A mobile payment platform that some short-term rental managers use to process payments and security deposits.
Menu
Glossary Term: Security deposits
24 posts
Facilitating secure and efficient payment transactions for short-term rentals, including collecting payments from guests, processing security deposits, and disbursing payouts to hosts.
Implementing a thorough guest screening process, utilizing platform features and communication, to minimize risks and ensure a safe and respectful environment for both hosts and guests.
Establishing a clear and fair policy for handling accidental damages, outlining procedures for reporting, assessing, and addressing the situation while maintaining positive guest relations.
A mobile point-of-sale (POS) device offered by Square that allows hosts to accept credit card payments from guests, particularly useful for security deposits or incidentals.
A legal venue for resolving disputes, typically involving smaller amounts of money, that may arise between hosts and guests, such as property damage or unpaid fees.
Insurance or security deposits that protect hosts from potential financial losses due to accidental or intentional damage caused by guests.
Proactive measures taken by hosts to prevent damage or misuse of their property, such as implementing house rules, installing security cameras, and providing clear instructions for appliances.
The process of identifying, assessing, and mitigating potential risks associated with short-term rental operations, such as property damage, liability claims, and legal disputes.
Implementing security measures to verify guest identities, screen for potential risks, and minimize the likelihood of issues during a short-term rental stay.
Implementing measures to minimize potential risks associated with short-term rentals, such as property damage, liability claims, or negative guest behavior.
The system by which short-term rental platforms and property managers handle secure financial transactions between guests and hosts, including booking payments, security deposits, and any additional fees.