A refundable amount of money collected by hosts from guests before their stay to cover potential damages or losses to the short-term rental property.
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Glossary Term: Guest responsibility
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A legally binding agreement between a host and a guest outlining the terms and conditions of the short-term rental, including the rental period, payment terms, house rules, and cancellation policy.
The normal deterioration of a rental property that occurs over time due to everyday use, such as faded paint, worn carpets, or loose handles. It’s important to distinguish this from damage caused by guests.
Insurance or security deposit options that cover potential damages to the rental property caused by guests during their stay.
Guidelines or procedures established by hosts for handling delicate or valuable items within the rental property, ensuring their protection and minimizing the risk of damage.
Insurance or security deposit options that protect hosts from financial losses due to accidental damage or guest negligence during a booking period.
An optional fee or insurance policy offered to guests that covers potential damages to the property during their stay.
A sum of money collected by a host from a guest before their stay to cover potential damages to the property.
A predetermined monetary value set by the host or platform that determines when a security deposit claim will be initiated for damages exceeding the threshold.
A refundable fee collected from guests before their stay to cover potential damages to the property beyond normal wear and tear.
Insurance or security deposits that cover costs associated with accidental or intentional damage to the property caused by guests.