Loading...
Loading...
Category: Getting Started
By: Tony Russo
Reply by Maria Gonzales:
I stopped requiring a security deposit 2 years ago and my bookings went up noticeably. Here's the thing — Airbnb's AirCover already provides up to $3M in damage protection. It's not perfect, but it covers most situations. The security deposit creates friction at checkout. Guests worry they'll lose it over something minor, and some will skip your listing entirely. I'd rather get more bookings and deal with the rare damage claim through AirCover. That said, if you're listing a luxury property with expensive furnishings, a $500-$1,000 deposit might make sense as a deterrent. For a standard 1BR? Skip it.
Reply by David Okafor:
I use a $250 security deposit and it's never been an issue for bookings. I think the key is keeping it reasonable — $250 is low enough that responsible guests don't blink, but high enough to deter the party crowd. One thing: Airbnb's security deposit isn't actually charged upfront. It's an authorization hold. So the guest doesn't pay it unless you file a claim. Make sure you understand how it works before setting it.