Manage security deposits authorizations

Modified on Fri, 06 May 2022 at 07:12 AM

Read this article and learn how to manage your security deposits authorizations.

IN THIS ARTICLE

Set up your default security deposits rules

Update security deposit per property

Set up your default security deposits rules

	In the main sidebar, select the Settings option.
	Select Payments.

Select either to automate or manually manage security deposits authorizations.

If you choose to automatically hold and release security deposits from your customer payment method, you need to define when to authorise and release the amount.

Authorization days - refers to the number of days before check in when the security deposit amount should be held.
Release days - refers to the number of days after checkout when the security deposit amount should be released.

If you choose to manually hold security deposits, you'll need to manually capture and release them in the bookings.

Warning: To automate security deposits you must have a payment provider connected to RentalWise. Security deposits can only be managed for those reservations whose charges are managed through RentalWise.

Relevant facts about OTAs to consider before setting up the security deposit:

Airbnb

Authorized range:

Minimum: 100 USD / 150 AUD
Maximum: 5000 USD / 7500 AUD

If you configure an amount above or below this range the platform will send the minimum or maximum value authorized.

When will the guest be refunded? Within 48 hours after guests check-out if no damage claims are made.

Can I manage my security deposits? With Airbnb you can however decide to manage security deposits directly with guests. Enable this option when connecting your property. Check here how to do it.

VRBO

Authorized range: Unlimited

When will the guest be refunded? It automatically refunds guests to a maximum of 14 days after the stay if no damage is claimed.

Update security deposit per property

After setting up your default security deposit rules you can override them per property if necessary. To do that go to your property and select the Settings on the tab menu. Then, find the Pricing settings section and click Manage on the right top corner. Finally, scroll down to the security settings rules and edit them. Remember to Save when you are finished.