Many hosts wish to protect their properties from being mistreated and gain peace of mind by collecting security deposits from guests. With security deposit collections guests often feel responsible, plus, the collection also deters ill-suited guests.
Even with insurance, security deposit collection is the fastest way to collect payments, as insurance may take weeks or months to pay. The process of collecting security deposits from guests and the workload it creates are often the only reason why security deposit is not collected in advance. Collecting a security deposit for every booking can be a lot of work.
For this reason, we are happy to launch our security deposit collection feature, that allows hosts to automatically collect security deposits from guests before arrival!