payment until the second day of their stay, then they pay me, although as a first time booking they will hold it for up to 30days?

can anyone advise me on whether I should ask to take deposits? and how to set that up please

also what do people find is the most appropriate cancellation policy?

thanks

Leigh

[Emiel1]

@Leigh104 

Yes, airbnb can hold your first payout for max. 30 days after the date the firsts reservation was confirmed.

https://www.airbnb.com/help/article/425/when-will-i-get-my-payout

The estimeeted payout date can be found in Transaction history ("future transactions")

If a  security deposit is set (in section "pricing", see option "standard fees and charges" ), it is not charged to the guests, just sits in place when a claim is made  (Allthough airbnb recently introduced extra rules:

https://www.airbnb.com/help/article/140/how-does-airbnb-handle-security-deposits)

Please note you accept bookings longer then 27 nights, but have not set a monthly discount. Then the listing will not show up for guests searching for "long term stay".

You have set "flexible" as a cancellation policy, which is very "guest friendly", but leaves you out of pocket when people cancel last minute.If you choose moderate, you protect yourself more (and there is allways the ability to manual refund a guest, if you feel so). But just IMHO.

best regards,

Emiel

[Leigh104]

hi Emiel

thank you for that

I have changed my settings to take a small deposit. lets face it, the deposit wont cover something like replacing a bed if you had to anyway. just to clarify, they dont actually pay the deposit, they just agree to pay up to that amount if they damage something and I fill out a claim within 14days?

I have also amended my cancellation policy to moderate

thanks for the help

Leigh