Introduction to security deposits

Quick guide on how to manually manage security deposits and understand security deposits statuses. Security Deposit (aka. Damage Deposit) is an added amount you retain on top of the total accommodation costs to cover in case any damage happens during the guest’s stay. If no damages are claimed this amount is to be refunded in accordance with your rental agreement.

IN THIS ARTICLE

Manage security deposits manually

Security deposit statuses

Manage security deposits manually

	In the main sidebar, select the CRM option.
	Click on top of booking to view booking details.

Scroll down until you see the Damage deposit section.  Here you can either "Authorize", "Capture", "Release" or "Refund" a damage deposit amount.

Note: You can only manage security if you have a payment provider connected to RentalWise. And only can collect security deposits from reservations whose payments are managed through RentalWise, except for Airbnb that authorizes you to manage security deposits directly with guests if you decide to do it.

	Next, select the credit card.
	Click Save to confirm the operation.

Security deposit statuses

Check below the meaning for the different Security deposit statuses available:

• Pending - means that the security deposit is pending authorization. If you have set up your security deposit to be automatic, then the authorization will happen "x" days before check in.
• Failed - means the security deposit authorization/hold was unsuccessful.
• Authorized - means the authorization to hold the security deposit amount on your customer card was successful. 
• Captured - means the security deposit was retained. You can decide to capture the security deposit  to cover in case any damage happens during the guest’s stay.
• Refunded - means you have refunded any amount previously captured from your customer credit card.
• Released - means that you've reversed the authorization and released the amount back from your customer credit card.